Textile Industry: Global Scenario in 2024
Welcome in the Blog Post of ‘Textile Industry: Global Scenario in 2024’. In this blog post we are going to explore Industry, Global Scenario, Industry major global player countries, Areas of weakness, Problems and challenges, Governmental Initiative, Future Trends, Impact of technology on Industry.
Why Textile is important
The British industrial revolution brought a significant shift in the textile industry around the world. The British introduced technology to their colonies they had controlled like India. In this era developed nation’s sources new technology while developing nations shifted to becoming manufacturing hubs because of the availability of skilled labor. India is one of them.
The textile industry employs the most people worldwide. This industry is second only to agriculture, and the majority of its workers are female worldwide. The outcome of competition in this industry depends on the strengths and weaknesses of each country’s production process, from raw materials to finished goods.
Global Textile Scenario
Look at the major trading nations in this Global scenario. China holds 40% of the global population, followed by India (5%), Italy (5%), Germany (5%), Bangladesh (4%), Turkey (4%), the United States (3%), Vietnam (3%), and others (32%).
The global textile business landscape today varies depending on the developed and developing nations that produce textiles. Due to an industry revolution in this sector, the majority of apparel manufacturers in developing nations worldwide rely on undeveloped countries to cut and sew together to make pieces of fabric.
Today developed countries like America, manufacturing is largely automated. Due to the fact that the apparel industry has largely relocated to nations which have lower labor costs. Outsource countries must be extremely labor-efficient in order to effectively compete with foreign manufacturers competitor.
China seized the chance to rise to the top with a 35% global share, while India came in second with a 5% share and earned a spot among the top 10 economies in the world, which are the United States of America, China, Japan, Germany, France, United Kingdom, Italy, and India. Readers! Please note the fact that China contributes 35% and India produces 5%, there is large gap between first and second.
USA, United Arab Emirates, China, United Kingdom, Bangladesh, Germany, France, Spain, Italy, Turkey, and Mexico make up a significant portion of the global market for textile products. This market is largely concentrated in the EU-27, the USA, China, and Japan. The following markets, with a combined market share of roughly 18%, are Brazil, India, Russia, Canada, and Australia. Switzerland, China, and Japan have also developed new technologies. The most profitable global export is coming from Germany.
As retail markets for clothing, nations like China, India, Russia, and Brazil are emerging. It is said that 540 US billion in sales in 2025, the Chinese market will still dominate the entire world market. Thailand, Malaysia, Singapore, Indonesia, and the Philippines are currently Asia’s major powerhouses in this industry. The Philippines is now a high-middle income nation.
Textile Industry major global player countries
Let’s examine major global player separately.
China made Textile
China, which has a large spinning capacity, comes in second with a share of 24%. China has gained this position in global trade by utilizing its extensive human resource base, affordable manufacturing, and extensive infrastructure, which has led to extensive investment across all sectors. China country is the world’s top producer of silk and synthetic fibers. The apparel and garment industries produce the most garments. Industry in China is currently struggling with a number of issues, including an overreliance on natural resources, a lack of technology and value added an unbalanced trade structure, and a concentration on export markets. The overall costs of textile businesses in China have dramatically increased in recent years due to the rising costs of land, energy, and labor. When China discontinues its textile industry, other emerging or developing nations have the chance to enter the world textile market.
The other major players in this business game, after China, are Bangladesh, Vietnam, India, Cambodia, Germany, Burma, Pakistan, Shri lanka, Zambia, Mauritius, Madagascar, Hong Kong, Korea, Taiwan, Honduras & El Salvador (Central American Country), and Macau which are recognize for low-cost labor.
Bangladesh Textile
Bangladesh’s power situation are due to its the world’s second-largest producer of jute, 6.5 million ring spinals and rotors for yarn, 13500 shuttle looms converted from -18500 shuttles in weaving. Bangladesh holds more than 70% share of the global garment export market, which makes Bangladesh a competitive manufacturer of apparel. In comparison to India, the cost of power in blow is high. Bangladesh and Vietnam both have very little domestic cotton production, so they both depend on cotton imports to meet their needs in the textile and apparel industries.
Vietnam manufacured Textile
Vietnam changed after 1986. Vietnam primarily imports cotton while producing its own silk and Vietnam is on number three in export of rice in the world. Vietnamese has small percentage of spinning. Due to lower labor costs, shuttle looms have increased by 3000, and garment production has increased. China now uses Vietnam as a new transit country for investments in labor-intensive businesses. This disadvantage is due to; it is only 10% the size of China and is the poorest and most corrupt nation. In the event of a trade war, Honoi, the capital of Vietnam, will serve as a new hub alternative for Chinese manufacturing. However, Vietnamese people are generally hostile to China. China tries to move its business communities to communist nations Compared to India; Vietnam has lower electricity costs and a steady supply. Vietnam is now the second-largest supplier of apparel and textiles to the US market, surpassing India, but there is still much to be done for the domestic market.
