According to an ESOMAR-certified market research and consulting firm FactMR’s market intelligence report, knitted fabric sales will rise at nearly 5 per cent CAGR from 2021 to 2031, reaching almost US$ 40 billion in revenue.

Historically, the market expanded at a CAGR of 4 per cent, closing in at around $ 24 billion by the end of the 2016-2020 periods. Advanced knitted fabrics with high compression strength, anti-tear, and flame-resistant properties have been developed as a result of technological advancements. Manufacturers' productivity has risen as a result of the rapid use of 3D knitting machines.

The growing usage of high-tech medical textiles in healthcare applications is projected to open up a slew of new prospects for knitted fabric manufacturers. To improve the texture and flexibility of knitted materials, they are using new printing processes.

By fabric type, warp-knitted fabrics will yield over 50 per cent of market demand by 2031. The automotive industry will remain dominant application area, growing at almost 5 per cent CAGR. The US will emerge as a substantial market, expected to register a CAGR of around 4 per cent. Asia will be the maximum contributor to market demand, yielding almost 60 per cent of overall sales