Textile Industry. Cotton Fabric Manufacturing Business. Business Opportunities in Clothing Industry
Textile is a flexible material formed using different processes, such as knitting, weaving, felting, or crocheting. These materials are used in the manufacturing of a wide range of conventional, as well as advanced finished goods, in kitchen, upholstery, bedding, transportation, construction, protective, handbags, medical, apparel, ties & clothing accessories.
India Textile Industry is one of the leading textile industries in the world. The Indian textiles industry, currently estimated at around US$ 150 billion, is expected to reach US$ 250 billion by 2019. India’s textiles industry contributed seven per cent of the industry output (in value terms) of India in 2017-18.It contributed two per cent to the GDP of India and employs more than 45 million people in 2017-18.The sector contributed 15 per cent to the export earnings of India in 2017-18.
The Textile & garments industry in India is highly diversified with a wide range of segments ranging from products of traditional handloom, handicrafts, wool and silk products to the organized textile industry. The organized textile industry is characterized by the use of capital-intensive technology for mass production of textile products and includes spinning, weaving, processing, apparel, and garment.
Further, the domestic consumption of $ 97 bn was divided into household consumption at $ 83 bn and the technical textiles at $ 14 bn. While exports comprised of textile exports at $ 23 bn and apparel exports at $ 17 bn. India also meets the needs of 9% of the world’s total consumption of technical textiles.
Indian textile industry is one of the largest industries in India. It is the second largest industry in terms of providing employment opportunities to more than 35 million people in the country.
Textile and Apparel Industry in India (US$ Billion)
The textiles industry has made a major contribution to the national economy in terms of direct and indirect employment generation and net foreign exchange earnings. It provides direct employment to over 45 million people. The textiles sector is the second largest provider of employment after agriculture. Thus, growth and all round development of this industry has a direct bearing on the improvement of the India’s economy.
Projections for India in World Exports
The fundamental strength of the Indian textile industry is its strong production base with a wide range of fibers and yarns. These are natural fibers such as cotton, jute, silk, wool, and synthetic and man-made fibers like polyester, viscose, nylon, and acrylic. The textile industry is capital and technology-intensive comparable with automobiles, aircraft, computers, and heavy machinery industry. Buyer-driven value chains enhance trade-led industrialization, which has become common in labor-intensive, consumer-goods industries and consumer electronics.
Global Textile Industry
Global Textile market size will increase to 1237300 Million US$ by 2025, from 854200 Million US$ in 2018, at a CAGR of 4.7% during the forecast period. Population growth, rising disposable income levels, and rapid urbanization in developing countries like China, India, and Mexico are likely to boost the product demand.
Moreover, increasing number of supermarkets and retail outlets in these countries is expected to drive the demand further. Growing importance of Environment, Health and Safety (EHS) systems in manufacturing sector owing to stringent regulations aimed at safety of workers in offshore industries like oil & gas is projected to boost the demand for Personal Protective Equipment (PPE).
On the basis of application, the market includes household, technical and work wear, fashion and clothing, and others. The household segment is likely to dominate the global market, as this category utilizes all types of natural and synthetic fibers for making bed linen, quilts, pillows, curtains, etc.
Global Textile Market Share, By Application, 2018 (%)
Based on raw material, the textile market is segmented into cotton, wool, silk, and chemicals and synthetic. The cotton segment is expected to dominate the global market, as it is considered as the world’s most crucial fiber. Cotton is a natural fiber that grows on plants. Cotton is naturally absorbent, soft breathable, and especially sustainable, which makes it perfect for as a raw material in apparels, garments, and home textiles.
U.S. Textile Market Size, By Product, 2015-2025 (USD Billion)
Major players in the textile industry include Ahlstrom Corp, Alexium International, Andritz Perfojet SAS, Companhia Providência, Dow Automotive Systems.E.I, Johnson & Johnson, Kimberley Clark Corporation, Lenzing, Ontex, Polymer Group Inc, Precot, Meridian, Procter and Gamble, Southwest Nano Technologies Inc. (SweNT), The Hindustan Technical Fabrics Limited, and du Pont de Nemours & Co.