Textiles Market Report 2024 (Global Edition)

Global Textiles Market Report 2024 Market Size Split by Raw Material (Cotton, Chemical, Wool, Silk, Others), by Product (Natural Fibers, Polyester, Nylon, Others), by Application (Household, Technical...

Textiles Market Report Description

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Textiles Market Insights Video

Competitive Landscape of the Textiles Market

The textiles market is highly competitive, characterized by a diverse range of players, including large multinational corporations, small and medium-sized enterprises (SMEs), and local manufacturers. Key players in the market are continuously engaged in product development, innovation, and strategic partnerships to maintain their competitive edge.

In February 2021, Paraguay’s Ministry of Industry and Commerce announced that it would invest USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

(Source: https://www.businessoffashion.com/news/global-markets/paraguay-to-invest-in-textile-manufacturing-sector/)

In December 2023, RSWM announced the acquisition of Ginni Filaments, an India based producer of combed cotton & open-end yarns. This acquisition will help RSWN to enhance its productivity and product diversity to cater to its premium customers.

(Source:https://in.marketscreener.com/quote/stock/GINNI-FILAMENTS-LIMITED-8124749/news/RSWM-Limited-completed-the-acquisition-of-Spinning-Knitting-and-Processing-Undertaking-of-Ginni-Fil-45984067/)

Top Companies Market Share in Textiles Industry: (In no particular order of Rank)

• BSL Limited
• INVISTA S.R.L.
• Lu Thai Textile Co.
• Ltd.
• Paramount Textile Limited
• Paulo de Oliveira
• S.A.
• Successori REDA S.p.A.
• Shadong Jining Ruyi Woolen Textile Co. Ltd.
• Shandong Demian Incorporated Company
• Shijiazhuang Changshan Textile Co.
• Ltd
• Weiqiao Textile Company Limited
• DBL Group
• B.D. Textile Mills Pvt. Ltd.
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Textiles Market

Which Region Dominates the Textiles Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America dominates the Textiles Market for several reasons. The region has a well-established textile industry with advanced manufacturing processes and a strong focus on innovation and quality. Additionally, North America benefits from a large consumer base with high purchasing power, driving demand for a wide range of textile products. The region also has a strong presence of key players in the industry, along with a robust supply chain and distribution network. Furthermore, North America's fashion and lifestyle trends influence global textile preferences, further solidifying its position as a leader in the Textiles Market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the Textiles market due to several compelling reasons. Firstly, the region boasts a large and growing population with increasing disposable income levels, driving demand for textiles across various segments such as apparel, home textiles, and technical textiles. Moreover, Asia Pacific is home to several emerging economies with rapidly expanding textile industries, benefiting from lower production costs and favorable government policies. The region also has a strong manufacturing base and a skilled workforce, further supporting its growth in the Textiles Market. Additionally, increasing urbanization and changing consumer lifestyles are fueling demand for innovative and fashionable textiles in Asia Pacific.

The current report Scope analyzes Textiles Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Textiles

According to Cognitive Market Research, the global Textiles market size was estimated at USD 1865848.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 746339.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. In the North America region, the textiles market is characterized by a diverse range of products and applications, driven by various factors such as consumer preferences, economic conditions, and technological advancements. The household application segment dominates the North America textiles market, driven by the high demand for textiles in everyday household items such as bedding, towels, and upholstery. The household segment benefits from a steady consumer base and is less impacted by seasonal fluctuations compared to other segments. In conclusion, the North America textiles market is poised for steady growth, driven by the strong demand for textiles in both traditional and technical applications. The region's well-established industry, coupled with technological advancements, positions it as a key player in the global textiles market.

• According to Cognitive Market Research, the US had a major share in the Textiles market with a market size of USD 588861.69 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. The demand is amplified by the nation's strong presence of key players and a robust supply chain infrastructure propels consistent growth.
• The Canada Textiles market had a market share of USD 89560.71 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period. Canada's consumer preferences, economic conditions to increased usage of Textiles.
• The Mexico Textiles market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 67916.87 million in 2024.

Europe Textiles

According to Cognitive Market Research, the global Textiles market size was estimated at USD 1865848.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 559754.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. In the Europe region, the textiles market is characterized by a mix of traditional and innovative products, reflecting the diverse consumer preferences and industrial applications across the region. The market is segmented based on raw materials such as cotton, chemical, wool, silk, and others, each offering unique properties and applications. The household application segment dominates the Europe textiles market, driven by the region's strong emphasis on home decor and fashion. However, the technical textiles segment is experiencing rapid growth, fueled by advancements in textile technology and the increasing demand for functional textiles in industries such as automotive, healthcare, and construction. In conclusion, the Europe textiles market is characterized by a blend of tradition and innovation, with a strong emphasis on quality and performance. The region's rich history in textile manufacturing, coupled with its focus on sustainability and innovation, positions it as a key player in the global textiles market.

