Global Textile Market Report and Forecast 2024-2032

Textile Market Share

Wool is expected to hold a significant textile market share as it is widely used in producing winter wear

The wool segment accounts for a prominent share of the textile market. Wool’s impressive thermo-regulating and insulation properties drive its use in winter wear. Wool acts as an insulator and is widely consumed to produce home furnishings, such as carpets and rugs that essentially keep homes warm during winter. Australian sheep flock is largely Merino and a vast majority of this high-quality wool finds use in premium apparel and fashion garments.

As per the textile market analysis, cotton is among the most widely used textile fibres globally. Around 75% of the clothing products manufactured worldwide contain some amount of cotton. Cotton is a versatile material that finds application in different clothing, including denim, sarees, and home furnishing, as well as for making ropes and thick yarns.

Silk’s lightweight nature, shiny appearance, and luxurious feel support its popularity in the textile market. Additionally, silk is comfortable to wear in summer owing to its high absorbance quality, while its low conductivity makes it suitable for winter climates. China dominates the silk market as the largest producer and supplier of silk in the world.

According to the textile market report, chemical materials, like polyester are cost-effective textile materials. They are usually blended with cotton to improve their shrinkage, durability, and wrinkling profile. Polyester fabric is highly resistant to environmental conditions, which makes it ideal for long-term outdoor use.

Polyester is expected to hold a significant textile market share owing to its rising use in technical textile production

According to textile market insights, polyester’s remarkable durability, lightweight nature, and resistance to wrinkling make it well-suited for applications within the domain of clothing and textile manufacturing.

Additionally, polyester’s affordability, long life, flexibility, strength, moisture resistance, and ease of maintenance are driving its use in technical textiles, including upholstered furniture for households, dielectric films and film insulation for the electrical sector, and safety belts for automobiles.

Natural fibres include fabrics like cotton, silk, linen, hemp, modal, banana, and bamboo, among others. These fibres are low-cost, lightweight textile materials that are renewable and biodegradable. With a growing focus on sustainable fashion, natural fibres are rising in importance to help consumers replace non-biodegradable synthetic materials, there by impacting the textile market growth.

The studies on the development of more sustainable types of nylon are increasing, globally. Manufacturers are focussing on developing plant-based nylon. For instance, in April 2023, Lululemon, a Canadian athleticwear brand launched its first line of plant-based nylon shirts in collaboration with biotechnology company Geno. The launch was aimed at helping the company achieve its goal of selling 100% sustainable products by 2030.

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