October 04, 2022 08:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Oct. 04, 2022 (GLOBE NEWSWIRE) -- 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.
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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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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.
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.
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Textile Staples Market by Category
3.1. Key Trends Impacting the Market
5. Global Textile Staples Market Demand Analysis 2012-2021 and Forecast, 2022-2032
5.1. Historical Market Volume (Tons) Analysis, 2012-2021
5.2. Current and Future Market Volume (Tons) Projections, 2022-2032
Explore wide-ranging Coverage of FMI’s Chemicals & Materials Market Insights Landscape:
Textile Auxiliaries Market: Global textile auxiliaries market to reach a value of US$ 9,992.4 Mn in 2022. Sales prospects of textile auxiliaries is expected to witness a steady growth rate of 5.2% and are expected to top a valuation of US$ 16,589.3 Mn by 2032.
Textile Colorant Market: Global textile colorant market to reach a value of US$ 6,850.0 Mn in 2022. Sales prospects of textile colorant is expected to witness healthy CAGR of magnitude 5.4% and are expected to top a valuation of US$ 11,590.4 Mn by 2032.
Technical Textiles Market: The technical textiles market will register positive growth with the overall valuation forecast to surpass US$ 183 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 4.60% between 2021 and 2031.
Textile Flooring Market: Global textile flooring market are anticipated to top US$ 301.52 Bn by 2029, expanding at a CAGR of 6.8% during the forecast period 2022-2029.
Textile Chemicals Market: The textile chemicals market will register a year-on-year (YoY) growth at 3% CAGR, surpassing a valuation of US$ 22,126.3 Mn in 2021. According to Future Market Insights, overall textile chemicals sales are set to rise at 5.40% CAGR during the forecast period of 2021 and 2031.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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