Home Business 578 billion dollars, the size of the global textile market in 2022,...

578 billion dollars, the size of the global textile market in 2022, with a growth of 9%

Workers in the textile and textile industry confirmed that the sector is growing at around 6% annually despite high material prices and the loss of Russian and Ukrainian markets due to the war.

The global textile market is expected to grow 9% to $578 billion quest’year.

This is despite the challenges faced by the sector posed by the disruption of supply chains due to Covid and the Russo-Ukrainian war.

The global textile market is projected to grow to US$722 billion in 2026, with an annual growth rate of 5.70%.

These numbers have come with the support of e-commerce, which has opened new doors for new manufacturers from China, India and the region.

And while some manufacturers’ sales have been affected by the Russo-Ukrainian war, others have found ways to capitalize on it.

In the Gulf, the textile industry is expected to grow by 4% over the next five years.

The UAE has a large textile industry that comes after oil in terms of income and employment, as it produces and exports products such as baby seats, tents, suitcases and some luxury fashion in more than 50 countries.

Recycled fabrics are becoming increasingly popular to achieve sustainability. It is estimated that 20% of wastewater pollution comes from dyeing and treating fabrics.

The size of the global recycled fabrics market is estimated in $6.4 billion and is projected to grow by 6% to reach $8.6 billion by 2027.

Read More About: Business News


Exit mobile version