The global textile market is expected to reach approximately 1,237 billion dollars by 2025, driven by population growth in emerging economies including China, India and Mexico.
Product innovation is also expected to have a positive impact on the industry while a growing number of fashion retail outlets and supermarkets in developing economies, including China and India, is expected to increase the textiles demand in the near future.
The Middle East and Africa is expected to witness volume growth at a CAGR of 3.6 per cent from a period of 2016 to 2025. The rising expenditure by Islamic clothing manufacturers to incorporate new hijab styles in apparel is projected to increase the product use over the next nine years.
There is an increasing importance of Environmental Health and Safety systems in the manufacturing sector, owing to stringent regulations aimed at worker safety and reporting incidents in offshore industries, including oil and gas, which is expected to increase the demand for personal protective equipment (PPE). This trend is projected to play a vital role in increasing the market penetration of textiles in the form of technical fabrics in PPE over the forecast period.
Polyester is expected to witness growth over the forecast period due to its superior properties including lightweight and excellent resistance to shrinking.