The textile industry is an immense global market that affects every country in the world either directly or indirectly. For example, the people selling cotton increased prices in the late 2000s due to crop issues, but then ran out of cotton as it was being sold so quickly. The price increase and the scarcity was reflected in the consumer prices of products that contained cotton, leading to lower sales. This is a prime example of how each player in the industry can affect others. Interestingly enough, trends and growth follow this rule as well.
There are a few trends that seem to be the new direction for most of the textile market.
I) Technological advancements - This is a large and fast growing market in the current scenario. The companies are investing money in research and development and are wanting to work on new innovations in the market like 3D printing apparel and footwear and also smart fabrics with nano chips acting as energy converters.
II) Non-Woven Fabrics - The innovation and advancements in technology have led to more machinery that produces non woven and non knitted textiles by pressing the fibres together. These fabrics are easier and faster to produce with minimal labor being required for the same. Non-woven fabrics are also very hygienic, which is great for the medical field, a large part of the textile industry.
III) Domestic Intent - Various countries which were dependent internationally for there textiles have started producing domestically. Countries like US and China.
IV) Sustainability - With the world becoming more aware about the depleting environmental conditions has led many countries on taking the sustainable path and working towards green factories and moreover green textiles.
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