• The United Kingdom Textiles market had a market share of USD 94038.75 million in 2024 and is projected to grow at a CAGR of 6.9% during the forecast period. In the UK, Textiles sales witness an upswing due to the nation's strong emphasis on quality and performance.
• The France Textiles market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 51497.41 million in 2024.
• According to Cognitive Market Research, the Germany Textiles market size was valued at USD 110831.38 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In Germany, Textiles sales surge due to the nation's rich history in textile manufacturing.
• The Italy Textiles market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 48138.88 million in 2024.
• The Russia Textiles market is projected to witness growth at a CAGR of 5.1% during the forecast period with a market size of USD 86761.94 million in 2024.
• The Spain Textiles market is projected to witness growth at a CAGR of 5.2% during the forecast period with a market size of USD 45899.87 million in 2024.
• The Luxembourg Textiles market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 17352.39 million in 2024.
• The Portugal Textiles market is projected to witness growth at a CAGR of 5.9% during the forecast period with a market size of USD 11754.84 million in 2024.
• The Greece Textiles market is projected to witness growth at a CAGR of 6.4% during the forecast period with a market size of USD 6717.05 million in 2024.
• Rest of Europe Textiles market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 86761.94 million in 2024..

Asia Pacific Textiles

According to Cognitive Market Research, the global Textiles market size was estimated at USD 1865848.2Million out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD 429145.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031. In the Asia Pacific region, the textiles market is a dynamic and rapidly growing industry, driven by a combination of traditional textile manufacturing and emerging technological innovations. The Asia Pacific textiles market is dominated by the fashion and clothing application segment, fueled by the region's large population and growing middle class, which has led to an increase in disposable income and consumer spending on apparel. In conclusion, the Asia Pacific textiles market presents immense opportunities for growth and innovation, fueled by the region's large and diverse consumer base, as well as its focus on technological advancements and sustainability.

• According to Cognitive Market Research, the China Textiles market size was valued at USD 193115.29 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. Textiles sales surge in China due to the nation's combination of traditional textile manufacturing and emerging technological innovations.
• The Japan Textiles market is projected to witness growth at a CAGR of 8.1% during the forecast period with a market size of USD 59222.02 million in 2024.
• The India Textiles market had a market share of USD 51497.41 million in 2024 and is projected to grow at a CAGR of 11.4% during the forecast period. The demand is augmented by India's technological advancements and sustainability.
• The South Korea Textiles market is projected to witness growth at a CAGR of 8.7% during the forecast period with a market size of USD 42914.51 million in 2024.
• The Australia Textiles market is projected to witness growth at a CAGR of 9.3% during the forecast period with a market size of USD 22315.54 million in 2024.
• The South East Asia Textiles market is projected to witness growth at a CAGR of 10.6% during the forecast period with a market size of USD 29611.01 million in 2024.
• The Rest of Asia Pacific Textiles market is projected to witness growth at a CAGR of 9.4% during the forecast period with a market size of USD 30469.30 million in 2024.

South America Textiles

According to Cognitive Market Research, the global Textiles market size was estimated at USD 1865848.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 93292.41 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031. In the Latin America region, the textiles market is characterized by a mix of traditional textile production and a growing focus on sustainability and innovation. Countries like Brazil, Mexico, and Colombia are key players in the market, known for their rich textile heritage and diverse range of textile products. The dominant segment in the Latin America textiles market is the household application segment, driven by the region's large population and cultural emphasis on textiles in everyday life. In conclusion, the Latin America textiles market presents a mix of traditional and modern elements, offering a range of opportunities for growth and innovation. The region's diverse consumer base and rich textile heritage provide a strong foundation for the market, while the growing focus on sustainability and innovation is driving new developments in the industry.

• According to Cognitive Market Research, the Brazil Textiles market size was valued at USD 39929.15 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period. Textiles sales flourish in Brazil due to the nation's growing focus on sustainability and innovation.
• The Argentina Textiles market had a market share of USD 15673.12 million in 2024 and is projected to grow at a CAGR of 7.9% during the forecast period. The demand is augmented by Argentina's sustainability and innovation.
• The Colombia Textiles market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD 8303.02 million in 2024.
• The Peru Textiles market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 7649.98 million in 2024.
• The Chile Textiles market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 6717.05 million in 2024.
• The Rest of Latin America Textiles market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 15020.08 million in 2024.