Myanmar Textile
The US has already announced that the embargo on Myanmar shipments will be lifted, and the country’s exports are likely to soar. As many as 300 textile factories were shut down and many people lost their jobs when the ban was announced. In accordance with its Generalized Scheme of Preferences policy, the European Union is also planning to grant duty-free access to Burmese goods.
India Textile
Let’s look at where India stands right now in this scenario.
With a 26.5% share of global cotton production, India is the largest cotton producer. India also ranks first in the production of jute, second in the production of silk, and tenth in the production of wool. India produces 70% of its textiles on power looms. We are still on back foot because of one of the biggest drawbacks for us that we can’t export the fabric well in volume. India is losing the opportunity to value addition to low-value weaving. Space left by China has been steadily taken over by Bangladesh, Vietnam, Cambodia, and now Burma.
Cambodia Textile
Cambodia is a country that joined the WTO in 2004 and can be a significant player in the global textiles industry.
Areas of weakness of Textile
Before identifying the areas of weakness, let’s investigate the global opportunities in this industry. The annual retail sales of the world’s apparel industry are currently $1.34 trillion. The world’s textile and apparel industries are drastically switching from cotton to synthetic. There are several causes for this trend. Low cost, a cotton supply-demand imbalance, versatile design, and application are a few of the causes.
Problems and challenges in Textile Industry
Problems and challenges in this business facing worldwide are lack of modernized machinery and equipment, a lack of research and development (R&D), the global recession, the high cost of doing business, the electricity crisis, the gas shortage, industrial safety and a poor supply chain are all issues that this industry faces globally. Sustainable development is more crucial. Critical areas include water, energy, chemicals, and waste. Old business modules should be scrapped due to the need for increased manufacturing, supply chain, resources, design, production, retail, and consumption. There are also social concerns regarding labor, health & safety, and community issues.
Governmental Initiative in Textile
The future of this global industry is largely dependent on FDI inflow from stable governments and policies that make doing business easy in each individual country. Spinning, weaving, value addition, and innovations in the textile industry all increase revenue.
Future Trends in Textile
Today Fabrics made of synthetics have a lot of potential. Be prepared for business because mulberry leaves transform into silk gowns. Today, 80 billion new garments are purchased worldwide each year like women’s clothing, western clothing, active wear, sportswear, and home furnishings. Industry is improving apparel and cosmetics. It’s interesting to consider the Opportunities in Future Trends around the world, which include Western, Active, Sports, and Home Textile & Furnishing, among others.
Technical Textiles
Technical textiles have many uses in many different industries, including agriculture, automobiles, packaging, and very important medical textiles. As a result, they will play a significant role in the years to come. The sector of the textile industry that focuses on technical textiles is the one that is expanding the fastest and showing the most promise.
Anti-microbial Fabric
To prevent microbes like bacteria, fungi, and viruses from growing within its fibers, antimicrobial fabric is fabric that has been treated with or infused with one or more of a variety of substances.
Teflon Fabric
Teflon fabric protector is an imperceptible barrier that deters water, liquids, and soil from suitable outdoor apparel, accessories, or equipment.
Smart Textiles
Growing in popularity are smart wearable textiles, which serve as censors. Smart textiles are increasingly being used in the sports and fitness industry today to help the textile market grow.
E-textiles
E-textiles, also known as electronic textiles, are fabrics that can incorporate electronics and digital components like batteries, lights, and small computers. They are frequently confused with smart textiles.
As per Aesthetic and performance these can be divided into two groups.
Metallic Textiles
Metallic textiles are manufactured from fibers contains metal.
Composites Textiles
And second one there is Composites. In terms of technology, a composite is a structure made up of two or more components.
Business Based on Waste Textile Materials
Today, the average American produces 82 pounds of waste annually. That amounts to over 11 million tons of waste produced solely in the United States.
Old clothing can be processed for use as yarn and reused to create new fabrics that can be exported to developing or African nations.
Impact of technology on Textile
Information Technology
IoT is a game-changing thing that also applies to this industry. You decide whether these technologies such as robotics and automation are disruptive or advantageous.
IoT is entering the manufacturing sector to reduce human interference.
For quality inspection or innovative design and reliability improvement, artificial intelligence is a major challenge.
A data base run by machines serves as the digital technology factory.
Plasma technology
Once applied to fabric, plasma technology provides the necessary functionality while using 70% fewer chemicals. With this technology 90% less water is used, 80% less energy is used, and almost no toxic waste is discharged.
Nanotechnology
Nanotechnology includes features like water resistance, UV absorption, and self-cleaning finishes. This transition from traditional printing to digital 3-D printing and widespread industrialization are currently occurring in China. For other Asian nations, this could completely alter the situation worldwide.
Conclusion
Textiles are that elegance is when both the inside and the outside are exquisite because when you wear a silk scarf, a ‘Beautiful’ a phrase we frequently heard. Entrepreneurs do not overlook the opportunities and let’s begin to enter the glorious journey of the world’s textile business. Keep Reading! Thank You.
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