Textile Staples Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1993
Textile Staples Market size is expected to witness a significant growth due to growing application in apparel, interior flooring, upholstery, filtration, medical and construction industry. Increasing demand of these materials for special applications that includes construction and automotive has fuelled its consumption.
Growing concern about worker’s safety in various industries owing to rising accidents and deaths will positively impact textile staples market growth. These are used for manufacturing personal protective clothing for industries and their employment has augmented with stringent government regulations and expected to propel textile staples market.
Rising disposable income has enhanced purchasing power of consumers that in turn has increased demand for apparels. Recent trends including interior flooring in construction and fabric use in crafting furniture are on the rise. Manufacturing of niche technical products have amplified as compared to generic fabric.
Staples are fibres of discrete length and its composition may vary. Major restriction for textile staples market is cyclic pattern in natural and synthetic fibre due to periodic overcapacity and pressure on pricing. The cyclical nature arises from investments made at top of cycle to incur high margins with available funds that shifts the balance of supply and demand as new capacity leads to availability in massive quantities.
Further, absence of adequate economic growth to generate high demand, or closure of facilities to mitigate its effect, new capacity causes period of global or regional overcapacity leading to downward pressure on margins. This cyclical pattern may hamper textile staples market growth during forecast period.
The product is available in natural and synthetic forms. Natural form includes cotton, wool and cellulose. Synthetic forms include polyester, rayon, nylon, acrylic and polypropylene. Cotton has major share with its application in apparels as these are preferred by most of the consumers. Demand for synthetic textile staples market especially, polyester is increasing due to its high tenacity and durability. It has great hydrophobic property that leads to its wide usage in coating fabric with water resistant finish. Recent technological advancement has augmented their use for medical purposes such as synthetic artery replacement.
Textile staples market is used in various industries including, automotive, apparel (general, leisure and sportswear), interior flooring, upholstery, filtration, medical and construction. Apparel has major share as these are bare necessity of common people. Factors such as volatile fashion trends and short product life cycle have strengthened apparel segment. Its use in interior decoration has enhanced with rise in living standard and demand for well-furnished homes.
Medical industry has shown rapid growth in textile staples market with its use in wound care and preventing chronic wounds due to properties such as biocompatibility, flexibility and strength. Automotive and transport sector have robust demand with its utilization in light to heavy vehicles for seat covers, roof, carpet and door liners.
Asia Pacific has significant share in global textile staples market with well-established textile industry. Further, increased manufacturing of technical products with abundant supply of raw materials and skilled labour. North America led by the U.S. has substantial share with fast paced economic growth and infrastructure development. This region has flourishing construction industry with maximum urban population.
Europe, led by Germany has moderate share in textile staples market owing to well established and flourishing automobile industry hosting giants that includes Audi and Volkswagen. Middle East and Africa has nascent share and expected to increase with demand of protective clothing due to stringent government regulations for workers. In addition, improved living standard has fuelled the usage of apparels.
Textile staples market is moderately fragmented with the presence of many regional and international players in the industry. some of the key palyers are DuPont, Lenzing, International Fibres Group, Toray Group, Thai Acrylic Fibre, Teijin Frontier, Grasim Industries, Reliance Industries, Indorama Ventures, Chori Company W. Barnet and Synthesia.
Companies are adopting various strategies including, mergers and acquisitions to capture textile staples market. DuPont has undergone strategic alliance with Arvind industries to enhance their presence in India, Sri Lanka and Bangladesh.
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