Technological advancements in Clothing Fibers is a significant factor influencing growth of the global market.
Market Size – USD 190.68 Billion in 2019, Market Growth – at a CAGR of 3.3%, Market Trends –Increasing demand for more efficient and advanced sportswear
The global Clothing Fibers Market is forecast to reach a market size of USD 248.18 Billion by 2027, and register a steady revenue growth rate over the next seven years, according to the latest report by Reports and Data. Growing demand for Clothing Fibers can be attributed to technological advancements in Clothing Fibers. As an instance, CREOL, the College of Optics & Photonics- the University of Central Florida, has developed a user-operated color-changing clothing fabric with the ability to change its color via a smartphone. The fibers in the fabric possess a thin metal micro-wire, which is used to conduct electricity that stimulates temperature-sensitive pigments in fibers to change color in response to generated heat. Through a smartphone, wearers can regulate both the color of the fabric and the pattern that would appear in the fabric.
Increasing demand for sportswear is a significant factor driving the Clothing Fibers market growth. Clothing Fibers in sportswear are essential to the desired texture, functionality, finish, and comfort of the sportswear. Each kind of sport requires specific functionality, such as stretching, heat retention, heat resistance, water-proofing, vapor permeability, and low fluid resistance, which are delivered by different sportswear Clothing Fibers, including nylon, polyester, spandex, neoprene, fleece, and bamboo. The rising professional sports’ competition and growing inclination for active sports drive the Clothing Fibers market for sportswear.
The COVID-19 impact
Clothing Fibers market witnessed a setback amid the COVID-19 pandemic. The major impact experienced by physical stores was due to customers being afraid to enter retail spaces. Also, the imposition of lockdown restrictions, disruption of the supply chain, and unavailability of workforce. As the situation improves gradually however, demand and supply gaps are expected to be bridged, and regular operations are expected to be resumed.
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Key market participants include Toray Industries Inc., Asahi Kasei Corporation, Eastman Chemical Company, BASF SE, Bombay Dyeing and Manufacturing Co. Ltd., Teijin Ltd., DuPont, Propex Operating Company LLC, Mitsubishi Chemical Holdings Company, and Reliance Industries Ltd.
Further key findings from the report suggest
- By product type, cotton segment revenue contributed to the second-largest market size of global Clothing Fibers in 2019. Cotton provides the benefits of easy washing and is one of the preferable Clothing Fibers during summer. Also, as cotton is a natural fiber, is does not have any negative impact on the environment.
- By end-use, women’s wear segment contributed to the largest market size of global Clothing Fibers market in 2019. A rise in the level of disposable income, especially in the developing countries of the Asia Pacific, is driving demand for Clothing Fibers for women’s wear. Also, an increase in the number of working women globally and the growth of the fashion industry are causative of the growing demand for women’s wear.
- The Clothing Fibers market growth in North America is owing to growing influence of social media, celebrity endorsements, and fashion magazines on people, especially the youth. Also, the high purchasing power parity of people, especially, in the US and Canada, are driving the demand for luxury apparel, thus fueling the market growth.
To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/clothing-fibers-market
For the purpose of this report, Reports and Data has segmented the global Clothing Fibers market on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Women’s Wear
- Men’s Wear
- Kid’s Wear
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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