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CLOTHING FIBERS MARKET TO REACH USD 248.18 BILLION BY 2027

Published: October 14, 2022

Author: DIGITAL MEDIA EXECUTIVE

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.

Market Synopsis

The global Clothing Fibers market is projected to register a CAGR of 3.3%, and reach a market size of USD 248.18 Billion in 2027. Increasing investments by various apparel brands in smart clothing is currently driving growth of the global Clothing Fibers market to a significant extent. Smart clothing has been gaining rapid acceptance and demand, and traction is expected to continue well into the future.

Advancements in display technologies and ability to offer more compact and expressive modes and means of communication digitally, are among some of the major factors driving increasing popularity of new and emerging technologies and products in this market. For instance, CuteCircuit, which is a clothing company, produces clothes and accessories that are capable of displaying messages, chats and tweets. Additionally, researchers at Georgia Tech have developed energy-harvesting yarns that can be knit into washable fabrics. Energy-harvesting yarns function by taking advantage of static electricity and can be woven into jumpers, socks, and other clothing items so that it can harvest enough energy from the body motion to power a sensor that may charge a smartphone.

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.
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.

Major Companies: