The global textile is estimated to record a substantial CAGR during the forecast period (2020-2026). The textile sector is remarkably diverse with an abundance of material available across the globe. Increasing population, disposable income, and urbanization in countries including China, India, Brazil, and Mexico, among more have given rise to the growth rate of the overall textile industry.
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The global textile industry is labor-intensive and provides a plethora of jobs not just for skilled but unskilled labor in developed as well as developing nations. Job creation has played an important role in driving the industry, with prospects strong for women in small countries. Moreover, it is a vertical where modern technological advances have been witnessed not just in large economies, but in small countries as well, at comparatively low expenditures. These technological characteristics of the sector make it a suitable one for countries pushing industrialization.
At the same time, large countries have witnessed significant transformations, as the textile industry has added a high-value segment where designs and R&D have been rather competitive factors. These advancements have pushed the industry towards substantial growth, in turn, intensifying the market value in recent years.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Material, Application
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Aditya Birla Group, Ralph Lauren Corp., Reliance Industries, Ltd., Shandong Weiqiao Pioneering Group Co., Ltd., and Toray Industries, Inc.
Global Textile Market Report Segment
By Material
- Cotton
- Jute
- Silk
- Synthetic
- Wool
- Others
By Application
- Fashion and Clothing
- Industrial/Technical
- Household
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
