Textile Manufacturing Market Size to grow by USD 346.05 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Textile Manufacturing Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The textile manufacturing market is a significant segment of the global textiles market, which encompasses a wide range of textile products utilized in various applications, such as fashion, technical, home furnishings, and others. According to Technavio, the parent global textiles market encompasses the revenues generated by manufacturers of textiles, excluding apparel, accessories, luxury goods, and footwear. Factors propelling the expansion of the global textiles market include the burgeoning demand for geotextiles. These synthetic textiles are increasingly being used in civil engineering projects for soil stabilization and filtration, thereby fueling the growth prospects of the textile manufacturing market throughout the forecast period. - The Textile Manufacturing Market is experiencing significant growth, fueled by the Increasing demand for textiles in automotive industry. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Increasing demand for textiles in automotive industry
  • Increasing focus on eco-friendly practices in manufacturing process
  • High initial capital investment in installing modern textile machinery
  • Cyclical nature of textile industry
• Growth Projections

The market size is estimated to grow by USD 346.05 billion, at a CAGR of 4.52% during the forecast period. In the textile manufacturing sector, automation is a key driver for enhancing product quality and cost competitiveness. Automated textile machinery expedites fabric production and optimizes flow rates, promoting lean manufacturing. Automation significantly influences fiber manufacturing, yarn manufacturing, weaving, dyeing, and finishing processes. Fiber manufacturing necessitates precise fiber diameter monitoring, polymer characterization, temperature control, and tension management to ensure consistent product quality. Automation effectively addresses these requirements, particularly in the production of diverse fiber types, such as micro-denier fibers, through advanced spinning methods in yarn manufacturing.

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• Regional Insights

The textile manufacturing market in Asia Pacific (APAC) experienced robust growth in 2023, driven by the region's substantial textile consumption and the presence of a vast consumer base and numerous textile vendors. Natural fibers, polyesters, and nylon are in high demand in APAC due to its abundant raw materials and easily accessible low-cost labor. China, India, Japan, Pakistan, South Korea, and Bangladesh are significant contributors to APAC's textile industry, with China leading as the world's largest textile consumer. The demand for textiles in fashion and household applications is high in China, where technical textiles are also gaining prominence.

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