Textile Machinery Market Size Forecast to Reach $33.2 Billion by 2026

Textile Machinery Market Size Forecast to Reach $33.2 Billion by 2026
Textile Machinery Market
Increased Clothing Consumption and Worldwide Trading in Textiles and Clothing, Expanding the Market for the Textile Machinery Industry.

The Global Textile Machinery Market size is forecast to reach $33.2 billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The growth of Textile Machinery market is attributed to the factors such as growing automation process, various government policies and regulations, rising textile industry and others. Moreover, technological advancements such as nano-technology inventions, digital printing technology, biotechnology, ultrasonic wet processing technology and plasma technology boosts the market growth. New machinery for various operations such as printing, dyeing, bleaching, and mercerizing have been introduced. Textile producers are investing in the purchase of textile machinery due to the latest textile finishing technology, which is utilized to increase fabric quality. Nanotechnology in clothing saves energy and resources while producing more scientific clothes with features like water repellency, fire resistance, and self-cleaning. Another recent textile industry breakthrough is the use of laser printing, which gives clothing a consistent appearance. Digital printing is chosen for complicated and multilayer printing, whereas 3D printing is used to manufacture creative clothing. As a result, in order to apply such cutting-edge technology and advances to textiles, there is a growing need for the most up-to-date textile machinery, which drives the textile machinery market. Furthermore, rising demand for non-woven fabrics which require specialized texturing and finishing machinery during production further drive forward the Textile Machinery market in the long run. 

Textile Machinery market Segment Analysis – By Raw Materials

The polyester segment is anticipated to witness significant market growth with CAGR 8.5% during the forecast period 2021-2026. Polyester fiber has become the fiber of choice within the textile industry, because of its physical properties, recyclability, versatility and price, which offers a unique set of advantages unmatched by other fibers. According to A New Textiles Economy Report 2019, polyester accounts for roughly half of the overall fiber market and around 80% of synthetics fiber. Polyester is employed to make apparel, home furnishings, industrial textiles, computer and recording tapes, and electrical insulation, among other things. Polyester offers a number of benefits over conventional materials like cotton. Polyester is ideal for the application of water, dirt, and fire-resistant finishes as it does not absorb moisture but does absorb oil. It is inherently stain-resistant because of its poor absorbency. Polyester clothing may be preshrunk during the finishing process, and it will not shrink or stretch out of shape after that. The cloth is mildew resistant and easily dyeable. As textured polyester fibres are good insulators and are nonallergenic, they’re used to fill cushions, quilts, coats, sleeping bags and other items. All such factors together are set to boost the market growth during the forecast period.

Textile Machinery market Segment Analysis – By End User Type

Garments sector held the highest market share in 2020 and is projected to grow with CAGR of 7.2% during the forecast period 2021-2026. Skin sensory comfort and thermo-physiological comfort have arisen as key trends in the clothing business, and corporations are investing in the creation of goods that can suit these expanding requirements. Apart from that, skin-sensitive materials have become a big trend in the apparel business, with firms creating items to match this broadening demand. For instance, Eurojersey released Sensitive Fabrics T-shirts using regenerated Reco Nylon in cooperation with WWF Italy in 2019. Growing need for skin-sensitive textiles would drive up demand for cotton, which is the safest fiber into which Textile Machinery can be integrated thereby boosting the market’s development. Digital printing, embroidery, traditional stitching, embellishment attachment, heat transfer, and laser decorating have all benefited from technological advances in textile machines for direct clothes. In addition, growth in electronic textile decorating needs has taken place outside of the realm of esthetics, with the goal of increasing the utility of the wearer. The textile machinery market will thus benefit from increased demand for textiles and clothing, as well as a growing population and middle-class families.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=18657

Report Price: $ 4500 (Single User License)

