31 January 2023, Mumbai
The global textile staples market as per different trade estimates is expected to grow at a CAGR of 5.5% from 2022 to 2032, driven by increasing demand from end-use industries such as apparel, general and leisure, sportswear, interior flooring, and other.
As per Future Market Insights (FMI) report," A Great Showing expected out of The Textile Staples Market expected to Clock Total Revenue of US$ 275.48 Bn by the year 2032".
The use of natural staple fibers, such as cotton, jute, and wool, is expected to increase due to the demand for eco-friendly textiles, while synthetic fibers, such as polyester, are being produced in a sustainable manner.
The apparel segment is expected to contribute 50% of total sales, while the interior flooring segment is expected to experience the fastest growth. Asia Pacific excluding Japan is expected to be the leading region.
The growth of the market is also driven by increased investment in the textile sector and rising demand for sustainable textile materials. Prominent manufacturers are expanding their presence globally by setting up manufacturing units in emerging economies.
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