Global textile market is growing at a rapid pace. As a result, all segments related to textiles are growing as well. Here’s a sneak peek into the growth landscape of some of the promising textile segments that are slated to make a mark…
According to MRFR analysis, the global textile chemicals market size was estimated at $9.80 million in 2016, expected to expand at CAGR of over 3.2 per cent by 2022. Global apparel industry is expected to drive the market during this period. Increasing demand for technical textile across numerous end-use applications is also expected to be beneficial for overall market growth. Good qualities are used into technical textile products as compared to their conventional counterparts. Demand for technical apparel is increasing in the US amongst end-use industries such as home furnishings, apparel, industrial textiles, technical textiles the demand for specialty chemicals required for is production has also enlarged.
Textile colourant market
Textile colourant market is projected to increase to 6,248,000 tonnes in 2017. Demand is anticipated to remain steady due to growing applications in apparel and automotive industries. Owing to low labour costs and infrastructure development, demand is expected to remain higher in developing countries, among which Asia Pacific accounted 53 per cent revenue share in 2014. China colourants market is anticipated to grow at 5.2 per cent in value terms during this period. Excluding Japan, Asia Pacific remains the largest market for textile colourants globally expected to grow to 925.5000 tonnes in 2017.
Global nonwovens market will grow to $50.8 billion in 2020, up from $37.4 billion in 2015, reveals Smithers Pira study. Global consumption in 2015 was 9.0 million tons and this will increase at annual rate of 6.2 and 7.2 per cent respectively over the next few years with consumption scheduled to reach 12.1 million tonnes in 2020. The nonwoven industry is now truly global and Asia is the dominant nonwoven producing region, accounting for 42 per cent of world’s production in 2014. China accounts for a significant 66 per cent of Asia volume and is the most important nonwovens producer worldwide with production volume in 2014 estimated at 2.4 million tonnes and increasing gradually.
A recent report highlights global silk market is projected to reach $16.94 billion by 2021, growing at a CAGR of 7.8 per cent from 2016 to 2021. Growth can be attributed to technological advancements in sericulture, which directly increases yield of silk, thereby affecting the silk market. Moreover, silk is a low capital investment industry, in terms of technology and labour, which is driving the market globally. The Asia-Pacific region is the largest market for silk. China dominates the silk market in the Asia-Pacific region followed by India due to easy availability of raw silk in the two countries.
Technavio’s market research predicts global hosiery market will grow at a CAGR of around 4 per cent. Consumers are looking for quality, durability, fit, style, and glamour while purchasing hosiery products. Increasing concern about personal grooming and appearance is one of the major market drivers. In terms of revenue, the socks segment dominated the global hosiery market in 2015 with a share of more than 69 per cent.
Future Market Insights’ recent report on global technical textiles market projects Asia-Pacific will be the world’s largest for technical textiles from period 2017-2027. The report values the global technical textiles market at little less than $166 bn, and anticipates it to reach $260.3 bn by end of 2027. While global market for technical textiles is projected to grow at below average pace and register a CAGR of 4.6 per cent, demand is likely to gain traction across Asia-Pacific such as India and China, among others.