The global market for textile staples, which is currently valued at over US$ 124,915 Mn is also projected to witness a steady rise in terms of value during the forecast period (2017-2027). As per the latest study conducted by Future Market Insights (FMI), towards the end of 2027, the global textile staples market will reach a valuation of US$ 201,197.5 Mn, reflecting a moderate CAGR of 4.9%. Around 55,782 KT of textile staples is expected to be produced by 2017-end.
It is estimated that the volume-wise growth of the global textile staples market will showcase 4.8% CAGR, with China and India making significant contributions to the market.
|Estimate Market Size of textile staples in 2021
|US$ 150 Bn
|Projected Market Size of textile staples in 2027
|US$ 200 Bn
|CAGR during 2021 -2027
The FMI’s report titled “Textile Staples Market Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027” has identified multiple factors influencing the global textile staple market throughout the ten years of the forecast period. In developed regions such as North America and Europe, manufacturers of textiles are shifting their focus from commodity goods to value added products. Therefore, manufacturing of generic textile products as compared to niche technical textile products is expected to slow down in the near future.
In addition, the global market is anticipated to be majorly driven by growing application of technical textiles in large sectors such as construction and automotive. In emerging countries, rising disposable income is significantly boosting the market growth.
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The report has also assessed that both production and consumption of synthetic fibre will soar in near future. Further, the demand for special textile materials and products which are manufactured primarily for specific applications have gained considerable traction in recent years. Application of such textile is increasing exponentially in automobile industry owing to their superior quality and technical capabilities.
Global Market for Textile Staples- Forecast Highlights
- Based on natural fibre textile staples, cotton is expected to account for the largest share of the market over the forecast period. The cotton segment is expected to create a total incremental opportunity of US$ 34,924.5 Mn between 2017 and 2027. Retailers are labelling their products as being environmentally friendly to gain a competitive advantage in the market.
- By synthetic fibre, around 26,051.8 KT of polyester textile staples is expected to be produced by the end of the assessment period. Currently, polyester is the most preferred type of synthetic fibre for textile staples.
- Towards the end of forecast period, application of textile staple in manufacturing apparels is projected to contribute nearly US$ 93,974.4 Mn. However, demand for textile staple from the automotive and construction sections will be robust in 2017 and beyond.
Among region, the Asia Pacific excluding Japan (APEJ) is expected to emerge as the largest market for textile staple over the forecast period. Growth in sectors such as automotive & transportation coupled with increasing spending power is primarily favouring the market’s growth in the region. Meanwhile, North America will retain is second spot and account for a sizeable share of the market over 2027.
Key players in the market are laying emphases on R&D activities to enhance wear-ability of E-textiles, fabrics that enable digital constituents and electronics to be embedded in them.
E.I. Du Pont de Nemours and Company, Lenzing AG, International Fibers Group, Invista, Thai Acrylic Fiber Co. Ltd. (Aditya Birla Group), Toray Group, Chori Co., Ltd., W. Barnet GmbH & Co. KG, Cellulose Cotton Wool Corporation of India, Teijin Frontier Co., Ltd., Belgian Fibers SA, Grasim Industries Limited, Indorama Ventures Public Company Limited, Reliance Industries Limited, Synthesia, AS, The Woolmark Company are some of leading companies operating in the global textile staples market.
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Key Segments Covered
By Fibre Type
- Natural Fibre
- Synthetic Fibre
- General and Leisure
- Interior Flooring
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East and Africa
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Market Overview
3. Market View Point
4. North America Textile Staples Market Analysis 2012–2016 and Forecast 2017–2027
5. Asia Pacific Excluding Japan (APEJ) Textile Staples Market Analysis 2012–2016 and Forecast 2017–2027
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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