Textiles

Textiles occur as raw, semi-worked, worked, semi-manufactured, manufactured, and semi-made-up & made-up products. The typical concentration distribution for a product to qualify as a textile is a minimum of 80% textile fiber by weight in the entire product. Textiles are made from silk, nylon, rayon, polyester, wool, linen & cotton as well as inorganic fibers of metal, glass & asbestos. Textiles can be derived from natural or synthetic fiber sources and different fiber types can be blended to form application-based products with varying content. The value chain of textiles encompasses fibers, filaments, and yarns. Textiles can be further converted into fabrics for upholstery, curtains & blinds, shades, coverings, roofing materials, screens, apparel, backing materials for tires, and conveyor belts The textile market dynamics are influenced by the cost of manufacturing, regional competitiveness, and closeness to both source & end customers. These dynamics are also influenced by the quality, delivery speed, profit margins at each stage of the value chain, dynamic consumer buying patterns, technology value additions, and labor costs. The textile industry is also influenced by advanced material technology, robotics, artificial intelligence, and IoT to fulfill the demand for high-mix low-volume product offerings. At the same time, the industry is also moving toward sustainable practices, recycling, resale, reuse & rental trends.

Drivers:

• Smart fabrics & intelligent textiles entering new application areas
• Growing population and rapid urbanization in emerging economies
• New material development and product innovations such as fibers made from bamboo & orange trees
• Demand for lightweight & flexible materials in the automotive & transportation industries
• High replacement rates of belts in conveying systems
• Growing demand for online clothing and rental & reuse of textiles to prolong the lifecycle of textile commodities