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Global textile market expanding at four per cent

The global textile market is expanding at a CAGR of 4.24 per cent. Population growth, rising disposable income levels, and rapid urbanization in developing countries like China, India, and Mexico are likely to boost product demand. Moreover, an increasing number of supermarkets and retail outlets in these countries is expected to drive the demand further.

Development of technical textiles that offer protection against high temperatures, electric arc flash discharge, molten metal impact, and acid environment is estimated to fuel the textile market growth. Therefore, the growing personal protective equipment market is expected to drive demand for textile products.

Middle East and Africa are projected to witness a revenue growth of 4.19 per cent from 2019 to 2025 owing to constant product innovations in the apparels application segment. Asia Pacific is expected to register the highest CAGR during the forecast years. Cotton is the most widely used raw material in the global textile industry owing to its excellent durability and resistance to dust mite and hypoallergenic property. In terms of volume, polyester held a market share of 28.04 per cent in 2018 and will grow further owing to its properties such as high strength and excellent shrink resistance.

 
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