Market Size of Egypt Textile Manufacturing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Egypt Textile Manufacturing Market Analysis
The Egyptian textile manufacturing industry is anticipated to register a CAGR of over 4% during the forecast period. The textile manufacturing industry had been hit hardest during the COVID-19 outbreak. According to Egypt's Garment Export Council, exports in the first half of 2020 fell by 29%, while the decline in output reached 40%. Companies also faced serious financial problems as international companies began canceling orders and delaying payments and deliveries. However, exports began to recover from the fourth quarter of 2020, ending 2020 "slightly" with a 14% decline in total export value.
- Egypt's textile manufacturing industry is the second largest industry, with a 25% share in the entire apparel sector, which accounts for 3% of GDP, and it is largely affected by the pandemic. Even with factories remaining open, textiles exports slumped 14% in 2020 to USD 2.81 billion compared to 3.721 billion in 2019. It is recovering due to rising foreign investments of USD 17.5 billion and the government trying to quadruple textile and garment exports by 2025.
- The textile industry is one of the five backbone industries of the Egyptian economy. It is a key supplier of primary textile materials to garment, Home Textile Makers, and other industries. Both domestically and internationally, with having duty-free market access to the United States and European Union countries' textiles markets, it accounts for 50% of its exports to the United States and 30% to European countries.
- In March 2022, Egypt planned to open the world's largest textile factory in the city of El-Mahalla. With approximately 185,000 spinning mills, the mill is planned for a daily production capacity of 30 tons of fine yarn and 25 tons of thick yarn. It announced incentives to grow high-quality cotton that fulfill factory needs, which are expected to create opportunities for the players operating in the market.
