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The global clothing fibers market size was USD 73 Billion in 2022 and is expected to reach USD 148.38 Billion in 2032

NEW YORK CITY, NEW YORK, USA, May 1, 2023 /EINPresswire.com/ -- The global clothing fibers market had a size of USD 73 billion in 2022, with a projected revenue CAGR of 8.2% during the forecast period, which would reach USD 148.38 billion by 2032. The market is being propelled by the explosive growth of the global fashion and apparel industry, as well as the increasing demand for clothing fibers in the textile sector. Rising consumer awareness about ethical fashion practices and environmentally friendly clothing is also contributing to the market's revenue growth.

The demand for garment fibers is being driven by increasing populations and changing lifestyles, particularly in developing countries like India and China. As consumers become more fashion-conscious and urbanized due to rising disposable income, they are looking for fashionable and comfortable clothing. The market's revenue growth is being driven by increasing demand for garment fibers that offer exceptional qualities like softness, toughness, and breathability.

The rising demand for sustainable fashion and ethical fashion practices is also fueling the use of natural and eco-friendly clothing fibers. Customers are choosing eco-friendly clothing made from organic, recycled, or natural fabrics as a result of growing consumer awareness of the negative environmental effects of fast fashion. The market's revenue growth is being driven by consumer preference for clothing materials like bamboo, hemp, organic cotton, and recycled polyester.

Clothing Fibers Market: Segmentation

The growth of the market can be attributed to the increasing demand for clothing fibers from the textile industry and the rapid expansion of the global fashion and apparel market. The market is also being driven by rising consumer awareness of ethical fashion practices and eco-friendly clothing.
The demand for garment fibers is increasing due to the growing population and changing lifestyles, particularly in developing countries such as India and China. Consumers are becoming more fashion-conscious and urbanized, leading to a rising demand for fashionable and comfortable clothing. The market's revenue growth is also being driven by the increasing demand for garment fibers that have exceptional properties, such as softness, toughness, and breathability.
The use of eco-friendly and natural clothing fibers is also increasing due to the rising demand for sustainable and ethical fashion practices. Consumers are opting for eco-friendly clothing made from organic, recycled, or natural fabrics due to rising awareness of the negative environmental impacts of fast fashion. The market's revenue growth is being driven by consumers' preference for clothing materials such as bamboo, hemp, organic cotton, and recycled polyester.
The report on the clothing fibers market covers the revenue forecast, company ranking, competitive landscape, growth factors, and trends. The market segments covered include type outlook, application outlook, and regional outlook. The base year for estimation is 2022, and the historical data covers 2020-2021. The forecast period for the report is 2022-2032, with quantitative units measured in USD billion.

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Clothing Fibers Market: Strategic Development

DuPont de Nemours, Inc. announced in 2021 that it had reached an agreement to acquire Laird Performance Materials, a prominent supplier of electromagnetic shielding and thermal management solutions. This acquisition will enable DuPont to broaden its product offerings in the high-growth electronics market. In 2020, Indorama Ventures Public Company Limited declared its agreement to purchase Huntsman Corporation's Integrated Oxides and Derivatives (IO&D) business for $2 billion. This acquisition will allow Indorama to enhance its product portfolio and expand its presence in the high-growth downstream markets. Additionally, in 2020, Toray Industries, Inc. disclosed that it had partnered with PTT Global Chemical Public Company Limited to design and market new carbon fiber products for use in the automotive and other sectors. The partnership will utilize Toray's expertise in carbon fiber technology and PTTGC's expertise in petrochemicals.

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Clothing Fibers Market: Competitive Landscape

The global clothing fibers market report features major companies operating in the market. These companies include DuPont de Nemours, Inc., a leading science and engineering company that provides innovative solutions in multiple industries. In 2021, DuPont announced the acquisition of Laird Performance Materials, a supplier of electromagnetic shielding and thermal management solutions, to expand its product offerings in the electronics market.
Indorama Ventures Public Company Limited, a global chemical producer, has also been included in the report. In 2020, Indorama signed an agreement to acquire Huntsman Corporation's Integrated Oxides and Derivatives business, which will strengthen its product portfolio and expand its presence in downstream markets.
Toray Industries, Inc., a Japanese multinational corporation specializing in materials science and chemistry, has also been featured in the report. Toray announced a strategic partnership with PTT Global Chemical Public Company Limited in 2020 to develop and commercialize new carbon fiber products for use in the automotive and other industries.
Other major companies featured in the report include Teijin Limited, a Japanese chemical company; Lenzing AG, an Austrian textile company; Reliance Industries Limited, an Indian conglomerate; Eastman Chemical Company, an American specialty materials company; Mitsubishi Chemical Holdings Corporation, a Japanese chemical company; Formosa Chemicals & Fibre Corporation, a Taiwanese chemical company; and Zhejiang Hengyi Group Co., Ltd., a Chinese petrochemical company.

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