Middle East and Africa Textiles

According to Cognitive Market Research, the global Textiles market size was estimated at USD 1865848.2 Million out of which Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD 37316.96 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031. In the Middle East and Africa (MEA) region, the textiles market is a dynamic and evolving sector with unique characteristics and opportunities. The region's diverse geography and cultural heritage influence the textiles industry, with different countries specializing in various aspects of textile production. The MEA textiles market is segmented based on raw materials, with cotton, chemical, wool, silk, and others being the primary materials used in textile production in the region. In conclusion, the MEA textiles market offers a range of opportunities for growth and innovation.

• The region's rich textile heritage, combined with its growing population and increasing disposable income, creates a favorable environment for the textiles industry.
• The GCC Countries Textiles market is projected to witness growth at a CAGR of 8.1% during the forecast period with a market size of USD 15971.66 million in 2024.Textiles sales flourish due to the region's growing population and increasing disposable income.
• The Egypt Textiles market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 3918.28 million in 2024.
• The South Africa Textiles market is projected to witness growth at a CAGR of 8.3% during the forecast period with a market size of USD 5896.08 million in 2024.
• Textiles sales flourish in the South Africa due to the region's increasing disposable income, creates a favorable environment for the textiles industry.
• The Turkey Textiles market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD 3209.26 million in 2024.
• The Nigeria Textiles market is projected to witness growth at a CAGR of 6.4% during the forecast period with a market size of USD 3918.28 million in 2024.
• The Rest of MEA Textiles market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 4403.40 million in 2024.

Textiles Market Analysis

Textiles Market Raw Material Segment Analysis

According to Cognitive Market Research, wool emerges as the dominant raw material, renowned for its natural warmth, breathability, and luxurious feel. Wool's popularity stems from its unique properties, including moisture-wicking, flame resistance, and durability. These characteristics make wool an ideal choice for a wide range of textile products, from clothing to blankets and carpets. Moreover, wool's biodegradability and sustainability add to its appeal, aligning with the growing demand for eco-friendly textiles.

The fastest-growing raw material in the textiles market is silk. Silk's luxurious texture, natural sheen, and hypoallergenic properties contribute to its rising demand in high-end fashion and home textiles. Additionally, silk's biodegradability and sustainability make it an attractive choice for environmentally conscious consumers. The increasing popularity of silk can also be attributed to technological advancements in silk production, such as the development of cruelty-free and organic silk, which cater to evolving consumer preferences.

• Cotton
• Chemical
• Wool
• Silk
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Textiles Industry. Request a Free Sample PDF!

Textiles Market Product Segment Analysis

According to Cognitive Market Research, polyester stands out as the dominant product category, known for its versatility, durability, and affordability. Polyester's popularity stems from its ability to mimic natural fibers like cotton and wool while offering superior resistance to wrinkles, shrinking, and fading. Additionally, polyester is easy to care for, making it a practical choice for a wide range of textile applications, from apparel to home furnishings. The widespread adoption of polyester in the textiles industry is also driven by its sustainable qualities, as recycled polyester, derived from post-consumer plastic bottles, helps reduce environmental impact.

The fastest-growing product category in the textiles market is natural fibers, including cotton, wool, silk, and linen. This growth is fueled by increasing consumer preference for sustainable, eco-friendly textiles. Natural fibers are biodegradable, renewable, and have minimal environmental impact compared to synthetic fibers. Additionally, natural fibers offer superior comfort, breathability, and moisture-wicking properties, making them highly desirable in the textiles market. The shift towards sustainable fashion and home textiles is driving the growth of natural fibers, with brands and consumers alike prioritizing environmentally friendly choices.

• Natural Fibers
• Polyester
• Nylon
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Textiles Application Segment Analysis

According to Cognitive Market Research, the household application segment emerges as the dominant category, encompassing a wide range of products such as bedding, towels, curtains, and upholstery. This dominance is driven by the constant demand for textiles in everyday household items, as well as the frequent need for replacement due to wear and tear. The household segment benefits from a steady consumer base and is less impacted by seasonal fluctuations compared to other segments, contributing to its dominance in the market.

The fastest-growing category in the textiles market is the technical segment, which includes textiles used in various technical applications such as automotive, aerospace, healthcare, and geotextiles. The growth of the technical textiles segment is fueled by advancements in textile technology and the increasing demand for high-performance textiles with specialized functionalities. Technical textiles offer properties such as flame resistance, abrasion resistance, and thermal insulation, making them essential in a wide range of industries.

• Household
• Technical
• Fashion & Clothing
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion