DUBLIN–(BUSINESS WIRE)–The “Textile Industry – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The COVID-19 pandemic has challenged the textile industry drastically in 2020. Asia, which is one of the largest markets for the textile industry in the world, has suffered from the prolonged lockdowns and restrictions in the majority of Asian countries along with the sudden drop in international demand for their products.
The loss was particularly high in countries where the textile industry accounted for a larger share of the exports. According to the study by the International Labour Organization (ILO) the global textile trade collapsed during the first half of 2020. Also, exports to the major buying regions in the European Union, the United States, and Japan fell by around 70%. The industry also suffered several supply chain disruptions due to the shortages of cotton and other raw materials.
Companies Mentioned
- Toray Industries Inc.
- B.C. Corporation
- Industria de Diseno Textil SA (Inditex SA)
- Shandong Weiqiao Pioneering Group Company Limited
- Nisshinbo Holdings Inc.
- Chori Co. Ltd
- Texhong Textile Group Ltd.
- Aditya Birla Nuvo Ltd
- Hyosung TNC Corp.
- PVH Corp.
- Far Eastern New Century Corp
- Arvind Ltd
Key Market Trends
Increasing Demand for Natural Fibers
Natural fiber composites are relatively lighter and have more strength than conventional fibers, and therefore, find extensive application in the automotive industry for interior and exterior applications. Natural fibers obtained from plants and animals include cotton, silk, linen, wool, hemp, jute, and cashmere. These fibers are widely used to manufacture garments, apparel, construction materials, medical dressings, and interiors of automobiles, among others. The abundance of natural fibers, especially cotton, in China, India, and the United States, is contributing significantly to the growth of the global textile market. Silk is used in upholstery and apparel, as it is available in both variations fine as well as coarse. Wool and jute are used as textile materials for their resilience, elasticity, and softness. The increasing consumption of natural fibers, such as cotton, silk, wool, and jute, will drive the global textile market during the forecast period.
Shifting Focus Toward Non-woven Fabrics
The increasing birth rate and aging population has contributed to the growing demand for hygiene products, such as baby diapers, sanitary napkins, and adult incontinence products, which, in turn, is expected to fuel the demand for non-woven fabrics. Nonwovens are used in road construction in the form of geotextiles to increase the durability of roads. Low maintenance costs associated with nonwovens are expected to fuel its demand in construction applications. The positive outlook of the automobile and transportation industry, globally, is further expected to propel growth for the non-woven fabric market over the next years. The automobile industry manufactures a large number of exterior and interior parts using non-woven fabrics owing to their durability. Rapid industrialization and recent innovations in the field of textile technology are other factors fueling demand for non-woven fabrics, globally.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/Challenges
4.4 Market Opportunities
4.5 Value Chain/Supply Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.7 Technological Innovation in the Industry
4.8 Impact of COVID-19 on the Textile Industry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Clothing Application
5.1.2 Industrial/Technical Application
5.1.3 Household Application
5.2 Material
5.2.1 Cotton
5.2.2 Jute
5.2.3 Silk
5.2.4 Synthetics
5.2.5 Wool
5.3 Process
5.3.1 Woven
5.3.2 Non-woven
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
7 FUTURE OF THE MARKET
8 DISCLAIMER
For more information about this report visit https://www.researchandmarkets.com/r/ppwr13
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