In terms of value, the global market size of the textile staples market is expected to expand from nearly US$ 125 Bn in 2017 to over US$ 200 Bn by 2027, registering a CAGR of 4.9% during the forecast period 2017 – 2027. The global textile staples market is expected to create total incremental opportunity of nearly US$ 82 Bn between 2017 and 2027. Several factors are responsible for this significant market growth.
Growth in the automotive and transportation sector in APEJ region bodes well for the textile staples market
Textile components are widely used in transportation vehicles and systems including cars, trains, buses, airplanes and marine vehicles. The automotive sector is witnessing rapid development in China along with parts of Southeast Asia. In a fluctuating economic environment, the Chinese automotive industry has registered steady sales growth. Also, India’s economy is expected to grow at a robust pace in the coming years as most economic indicators predict a positive outlook towards the automotive industry, driven by strong consumer demand. This in turn will have a positive effect on the textile staples market during the forecast period.
Growth in per capita spending in the APEJ region boosts the global textile staples market
APEJ has been regarded as a source region of exports, as China and other developing countries such as India are significant producers of textile staples. However, the region is slowly becoming an important consumer as well, because of consistent growth in incomes driving demand for textile staples. In recent years, there has been a rapid increase in household cotton consumption in developing regions than in other parts of the world. The increased penetration of organised retail is also likely to boost the consumption of textiles in the domestic markets, especially in India.
Cyclical pattern of textile staples market may limit the growth of this market
The historical market scenario of the textile staples market reflects the cyclical pattern of the industry including natural as well as synthetic fibre with periodic overcapacity and resulting pressure on pricing. This cyclical nature arises, in part, from investments made at the top of the cycle for cashing high margins with available funds, thereby shifting the balance of supply to demand as new capacity comes on-stream in large quantities. In the absence of sufficient economic growth to generate increased demand, or the closure of facilities to mitigate the effect, new capacity causes a period of regional or global overcapacity often leading to downward pressure on margins. It is anticipated that this cyclical pattern may hamper the growth of the market at a global level during the forecast period.
Global Textile Staples Absolute $ Opportunity Analysis by Application
Apparel is expected to create a total incremental opportunity of nearly US$ 30.5 Bn between 2017 and 2027. The segment is anticipated to register a CAGR of 3.6% over the forecast period. Interior Flooring is expected to create a total incremental opportunity of nearly US$ 7 Bn between 2017 and 2027. The segment is anticipated to reach a market value of nearly US$ 18 Bn by 2027 end, at a CAGR of 4.6% over the forecast period. Automotive is expected to create a total incremental opportunity of nearly US$ 15 Bn between 2017 and 2027. The segment is anticipated to witness a CAGR of 7.5% over the forecast period.
APEJ is emerging as a significant player in the synthetic fibre segment driven by the growing demand for technical textiles
The APEJ region is emerging as a significant player within the technical textiles market. The U.S. is a significant consumer of technical textiles, followed by Western Europe and Japan. However, the technical textile industry in developed countries such as United States and Japan is maturing in a significant way. The fast-paced economic growth leading to infrastructure development as well as higher disposable incomes have made India a key market for technical textile products. Moreover, the country has established a foothold in the production of technical textiles owing to its skilled and technical manpower as well as abundant availability of raw materials.
Cotton staple will remain the dominant segment in the textile staples market
The cotton staple will remain dominant among other natural fibre counterparts as rising middle class in developing countries has a special preference towards cotton. In developed regions, consumers concerned about the environment are also preferring natural fibres. The demand for synthetic textile staples, led by polyester, will be driven by technology advancement as functional aspects can be easily incorporated in them for technical applications.
Future Market Insights presents a comprehensive and insightful report on the global textile staples market titled ‘Textile Staples Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The report begins with an elaborate executive summary which has the important market numbers related to the global textile staples market such as the market value and the most attractive segments and regions in this market. The executive summary also gives a concise list of drivers, restraints, opportunities and trends in the global textile staples market which are dealt in detail in another exclusive section of this report. The executive summary also has a list of prominent players operating in the global textile staples market.
In the executive summary, there is also a concise and yet informative Future Market Insights analysis on the overall market approach of the leading players operating in the global textile staples market and information is also given on the target applications and the target regions that are most lucrative in this market. The differentiating strategies of leading market players is also highlighted in the executive summary. At the end of the executive summary, there is a diagrammatic representation of the various stages of the global textile staples market such as the introduction stage, growth stage, maturity stage and stagnancy stage. After the executive summary, there is a section on the market introduction that gives the market definitions of the textile staples market based on its various applications. After this section, a detailed market taxonomy of the global textile staples market is given.
By Fibre Type
A section of the report focusses on the overview of the textile staples market. This is in the form of global natural fibre textile staples market share (volume) by type, global synthetic fibre textile staples market share (volume) by type, global textile staples market share (volume) by application and by region for the year 2016. Another section of the report focusses on the market viewpoint of the textile staples market. This includes a detailed explanation of the macro economic factors affecting the global textile staples market. In addition, opportunity analysis for the textile staples market has also been presented in this section of the report. The viewpoints of various important industry experts pertaining to the global textile staples market have also been included. Subsequent sections of the report contain information about the regional market analysis (2012-2016) and forecast (2017-2027) of the textile staples market. These sections contain a detailed description of the regional drivers, restraints and trends applicable in the various regional textile staples markets. This is an important subsection of the report as it contains a detailed explanation about the factors that encourage the growth of this market as well as the factors that hamper the growth of this market. Besides this, weightage of impact of the forecast factors is also given in this subsection.
The other subsections of this report contain important market information pertaining to the textile staples market size (US$ Mn) forecast by country, by application, by natural fibre and by synthetic fibre. Market attractiveness index for each of the segments is also given. At the end of these sub sections of the report, a list of regional textile staples market participants is also given. Also, key regulations for each of the regions and countries within that region are also included in these sections of the report. Besides this, the pricing analysis for natural fibres and synthetic fibres for each of the regions is mentioned.
An entire section of the report is devoted to the competition landscape of the global textile staples market. This competition landscape gives a dashboard view of the key companies operating in the global textile staples market along with their important information and broad strategy adopted to stay as leaders in the global textile staples market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. A SWOT analysis of each leading market player is also presented which gives detailed information about the strengths, weakness, opportunities and threats that the company is dealing with. This competition landscape is the most important section of the report as it imparts a deep understanding of the top companies operating in the global textile staples market and is valuable for new entrants in the field to get a learning about how the companies are leading this lucrative market and also for established market players in order to get a better understanding about their competitors.
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies operating in the global textile staples market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global textile staples market.