Top 6 Companies in the Textile Market Worldwide

The global textile market attained a value of USD 987.95 billion in 2023. The market is expected to grow at a CAGR of 3.6% between 2024 and 2032, reaching almost USD 1,354.27 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by rising technological advances, a growing population, and a rise of fast fashion.

According to a United Nations report from June 2023, the global population is expected to reach 9.8 billion in 2050, up from 7.6 billion in 2023. In addition to the rising demand for apparel, the growth of e-commerce is set to aid the global textile market. About 33% of the worldwide population was using e-commerce in 2023.

Consumers now seek unique, personalised products that reflect their values, leading the textile sector to embrace customisation trends. Technological advancements like 3D printing, digital textile printing, and CAD enable on-demand fabric production, reducing waste. The fashion and clothing market is expanding in Asian economies such as India and China due to rising disposable incomes and improving living standards.

Further, the use of smart textiles, which interact with the environment through optical fibres, metals, and conductive polymers, is boosting the technical application segment. Growing consumer preference for sustainable products is prompting major companies to invest in eco-friendly practices, such as DuPont's plant-based faux fur and Eastman's recycling of discarded carpets, which are expected to create new opportunities for the market expansion. Environmental concerns are increasing demand for eco-friendly, biodegradable, and sustainable textiles. Initiatives like the United Nations' Sustainable Development Goals 2030 are encouraging consumers to choose products with minimal carbon footprints. This shift towards sustainability is pushing manufacturers to adopt environmentally friendly practices, aligning with the rise of sustainable fashion. Additionally, the demand for technical textiles is growing due to their enhanced functional properties, making them suitable for industrial applications such as healthcare, construction, and automotive sectors.

Top 6 Textile Companies in the World:

BSL Limited

BSL Ltd is a leading textile company, manufacturing and exporting a diverse range of products, including suiting, furnishings, and yarns. As a prominent South Asian supplier, it provides furnishing fabrics to IKEA and reaches 25 other nations. With a vast distribution network in 60 countries, BSL delivers 20 million meters of fabric annually. Listed on the National Stock Exchange of India Ltd. and BSE Limited, BSL offers products under three main segments: suiting, furnishings, and yarns. Their suiting brands include Geoffrey Hammonds and GH Insignia, while their furnishings segment offers drapery, upholstery, made-ups, and luxury silk fabrics, along with polyviscose, poly-wool, vortex, and cotton yarns.

Lu Thai Textile Co., Ltd.

Luthai Textile Co., Limited is a global leader in high-grade yarn-dyed fabrics and a producer of premium shirts. The company manages yarn spinning, dyeing, finishing, garment manufacturing, and brand marketing with a vertically integrated industrial chain. Annually, Luthai Textile produces 220 million meters of yarn-dyed fabrics, 90 million meters of piece-dyed fabrics, and 30 million shirts. The company produces yarns and fabrics from cotton, fibre, silk, wool, and chemical fibres, with up to 20,000 varieties and designs of yarn-dyed fabrics each year.

Paulo de Oliveira, S.A.

Paulo De Oliveira S.A. is a vertically integrated textile company based in Portugal, managing the entire production process from yarn to fabric. They are a leading producer of comfort fabrics in Europe and focus on developing functional textiles. Their notable offerings include formal wear fabrics for suits, jackets, and trousers, sportive fabrics for casual wear, event and ceremony fabrics, technical fabrics for outerwear, elastic fabrics for comfortable overshirts, and ladieswear fabrics under the Pink label. The group comprises three companies within the textile segment: Paulo De Oliveira, Penteadora, and Tessimax.

Successori Reda SpA

Successori Reda S.p.A., known as Reda, manufactures fine pure wool fabrics for classic men's suits. Based in Valle Mosso, Biella, the company has overseen the entire production process from fleece to finished fabric for nearly 150 years. Reda's offerings include Merino wool fabrics and collections like Cosmopolitan and Winter Edit. The Reda Active segment features machine washable, stretchy suits, and innovative fabrics like Reda Active shirt fabric. The Reda Flexo segment provides BeStretch fabrics for superior stretch, smart stretch fabrics, and Made-in-nature fabrics combining wool and cellulosic fibers.

Shandong Ruyi Woolen Garment Group Co., Ltd.

Shandong Ruyi Woolen Garment Group Co., Ltd., formerly Jining Woolen Textile Factory, specializes in worsted fabrics and technical textiles. The company operates with two wholly-owned subsidiaries: Xinjiang Jiahe Wool Textile Co., Ltd. and Tai'an Ruyi Technology Fashion Industry Co., Ltd. Additionally, it holds a controlling stake in Wenzhou Zhuangji Clothing Co., Ltd. Together, these subsidiaries employ over 3,800 individuals. Shandong Ruyi continues to be a major player in the textile industry.

Toray Industries, Inc.

Toray Industries, Inc. produces and markets fibres and textiles, performance chemicals, carbon fibre composite materials, environmental and engineering products, and life science products. The company operates in over 29 countries with 306 subsidiaries. It employs 48,140 people globally. The company is listed on the Tokyo Stock Exchange under the code 3402.