Increasing demand for natural fibers and growing construction activities is boosting the Textile Manufacturing Market |Forecast for 2023-2027|Technavio
The Textile Manufacturing Market is likely to experience steady growth because of increasing demand for natural fibers and growing construction activities. Rising at a CAGR of 4.8 %, the market is estimated to become a billion-dollar sector with an incremental growth of USD 351.51 Bn from 2023 to 2027.
Companies such as B.C. Corp., BSL Ltd., China Petrochemical Corp., China Textiles (Shenzhen) Co. Ltd., Donear Industries Ltd., Far Eastern New Century Corp., Grasim Industries Ltd., Hyosung TNC, Industria de Diseno Textil SA, JCT Ltd., Koch Industries Inc., Li & Fung Ltd., Lu Thai Textile Co. Ltd., Modern Threads (India) Ltd., Nisshinbo Holdings Inc., Paramount Textile Mills (P) Ltd., Paulo de Oliveira, etc are some of the major market participants and offers a wide variety of textile products.Our report comes with a profiled analysis of the market players.
Textile Manufacturing Market Analysis
Technavio Analyst Quoted: “ The premiumization through well-positioned brands is notably driving the market advancements as consumers are currently gravitating toward high-end premium brands. Most buyers often connect status, quality, and fashion with luxury brands ”
When it comes to the market challenges fluctuating crude oil prices and unauthorized textile production units in China are expected to hinder the growth of the market. However, Innovations in the textile industry and capacity expansions by core companies in the textile industry will have a positive impact on the textile market during the forecast period.
Technavio’s analysis of the Textile Manufacturing Market also includes:
