(MENAFN- EIN Presswire)
Textile Fabrics industry Trends
The rising demand for clothing and apparel, coupled with growth in the e-commerce sector, is a major factor driving the market.
WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire / -- A recent report from Allied
market Research, titled "Textile Fabrics Market by Fabric Type (Cotton, Polyester, Polyamide, Others), by Application (Fashion & Clothing, Household, Technical): Global Opportunity Analysis and Industry Forecast, 2021-2031," reveals that the global textile fabrics market is set to surge from $498.0 billion in 2021 to an estimated $942.8 billion by 2031, at a compound annual growth rate (CAGR) of 6.7% between 2022 and 2031.
Download Sample Pages of Research Overview:
Key Drivers of Market Growth:
- Expanding Fashion and Apparel Industry: The rising demand for clothing and apparel, coupled with growth in the e-commerce sector, is a major factor driving the market.
- Oil & Gas Industry's Influence: The increase in oil and gas exploration activities has created a demand for specialized textile fabrics, further contributing to market growth.
- Technological Advancements: Innovations in the chemical industry and growing investments are expected to propel market growth.
However, the market faces challenges due to fluctuating raw material prices, though new opportunities may arise from the growing competition in professional sports.
Polyester Segment Leads the Market:
In terms of fabric type, polyester dominated the market in 2021, accounting for nearly half of the total market share. This segment is anticipated to continue its growth trajectory with a 6.9% CAGR during the forecast period. Polyester's durability and strength have been key factors driving demand.
Fashion & Clothing Segment to Offer Lucrative Opportunities:
By application, the fashion and clothing segment emerged as the top revenue generator in 2021, holding almost 60% of the market share. This segment is expected to maintain its momentum with the highest forecasted CAGR of 6.9%, driven by increasing consumer demand and the rise of online shopping platforms.
Rapid Growth in Asia-Pacific Region:
Regionally, Asia-Pacific held the largest market share in 2021, with approximately 40% of the global market. This region is expected to experience the fastest growth, with a projected CAGR of 7.0%, fueled by rising consumer spending on fashion and apparel.
Leading Market Players
Key players in the textile fabrics market include:
- DuPont de Nemours, Inc.
- Klopman International
- Weiqiao Textile Co. Ltd
- Wolfin Textile Ltd
- Loyal Textile Mills Ltd
- Whaley Bradford Ltd
- Coville Inc.
- Premier Textiles
- Yi Chun Textile Ltd
- China Textile Co. Ltd
The report also highlights these companies' strategic initiatives, including mergers, acquisitions, partnerships, and collaborations aimed at strengthening their market presence.
Interested in Procuring This Report? Visit Here:
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN25092024003118003196ID1108713287
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.