Booming Textile and Apparel Industry to Increase the Sales of Textile Machinery
18 January, 2023
The global textile machinery market is estimated to garner US$ 52 billion by 2033, advancing at 6.1% CAGR from 2023 to 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Textile machinery is used to convert raw fibers into textiles through knitting, weaving, crocheting, felting, tatting, braiding, and bonding. It includes anything from quilting machines and lace making to textile finishing and spinning machinery used in wool mills, cotton mills, and garment factories to make various garments. Numerous manufacturers are currently using automated textile machinery to improve product consistency, save manual labor, and design seamless dresses and garments with detailed embroidery.
Substantial development in the apparel industry, combined with an ample supply of raw materials such as jute and cotton, are primary factors bolstering the market growth.
Read More : Textile exports jump over 25pc to $14.3bn
Furthermore, the developing fast-fashion trend is driving up demand for textile machinery used to create modern clothing with unique fabrics, patterns, designs, colors, and styles. This can also be ascribed to the growing popularity of high-end apparel as a result of increased urbanization, rising disposable incomes, and the growing impact of social media.Aside from that, the increasing demand for textile recycling owing to increasing environmental concerns and growing awareness among individuals about the negative impact of waste incineration are driving market expansion.
Prominent players are introducing medical textile machines that offer modular and configurable assistance to satisfy the needs of customers. This, together with the rising incidence of chronic diseases and the growing use of medical textiles for first aid, surgical, clinical, and hygienic purposes, is expected to drive market expansion.
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Source: world.einnews.com