The Outlook for Growth in Asia-Pacific Textile Market seems Bullish Led by Higher Economic Growth and Rise in Per Capita Income

The Asia-Pacific textile market is estimated to witness a significant CAGR during the forecast period (2020-2026). Higher economic growth and a rise in per capita income will lead to the growth in the textile market in Asia-Pacific. Asian countries have over the years strengthened the region’s dominance in the textiles trade at the expense of reduced share of western nations across all categories. The key driver of this shift is the lower cost of production in Asian countries. T&A exports from African countries have also grown in recent years, however, it is low in value terms.

Browse the full report Description Asia-Pacific Textile Market Size, Share & Trends Analysis Report by Material (Cotton, Jute, Silk, Synthetic, Wool, and Others), by Application (Fashion and Clothing, Industrial/Technical, and Household) Forecast Period (2020-2026) at https://www.omrglobal.com/industry-reports/asia-pacific-textile-market 

The growth in the disposable income of the middle and lower-middle-class sections of the society has led to the continuous growth of demand for textiles in developing countries such as China and India. India is a cost-competitive manufacturing base for all types of products across the textile value chain. The lending rates in India are on the higher side as compared to China and Vietnam; however, with special government support available for the sector, the effective cost of capital becomes comparable. Buyers are focusing on India as next to China, as it possesses a large local market, political stability, and better compliance. Labor cost in Asia is also much cheaper than in other regions and playing an imperative role in the increased growth of the textile industry in the region.

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- by Material and Application
• Countries Covered- China, India, Japan, ASEAN, South Korea and Rest of Asia-Pacific
• Competitive Landscape- HuaFang Group, Jiangsu Hengli Chemical Fiber Co., Ltd., Raymond Group, Ruby Mills Ltd., Shandong Demian Incorporated Company, Shandong Ruyi Technology Group Co., Shenzhou International Group Holdings Ltd., and Toray Industries, Inc.,

Key questions addressed by the report

• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Asia-Pacific Textile Market Report Segment

By Material

• Cotton
• Jute
• Silk
• Synthetic
• Wool
• Others

By Application

• Fashion and Clothing
• Industrial/Technical
• Household

Asia-Pacific Textile Market Report Segment

• China
• Japan
• India
• ASEAN
• South Korea
• Rest of Asia-Pacific