Textile Staples Market Size is to reach US$ 2,75,489.9 Mn by 2032
The global textile staples market is expected to witness lucrative growth opportunities over the projection period from 2022 to 2032 with sales projected to surge at a CAGR of 5.5%. The global market is valued at US$ 1,61,280.2 Mn in 2022 and is anticipated to reach US$ 2,75,489.9 Mn by 2032.
The growth in the market is attributed to the
widespread consumption of textile staples in several end-use industries such as
apparel, general and leisure, sportswear, interior flooring, and others is
expected to push the sales during the forecast period.
According to Future Market Insights, historical
analysis of the global textile staples market surged at a pace of 5.0% CAGR
from 2012 to 2021. According to the present estimations, the global market is
poised to expand at a 5.5% CAGR between 2022 and 2032.
A staple fiber plays a vital role in fabric and
garment manufacturing. Changing fabric preferences, especially among
millennials, is expected to boost the textile industry, driving growth in the
textile staples market.
On the basis of application, the apparel segment is
anticipated to contribute about 50% of the total sales and register growth at
approximately 3.6% CAGR throughout the assessment period.
Besides this, the interior flooring segment is
anticipated to witness the fastest growth over the forthcoming decade.
Regionally, Asia Pacific excluding Japan (APEJ) is expected to be the leading
region during the upcoming decade.
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Key Takeaways
- In
comparison with stable fibers such as viscous rayon and polyester, natural
staple fibers are used more including cotton, jute, and wool. The demand
for natural and eco-friendly textiles is anticipated to surge over the
years because the consumption of synthetic staple fibers negatively
impacts the environment.
- According
to FMI analysis, cotton is one of the most extensively grown and utilized
staple fibers in the textile industry. Since it is known as a multipurpose
fiber, it consists of the qualities of cooling, absorption, and softness
and is used to make clothing for hot weather. Wool from sheep has
insulating qualities which makes it excellent for use in the production of
knitted warm clothing.
- The
use of synthetic fibers is extensive among end users. Therefore, prominent
companies are producing one of the most popular synthetic fibers,
polyester, in a sustainable manner. PET bottles and polyester waste is
utilized to create recycled polyester staple fiber. Among several other
things, recycled polyester is utilized in carpets, pillows, blankets, and
high-end cushions.
- According
to a recent study, India spent around US$ 2.5 billion on the textile
industry and was expected to host “Textile Week” at the Indian Pavilion in
EXPO2020. This boosted the sales in the global staple fiber market is
expanding in the present assessment period due to increased investment in
the textile sector and a rise in demand for sustainable textile materials.
- Growth
in the global textile staples market is anticipated to surge with the
growing expansion of the pharmaceutical and healthcare industry and rising
applications in the automotive and construction sectors. By the end of
2022, the global textile staples market is expected to witness phenomenal
sales.
Competitive Landscape
Prominent manufacturers in the market are
strategically surging their market presence all over the world by penetrating
their way into emerging economies to set up their manufacturing units to
decrease operating costs and maximize profit.
- EI
Du Pont de Nemours and Company
- Lenzing
AG
- International
Fibers Group
- invest
- Thai
Acrylic Fiber Co. Ltd. (Aditya Birla Group)
- Toray
Group
- Chori
Co., Ltd.
- W.
Barnet GmbH & Co. KG
- Cellulose
Cotton Wool Corporation of India
- Teijin
Frontier Co., Ltd.
- Belgian
Fibers SA
- Grasim
Industries Limited
- Indorama
Ventures Public Company Limited
- Reliance
Industries Limited
More Insights into the Textile
Staples Market
Textile manufacturers shifting from manufacturing
generic textile products to niche technical textile products are facing lesser
international competition. The main focus of manufacturers is the production of
cheap textiles in higher volumes. Subsequently, leading companies in the U.S.
are expanding their product lineup in the healthcare-related business to gain
competitive edge.
Read
Full Report @ https://www.futuremarketinsights.com/reports/textile-staples-market
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