The textile industry has been shifting from labour intensive manufacturing processes to automated production facilities. Automation has enabled textile manufacturing companies to enhance productivity and reduce production costs. According to a report by Boston Consulting Group (BCG) in 2015, 1.2 million industrial robots are expected to be deployed by 2025, thus indicating increased automation and robotics technology adoption.
THE BUSINESS RESEARCH COMPANY EXPECTS THE TEXTILE MANUFACTURING MARKET TO GROW TO NEARLY $2 TRILLION BY 2021
Asia Pacific was the largest region in the textile manufacturing market in 2017, accounting for more than half of the market share. This was mainly due to the presence of many fabrics, apparels manufacturing and home furnishings facilities in the region.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, advancements in wireless technologies and rising demand for connectivity is driving the demand for smart textiles. Smart textiles are fabrics capable of interacting with their environment. They can react to physical stimuli such as thermal, mechanical, electrical and chemical sources. Sensors, actuators and fabrics are the major components of smart textiles. The materials used in smart textiles include optical fibres, metals and conductive polymers. They are widely used in fashion, entertainment, medical, transportation, sports and fitness and military.
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Toray Industries Inc. was the largest player in the textile manufacturing market in 2017, with revenues of $8 billion in 2016. Toray’s growth strategy focuses on business expansion of its growing business fields of fibres, textiles, plastics and chemicals in emerging countries and regions.
The textiles manufacturing market comprises establishments that manufacture fibre, yarn, threads, carpets, rugs, linens and other textile products. This industry also comprise establishments engaged in processing fibre, yarn and fabric to produce finished products.
Textile Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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