APAC Textile Industry - Growth, Trends, and Forecast (2020 - 2025)
The APAC Textile Industry is Segmented by Material, Process, and Application Type.
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
The APAC textile industry is estimated to be around USD 380 billion in 2018, and it is projected to witness a CAGR of approximately 5.5% during the forecast period to reach approximately USD 520 billion by 2024.
Asia is the main hub for the textile industry. Asia-Pacific is the leading region in the global textile yarn market, followed by North America. Polyester and cotton are widely used textile yarn products in the region.
Changing consumption patterns, increasing population, disposable incomes, the increasing demand for clothing, along with home furnishing products in the Asia-Pacific region, are the major growth factors.
China is the major exporter with a total share of 37% in the global trade of the textile and apparel sector, followed by other countries, like India, Bangladesh, Indonesia, Vietnam, and Cambodia.
The textile industry is a highly labor-intensive industry. Hence, the lower cost of production and cheap labor are the main reasons for the growth of the textile industry, in Asian countries.
The United States, European countries, the United Kingdom, and Japan are the major export markets for Asian countries. China controls about 40% of the global textile markets, and India claims the second position.
Scope of the Report
This report aims to provide a detailed analysis on the APAC textile industry. It focuses on the market dynamics, technological trends, and insights on various material, process, and application types. Also, it analyses the major players and the competitive landscape in the APAC textile industry.
By Material Type
Report scope can be customized per your requirements. Click here.
Key Market Trends
Growing Demand for Technical Textile Products in the APAC Region
The demand for technical textiles in APAC is expected to witness a CAGR of more than 12% during the forecast period.
The demand for the durable non-woven technical textile, investment promotion schemes by the governments in Asia, and the growing demand for diapers drive the growth of the disposable non-woven textile. Hence, the market for technical textile will increase in the Asia-Pacific region more significantly over the coming years, which, in turn, is expected to drive the textile industry in the region.
In 2018, China accounted for approximately 25% of the overall technical textile exports, globally, and it is the largest manufacturer of technical textiles in the world. Apart from China, countries in APAC, such as India, Bangladesh, Indonesia, and Vietnam, are expected to increase technical textile production due to the increasing demand from Europe and North America.
Also, APAC is expected to account for a 50% share of the global technical textile industry, due to the rapid growth in countries, such as China and India, particularly in the non-woven textiles segment over the next few years.
To understand key trends, Download Sample Report
Shift in Consumer Perception
The shift in consumer perception of affordable and comfortable clothing increases the demand for high-value fabrics, such as viscose, silk, and hemp. Blended varieties of fibers are also growing exponentially, due to significant features of artificial and natural yarn, thus, opening up new markets and growth opportunities in the coming years.
Polyester and cotton are widely used textile yarn products in the region. Changing consumption patterns, increasing population, disposable incomes, the increasing demand for clothing, along with home furnishing products in the Asia-Pacific region, are the major growth factors.
Also, the demand for home textiles is rising in the APAC region. Home textile includes products, such as blankets, bedsheets, table cloths, cleaning and kitchen cloths, drapes, bed covers, sheers, wall carpets, sleeping bags, terry towel, mattresses, quilts, pillows, tapestry, etc., which are utilized in the interiors of homes, hotels, offices, etc.
To understand geography trends, Download Sample Report.
The report covers the major players operating in the APAC textile industry. In terms of market share, the companies in the textile industry do not have considerable amount of market share as the market is highly competitive and fragmented.