The global textile manufacturing market is poised to grow at a CAGR of 4.52 per cent or by by $346.05 billion from 2024-2028. As per a market research report by Technavio titled,‘Global Textile Manufacturing Market 2024-2028, most of this growth will be driven by the integration of automation in the textile manufacturing processes.
Automated machinery continues to enhance the quality and efficiency of textile production across various stages, including fiber and yarn manufacturing, weaving, and dyeing. As producers adopt modern technologies in order to boost productivity and quality, traditional methods like spinning and weaving are being supplemented with advanced techniques. Improved finishing processes are resulting in textiles with better durability and comfort.
Sustainability remains the key focus as manufacturers introduce new initiatives to reduce waste and enhance efficiency. Adoption of sustainable materials like polyesters, silks, wools, linens, rayons, acrylics, and nylons is on the rise currently.
Small and medium-sized enterprises (SMEs) are facing significant barriers due to the high initial costs of modern machinery. This financial hurdle impedes the adoption of advanced technologies, potentially stalling industry-wide progress and innovation. Industry leaders can mitigate this challenge by introducing more financing options and government incentives, and entering into new collaborations to support SMEs in acquiring sophisticated textile machinery, says the report.
Producers continue to grapple with increasing raw materials costs such as cotton and synthetic fibers. This issue is being further exacerbated by high production costs for traditional textiles like silk, wool, and linen, despite their strong demand.
The report states, there is an ongoing trend towards increasing adoption of automation and digitalisation which bodes well for the future of the textile manufacturing market. Driven by technological advancements and evolving consumer preferences, the textile market in India will continue to thrive, it adds