Textile Machinery market Segment Analysis – By Geography 

APAC region held the highest market share in 2020 with market share of around 74%. The region is likely to retain its dominance over the projection period as well. Furthermore, in terms of countries, China and India, as well as emerging markets including South Korea and Japan, are among the leading contributors to market revenues. Changing buying patterns, rising population, disposable incomes, rising demand for apparel and home furnishings, lower production costs, and inexpensive labour are the primary drivers of the textile industry’s expansion, which in turn promotes the market growth for textile machinery in this region. Moreover, market growth is also due to rising automation, digitization and innovation in products and processes. Additionally, a country such as Japan is home to over 45 textile machine behemoths such as Fukuhara, Murata, Toyota, and Seiki. The technology of Japanese textile machines is frequently utilised in European markets. Currently, Japan is supporting the growth of the textile machine sector through rationalization and trade promotion. The greatest strengths of this country are technological soundness and cheap pricing. Japan’s textile machine sector, like its textile industry, is fast developing. Machineries and equipment made in Japan account for 80% of sales in the domestic textile machine sector. As a result, the expanding textile sector has boosted the possibility to employ numerous new textile machines to boost output, which drives market expansion. 

Textile Machinery Market Drivers

Growing textile industry is expected to drive the textile machinery market

Rising textile and garment demand in emerging nations and a gradual economic recovery in key developed economies, the global textile and clothing sector will continue to rise. New consumption hubs for clothes and home textiles are emerging as the industry evolves. Furthermore, the rising textile and clothing industry is likely to boost demand for textile machinery. According to United Nations Comtrade data base, global textile and apparel trade rise at a rate of 6.3% from $770 billion in 2013 to $1,180 billion by 2020. With a share of 58 % in 2016, apparel was the most traded category. Textile machinery shipments have increased in tandem with increased clothing consumption and worldwide trading in textiles and clothing, expanding the market for the textile machinery industry.

Increasing use of plasma treatment to enhance textiles & fabric performance

Many industries, including healthcare, military, sport, and leisure, are projected to profit from plasma treatment of textiles to improve performance. Plasma textile modification saves a lot of chemicals, water, and electricity as this plasma process doesn’t generate a lot of waste or hazardous by-products. Plasma treatment is extensively utilized in the textile sector as it is an ecologically favourable method that can be used to functionalize the surface of textiles and fabric without affecting the bulk qualities of the material, which drives the textile machinery market.

Textile Machinery Market Challenges

Increasing demand for secondhand textile machinery is expected to hinder the textile machinery market growth 

The used textile machinery sector is gaining appeal across the world owing to the persistent recession. Several textile businesses prefer to acquire used machinery to replace their obsolete machinery as it is less expensive than new machinery. Budget restrictions and looming uncertainties in the textiles industry do not lend themselves to large investments in acquiring new machinery supplied by suppliers. Furthermore, used machines may be made accessible rapidly, allowing businesses to remain competitive by making minor expenditures, resulting in increased demand for used machinery which is expected to hinder the textile machinery market growth.

Textile Machinery Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Textile Machinery market. As of 2019, the market for Textile Machinery market is consolidated with the top players including Oerlikon, Rieter, Picanol, Toyota Industries, American Textile Machinery Association, Batliboi, Benninger, Intertrad Group, Itema Group, Itema and among others.

Acquisitions/Technology Launches/Partnerships

In September 2019, Itema S.p.A. signed agreement to acquire Schoch group. The agreement signed with Schoch group represents a further significant step for the synergic development of key weaving machine’s accessories as well as a remarkable reinforcement of Schoch commercial network.

In April 2019, Itema Group launched the new Itema Technical Textiles Division – Itematech which will establish a new technological leadership in technical textiles weaving. 

Key Takeaways

Growing competition among textile producers along with increasing investment in textile production is paving a way towards the market growth for textile machinery market.

Increased implementation of Textile Machinery in the Garments/Apparels sector for enhancing skin sensory comfort and thermo-physiological comfort with rising investment towards development of products is expected to open up new opportunities for market growth.

APAC region is anticipated to dominate the global Textile Machinery market in the forecast period 2020-2025 owing to rising industrialization, economic development and others. The manufacturers in this region are strengthening indigenous R&D efforts and technological back-up which was almost nonexistent earlier.

Relevant Reports

A. Packaging Machinery Market

https://www.industryarc.com/Report/18675/packaging-machinery-market.html

B. Foundry Machinery Market 

https://www.industryarc.com/Report/18661/foundry-machinery-market.html

For more Automation and Instrumentation Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services. 

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/


Posted

in

by

Tags: