Latin America Textile Market Report and Forecast 2024-2032

Latin America Textile Market Outlook

The Latin America textile market size reached USD 91.93 billion in 2023. The market is projected to grow at a CAGR of 3.5% between 2024 and 2032, reaching almost USD 124.68 billion by 2032.

Key Takeaways:

• Mexico is expected to lead the Latin America textile market over the forecast period.

• The consolidated fashion sector of Colombia is recognised for its craftsmanship and high-quality.

• Fashion and clothing is anticipated to dominate the market in the coming years.

The Latin America textile market growth can be attributed to factors such as rapid urbanisation, healthy economic growth in the region, and the rising demand for textiles in applications like apparel and home furnishing. In Latin America, Brazil is recognised for its man-made and natural fibres whereas Peru is reputed for its abundance of textile raw materials such as camel hair and llama, among others.

As American companies rise to the challenge of meeting supply chain problems amid rising geopolitical crises, the textile sector of Latin American countries like Mexico is expected to witness significant growth. This is because their proximity to the USA eases logistical complexities and reduces the cost of transportation of goods. Moreover, as the industry attempts to negotiate trade rules under the USMCA agreement, the Latin America textile market expansion is expected to receive a boost in the forecast period.

Sustainability has become an integral part of the Latin America textile market development. Peru-based textile manufacturer Nuevo Mundo is shifting towards utilising smart indigo technology for dyeing its denim fabrics. This is different from chemical production of liquid indigo, which emits 90% more carbon dioxide and consumes 70% more energy. It is also relatively more cost-effective and ensures a higher degree of occupational safety. This is expected to accelerate the market growth by prompting other companies to attract consumer attention by investing in sustainable technologies.

Market Segmentation

Latin America Textile Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Material

• Cotton

• Chemical

• Wool

• Silk

• Others

Market Breakup by Product Type

• Natural Fibres

• Polyester

• Nylon

• Others

Market Breakup by Application

• Household
  • Bedding
  • Kitchen
  • Upholstery
  • Towel
  • Others

• Technical
  • Construction
  • Transport
  • Protective
  • Medical
  • Others

• Fashion and Clothing
  • Apparel
  • Ties and Clothing Accessories
  • Handbags
  • Others

• Others

Market Breakup by Country

• Brazil

• Mexico

• Argentina

• Others

The key market players are Anglés Textil S.A., Parkdale, Incorporated, Aztlan Textil SA de CV, Citosa Textiles SA de CV, CS Tech Contract Manufacturing, Novalan, S.A. de C.V., GRUPO TEXTIL ALTEX, S.A. DE C.V., TURBO YARN SA DE CV, Enka De Colombia S.A., CI Creytex SA, and Protela S.A, among others.

Key Highlights of the Report