Textile Industry Statistics and Trends
This years domestic mills shipments are quickly approaching $55 billion, showing a slow rise in the last four consecutive years. Apparel shipments are also approaching $16 billion, a gain in the double digits seen since the recession. With an expected steady growth rate between 3% and 5% in the next few years, this industry is far from being the lost cause it looked to be a few years ago. China is the number one producer and exporter of textiles. The following market sectors have made drastic impacts on this overall industry.
Textile Industry Sectors
Mills – This sector has seen a rise of 5% in production of rug and carpet shipments. Floor coverings alone are looking at an overall 8% rise due to a now growing housing market.
Automobiles – The auto industry is contributing to growth with a renewed demands for interior fabrics well over 20,000 tons of demand for upholstery, headlines, and door panels.
Clothing – They clothing industry alone has seen a 2%-3% rise with 6% alone with men’s outerwear.
Percentage of Market Segments
Majority of production and operations in the textile industry involve the production of yard and thread from wool and cotton as well as synthetic materials. Cotton price rose +5.7% on average in 2016 while producer prices have at best stagnated or decreased. This is broken down into the following list of majority market segments in this industry.
– Carpets and Rugs – 16%
– Nonwoven Fabrics – 15%
– Broadwoven Fabrics – 9%
– Yarn Products – 8%
Bangladesh Textile Industry
Textile exports from Bangladesh account for 80% of their overall earnings. Considered a key player in the worldwide marketplace, the Better Work and Standards Program is looking at a five year program to improve infrastructure, quality of life, and work in their area.
Largest Textile Mill Companies
The United States industry is concentrated among 50 large companies that account for over 60% of the industry revenue. The biggest companies in textile manufacturing are listed below.
– Guilford Mills (US)
– International Textile Group (US)
– Mohawk Industries (US)
– Unifi (US)
– WL Gore & Associates (US)
– Hyosung (South Korea)
– Toray Industries (Japan)
– Weiqiao Textile (China)
5 Trends in the Textile Industry
The following listing of 5 trends are being seen in the textile industry for this year and the next.
1. E-tailers increase customer service.
2. Brick and mortar stores offer expert staff.
3. Industry focused on comfort and fabric advancements.
4. Earth friendly options.
5. Manufacturing grows in smaller countries although strong presence continued in China and India.
Statistics of Textile Industry
The following infographic outlines industry related statistics with textiles. Three quarters of post consumer textile waste is diverted to landfills by charitable organizations that recycle. The organic cotton industry alone is looking at a 40% annual growth.
Although millions of people visit Brandon's blog each month, his path to success was not easy. Go here to read his incredible story, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors." If you want to send Brandon a quick message, then visit his contact page here.