INDUSTRY INSIGHTS OF THE TEXTILE MARKET

 

The worldwide textile machinery industry is divided into distinct categories based on the type of raw material employed (cotton, wool, nylon, polyester, acrylic, silk, and other variants), the specific machine utilized (spinning machines, weaving machines, knitting machines, texturing machines, and other variations), the channel of distribution (direct and indirect), the intended application (garments and apparel, household and home textiles, and technical textiles encompassing medical, protective, sports, and similar domains), as well as the geographical regions (North America, Asia-Pacific, Europe, the Middle East and Africa, and South America) where these operations are carried out.

Textile Raw Material Market Insights

l The cotton segment emerged as the front-runner in the global textile raw materials market in 2022, capturing a substantial 38.9% of the total revenue share. Cotton stands out for its exceptional water absorbency, color retention, and status as the foremost natural fiber worldwide. Key cotton and cotton-based product producers include China, India, and the U.S., where the burgeoning demand for garments and apparel is fueling the textile industry's expansion. Consequently, the segment is anticipated to witness significant growth during the forecast period. According to a report by Textile Exchange, Brazil, India, China, Pakistan, the U.S., Australia, Cameroon, and Côte d'Ivoire account for over 95% of industrial-grade cotton production.

l Chemical fiber-based textiles are projected to reach a market volume of 68,609.1 million tons by 2022, as per the report. Despite their adverse effects on human health and the environment, chemicals play a crucial role in the textile manufacturing industry, finding use as mercerizing agents, neutralizers, leveling agents, binders, thickeners, and stain removers.

l Wool, primarily composed of hydrogen, carbon, sulfur, and nitrogen, serves as a key ingredient in the production of insulating products like winter clothing, blankets, carpets, and upholstery. Wool-based textiles accounted for a notable 13.3% of the market's revenue share in 2022, highlighting the significance of wool in the textile raw material domain. Moreover, wool exhibits applications beyond clothing, with its ability to absorb odors and reduce noise in heavy machinery, thereby contributing to the growth of technical applications.

Additional raw materials employed in textile manufacturing encompass silk, minerals like glass fibers and asbestos, and various synthetic substances. Silk, renowned for its strength and elasticity, finds extensive utilization in the fabrication of garments, surgical sutures, parachutes, silk quilts, and a myriad of other products. The intrinsic qualities of silk are poised to propel the expansion of this segment throughout the projected period.

Textile Products Insights

Within the textile products market, natural fiber products reign supreme, commanding an impressive annual revenue market share of 44.1% by 2022. Natural fibers find extensive applications in the fashion and apparel industry, fueling their prominence. The mounting concerns regarding environmental issues, coupled with the escalating consumer inclination toward sustainable alternatives, are poised to further augment the demand for natural fibers. Consequently, the overall textile products market is projected to experience substantial growth.

The burgeoning demand for natural fibers from the apparel and fashion sector stands as a key driver for the growth of the natural fibers segment in the textiles market. However, it is anticipated that the higher cost of natural fibers compared to synthetic fibers may present a hindrance to the expansion of the natural fibers market in the near future.

Polyester fibers are anticipated to witness a robust revenue growth rate of 7.4% from 2023 to 2030. This growth can primarily be attributed to the advantageous characteristics of polyester fibers, including high strength, chemical resistance, wrinkle resistance, and quick drying properties. Nylon, on the other hand, finds applications in both household settings, serving as cushioning and insulation for pillows, as well as industrial domains, where it is utilized in the production of carpeting, air filters, coated fabrics, and a diverse range of other products.

Nylon products, standing as the third most prevalent category in the textile industry, are poised to exhibit the highest compound annual growth rate (CAGR) of 8.1% during the forecast period. Renowned for its remarkable attributes of resilience, elasticity, and moisture-wicking properties, nylon finds wide-ranging applications in apparel and home furnishing sectors. Notably, nylon serves as a compelling substitute for silk-based products such as women's stockings, parachutes, and bulletproof undershirts.

Other notable textile products encompass polyethylene (PE), polypropylene (PP), aramid, and polyamide. The textile market has witnessed an upsurge in demand for polyethylene owing to its advantageous qualities, including acid and alkali resistance, high-temperature endurance, and low moisture retention. Simultaneously, the utilization of polypropylene in the textile industry serves as an additional catalyst propelling market growth.

As a leader in the textile machinery industry, SUNTECH Textile Machinery will continue to invest more resources and effort in research and development and innovation, driving the entire industry forward. SUNTECH Textile Machinery believes that through technological progress and the power of collaboration, the textile machinery industry will have a brighter future.