RECENT DEVELOPMENT IN HOME TEXTILES

Author (s) : E.Bharathi, B.Lavanya, R.B Nivedha

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Abstract :
The global home textiles market is one of the most profitable business segments in the global textile industry as it is witnessing a steady growth driven by factors like rising consumer spending on home renovation, fashion sensitivity towards household furnishing as well as growing real estate market among others. This feature captures what’s trending in the segment. The global home textiles market is estimated at $137 billion in 2022, growing at a CAGR of 3.8 per cent between 2016 and 2021. With an average growth of 3.5 per cent per annum it is projected to reach $152 billion in 2025. China and the US respectively account for approximately 29 per cent and 20 per cent share of this market, of which China is expected to grow at faster CAGR of close to 6 per cent between 2022 and 2025. China’s share in global textiles market is expected to rise from 25.4 per cent in 2016 to 31.6 per cent in 2025 while the share of the US is likely to decrease from 21.9 per cent to 19.5 per cent during the same period despite growing in value terms, according to Fibre2Fashion’s market insight tool TexPro. In terms of consumption, the US and Europe are the biggest consumers constituting around 60 per cent of the global home textile imports. On the supply side, countries like India, China and Pakistan stand as the key suppliers.

Keywords : Textiles, Finishing, Effectiveness, Durability, functional fabrics

Conference Date : 13/11/2020

Pages : 157

Paper ID : 20157