Market Size of Indonesia Textile Manufacturing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Textile Manufacturing Market Analysis
The Indonesia Textile Manufacturing Market is expected to record a CAGR of greater than 5% during the forecast period (2023-2028).
- Indonesia's push to new export markets, leveraging its ties with Muslim nations, is also contributing to development. Several Muslim-majority nations now account for half of Indonesia's trade missions and discussions, and textiles are now heavily exported there. As clothing manufacturers continue to relocate manufacturing away from China, Indonesia offers an appealing option. China's worldwide cotton imports are declining, and most cotton exports are being channeled to competitive nations such as Indonesia. China's cotton imports are expected to climb by just 3.5 million bales between 2021 and 2030, compared to an anticipated 8.1 million bales for the major rival garment nations, Indonesia, Vietnam, Pakistan, Bangladesh, and Turkey combined.
- An increase in exportation to major countries like the United States, the European Nations, and the Middle East has led to the rapid development of the Textile Manufacturing Industry. High dependency on imported raw materials is likely to act as a restraint for the market. To expand the Indonesian Textile Manufacturing Industry, the Indonesian government has encouraged Textile Product Industry ( TPT ) to explore the fashion industry and meet its demand, which will open many new opportunities for this industry during the forecast period.
- Companies in the industry can profit from high-quality products, substantial government backing, and cheap labor costs. Nonetheless, outdated gear and a reliance on imported raw materials result in lower manufacturing costs. Companies looking to enter the textile and apparel manufacturing sector in Indonesia will discover significant development potential in an already robust market.
