The Latest Fabric Industry Statistics Explained
The global textile market size was valued at USD 961.5 billion in 2019.
The statistic indicates that the total value of the global textile market in 2019 was estimated to be USD 961.5 billion. This figure represents the combined value of all textiles and textile-related products traded and consumed worldwide during that year. The textile industry is a significant sector within the global economy, encompassing a wide range of products such as apparel, home textiles, technical textiles, and more. The market size serves as a key indicator of the industry’s economic importance and growth potential, reflecting the demand for textiles across various consumer and industrial sectors on a global scale.
The textile industry’s market size is expected to reach USD 1,248.1 billion by 2027.
The statistic indicates that the textile industry’s market size is projected to grow significantly, reaching a valued of USD 1,248.1 billion by the year 2027. This suggests a substantial expansion in the industry, driven by factors such as increasing demand for textiles, evolving consumer preferences, technological advancements, and economic growth. The projected growth highlights the sector’s potential for generating revenue and attracting investments in the coming years, and it underscores the importance of the textile industry within the global economy. This statistic can serve as a valuable insight for businesses, investors, policymakers, and other stakeholders looking to understand and capitalize on the opportunities presented by the textile industry.
The compound annual growth rate (CAGR) of the textile market is expected to be 4.3% from 2020 to 2027.
The compound annual growth rate (CAGR) of 4.3% for the textile market between 2020 and 2027 indicates the average annual growth rate over that period if the growth had been steady. This means that if the market were to grow consistently at a rate of 4.3% per year, the value of the textile market would increase by that percentage each year. CAGR provides a smooth representation of growth over time, taking into account the compounding effect, which is particularly useful when comparing different investments or markets. Therefore, this statistic suggests that the textile market is expected to grow steadily at a rate of 4.3% per year from 2020 to 2027.
The global fabric market size was valued at USD 132 billion in 2018.
The statistic that the global fabric market size was valued at USD 132 billion in 2018 indicates the total monetary value of all fabric products traded and sold worldwide during that year. This figure encompasses various types of fabrics, including cotton, polyester, silk, wool, and more. The market size serves as a key indicator of the scale and significance of the fabric industry on a global level, reflecting the demand for textiles across different sectors such as fashion, home textiles, industrial materials, and more. The figure of USD 132 billion highlights the economic importance and scope of the fabric market in 2018, demonstrating the substantial amount of money involved in the production, trade, and consumption of fabrics around the world.
The fabric market size is projected to reach USD 154.08 billion in 2023.
The statistic indicates the projected market size of the fabric industry in terms of revenue, which is estimated to reach USD 154.08 billion in the year 2023. This projection suggests that the fabric market is expected to grow significantly over the coming years, reflecting increasing demand for fabrics across various sectors such as fashion, home furnishings, and industrial applications. Factors contributing to this growth may include evolving consumer preferences, technological advancements in textile production, and global economic trends. The forecasted market size serves as a valuable metric for industry stakeholders and decision-makers to understand the scale and potential of the fabric market, enabling them to make informed strategic decisions and investments.
Natural fibers hold a market share of 30.8% in the global fabric market as of 2018.
The statistic stating that natural fibers hold a market share of 30.8% in the global fabric market as of 2018 indicates the proportion of fabric made from natural sources, such as cotton, wool, silk, and linen, compared to synthetic or man-made fibers. This suggests that natural fibers are a significant player in the textile industry, with a substantial presence in the market. The statistic provides valuable insights into consumer preferences, sustainability considerations, and trends in the fashion and textile sectors, highlighting the enduring appeal and importance of natural materials in the global fabric market.
The Asia-Pacific region has the largest share of the global fabric industry at around 68%.
The statistic that the Asia-Pacific region holds the largest share of the global fabric industry at around 68% indicates the dominant position of countries in this region in the production and supply of fabric globally. This high market share implies that a significant majority of fabric manufacturing and trade activities take place in Asia-Pacific countries such as China, India, and Bangladesh. The region’s competitive advantage may be attributed to factors such as lower production costs, a skilled workforce, established infrastructure, and large-scale production capabilities. As a result, the Asia-Pacific region plays a crucial role in shaping the fabric industry’s dynamics, influencing global supply chains and trade patterns in the textile and apparel sectors.
The apparel end use segment accounted for more than 50% of the global fabric market in 2017.
The statistic indicates that in 2017, the apparel end use segment was responsible for over half of the total global fabric market. This means that a majority of fabric production during that year was intended for use in clothing and textiles. The dominance of the apparel segment highlights the significant demand for fabrics in the fashion industry, driven by factors such as consumer preferences, trends, and economic conditions. This statistic underscores the importance of the apparel industry as a key driver of the global fabric market and signifies the substantial impact that the clothing sector has on the overall textile supply chain.
The CAGR of the global fabric market is projected to be around 5.0% from 2020 to 2030.
The CAGR, or Compound Annual Growth Rate, of the global fabric market projected to be around 5.0% from 2020 to 2030 indicates the average annual growth rate of the market over this period. This statistic suggests that the global fabric market is expected to steadily increase by 5.0% each year on average from 2020 to 2030. This growth rate provides insight into the potential expansion and development of the fabric industry on a global scale, serving as a key indicator for investors, businesses, and policymakers to monitor and plan for future market trends and opportunities within the textile and apparel sectors.
As of 2018, China was the largest exporter of textiles, exporting textiles worth approximately $119 billion.
