Introduction
Clothing fibers are made from many materials, with four main sources: animal (wool, silk), plant (cotton, flax, jute, bamboo), mineral (asbestos, glass fibre), and synthetic (nylon, polyester, acrylic, rayon).
The rise in the adoption of synthetic fiber clothing on account of comfort and easy cleaning has positively influenced the clothing and apparel market growth across the globe. Moreover, the lightweight characteristics of these clothing have penetrated its utilization in making sportswear and activewear, which is further likely to support market growth. However, the volatility in the prices and availability of raw materials are likely to limit the markets growth.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The global clothing fiber market is expected to have incremental growth of $234.10 billion during 2020-2025
Growth momentum is expected to accelerate during the forecast period with a 4.00% CAGR.
Rising demand for functional fabrics for manufacturing high-performance sportswear and outdoor wear is expected to drive the market
APAC dominated the market due to the increasing demand for clothing and apparel products from the growing population in the region.
Key Trends
Rising demand for functional fabrics for manufacturing high-performance sportswear and outdoor wear is expected to drive the market over the forecast period.
Production of synthetic materials and a rise in the adoption of natural materials are expected to positively influence market growth.
Increasing investment on R&D to develop various technologies and processes to impart better technical and safety characteristics in their products is expected to propel the market growth over the forecast period.
Key Market Players
Some of the key players in the market are Toray Industries, Eastman Chemical Company, Teijin, Asahi Kasei Corporation, The Bombay Dyeing and Manufacturing, Reliance.
The key players are rigorously competing and offering custom solutions for high-performance low-cost products. Major players focus on mergers & acquisitions, expansion of their manufacturing facilities, infrastructural development, investments in R&D facilities, and are seeking opportunities to vertically integrate across the value chain.
Growth Drivers and Challenges
Increasing consumer demand for cost-effective, durable, and easy-to-wash & maintain fabrics is driving the market.
Rising investments by various apparel brands in smart clothing is currently driving the market growth.
The lightweight characteristics of these clothing have penetrated its utilization in making sportswear and activewear, which is further likely to support market growth
Fluctuations in raw material prices and fiber processing costs are hampering the market growth.
Stringent regulations on non-biodegradability of synthetic fiber is another factor restraining the product demand.