The statistic indicates that in 2018, China held the position of being the largest exporter of textiles globally, with exported textile products valued at around $119 billion. This figure highlights China’s significant role in the global textile industry, as its exports accounted for a substantial portion of the total value of textile exports worldwide. The statistic showcases China’s dominance in the textile market, with its manufacturing capabilities and cost-effective production processes enabling it to export vast quantities of textiles to various countries around the world. This position as the leading exporter underscores China’s importance in the global textile supply chain and its impact on international trade and commerce within the industry.
The global demand for technical textiles was estimated to be 34.37 million tons in 2020.
The statistic stating that the global demand for technical textiles was estimated to be 34.37 million tons in 2020 provides valuable insight into the significant volume of technical textiles required worldwide for various applications. Technical textiles are specialized materials designed for functional purposes such as durability, strength, resistance to chemicals, and other specific properties, making them essential for industries such as automotive, construction, healthcare, and sports. The high demand for technical textiles emphasizes the importance of these materials in modern society and highlights the ongoing need for innovative solutions and advancements in textile technology to meet the diverse and evolving requirements of different sectors.
The technical textile market is expected to grow at a CAGR of about 4.0% between 2021 and 2026.
This statistic indicates that the technical textile market is projected to experience a compound annual growth rate (CAGR) of approximately 4.0% over the period between 2021 and 2026. A CAGR of 4.0% implies a steady and consistent growth rate over the specified time frame. This forecast suggests that the demand for technical textiles, which are specialized fabrics designed for specific technical performance properties, is expected to increase at a moderate pace during the next five years. Factors driving this growth could include advancements in technology, increasing applications of technical textiles across various industries such as automotive, healthcare, and construction, as well as changing consumer preferences for more sustainable and functional textile products.
As of 2021, the digital textile printing market is expected to reach $8.8 billion by 2021 worldwide.
The statistic “As of 2021, the digital textile printing market is expected to reach $8.8 billion by 2021 worldwide” indicates that the global digital textile printing industry is projected to grow and generate revenue of $8.8 billion by the end of the year 2021. This suggests a significant market expansion in the textile printing sector due to the increasing adoption of digital technology in the textile industry for printing purposes. The statistic highlights the growing demand for digitally printed textiles, driven by factors such as customizability, faster production times, eco-friendly practices, and a wider range of design options. The expected market value reflects the potential profitability and attractiveness of digital textile printing as a key technology shaping the future of the textile industry.
The global smart textile market is projected to reach $5.55 billion by 2025.
The statistic indicates a forecasted value for the global smart textile market, estimating its size to reach $5.55 billion by the year 2025. This projection suggests a significant growth trend in the adoption and demand for smart textiles, which are fabrics integrated with technology to provide additional functionalities such as monitoring, communication, and even data transmission. Factors driving this anticipated market expansion may include advancements in wearable technology, increasing consumer interest in fitness and health monitoring devices, and the development of smart clothing for various industries. As a result, companies operating in the smart textile sector can capitalize on this projected market value by investing in research and development, innovation, and strategic marketing to meet the growing demand for smart textiles in the coming years.
Synthetic fibers accounted for about 63% of the global fiber production in 2018.
In 2018, synthetic fibers dominated the global fiber production landscape, comprising approximately 63% of the total fibers produced worldwide. This statistic indicates a significant trend towards the increasing popularity and usage of synthetic fibers in various industries such as fashion, textiles, and manufacturing. The growth of synthetic fibers can be attributed to factors such as their versatility, durability, and cost-effectiveness compared to natural fibers. The substantial market share held by synthetic fibers highlights their importance in meeting the growing demand for textiles and materials in both consumer and industrial markets around the world.
China’s fabric market is expected to grow at a CAGR of approximately 5.5% from 2020 to 2025.
This statistic indicates that the fabric market in China is anticipated to show a Compound Annual Growth Rate (CAGR) of around 5.5% during the period spanning from 2020 to 2025. The CAGR is a representation of the smooth annualized rate at which the market is expected to grow over the specified time frame. In this case, a growth rate of 5.5% suggests steady expansion in the fabric market in China over the next five years. This forecast is based on various factors such as market trends, consumer demand, economic conditions, and government policies that are expected to influence the fabric industry in China.
Indian textile and apparel market was worth US$ 140 Billion in 2018.
The statistic stating that the Indian textile and apparel market was worth US$ 140 billion in 2018 indicates the total value of goods sold in this industry within India during that year. This figure reflects the significant size and economic importance of the textile and apparel sector in India, highlighting its substantial contribution to the country’s GDP and employment. The market value suggests a high level of consumer demand for clothing and textile products in India, making it a key player in the global textile and apparel industry. Furthermore, this statistic provides valuable insight for stakeholders interested in investing, manufacturing, or trading within the Indian textile and apparel market.
The African textile industry is expected to reach $6.05 billion by 2025, growing at a CAGR of 4.8%.
The statistic indicates that the African textile industry is projected to achieve a market value of $6.05 billion by the year 2025, with this growth driven by a compound annual growth rate (CAGR) of 4.8%. This suggests that the industry is expected to expand steadily over the specified timeframe. The forecasted growth rate of 4.8% signifies a moderate yet consistent increase in the market size, reflecting a positive outlook for the textile sector in Africa. Factors contributing to this growth could include increasing consumer demand, improved infrastructure, technological advancements, and potentially favorable government policies supporting the industry. Overall, the statistic suggests that the African textile industry is poised for growth and presents opportunities for stakeholders within the market.
References
0. – https://www.www.statista.com
1. – https://www.www.futuremarketinsights.com
2. – https://www.www.researchandmarkets.com
3. – https://www.www.mordorintelligence.com
4. – https://www.www.prnewswire.com
5. – https://www.www.marketresearch.com
6. – https://www.www.fibre2fashion.com
7. – https://www.www.grandviewresearch.com
