The growing incidence of the apparel industry and the use of knitted fabric in end-use applications are key factors driving global growth in the industry.
Knitted Fabric Market Size – USD 23.16 Billion in 2019, Growth - CAGR of 4.8%, Trends – Growing prevalence of innovative 3D technology.
The Knitted Fabric Market is projected to reach USD 33.63 Billion by 2027. Critical factors such as increasing use of knitted fabric as a technical textile in the automotive, retail, manufacturing, medical, and construction industries are expected to drive market growth in the near future. The development of seamless and float plating technology has increased manufacturing efficiency and broadened the product's scope around the world.
The technical application segment dominated the global market and accounted for the majority of total revenue. Technological advances such as 3D knitting or spacer fabric, have broadened the product's scope in different industries, including apparel, construction, automotive, and household. The increasing importance of medical textiles in implantable medical devices has broadened the product's scope in the pharmaceutical industry. Dimensional strength, controlled elongation, controlled porosity, and compressibility are the product's favorable characteristics, making it well suited for medical use.
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Top Companies: Gehring Tricot Corporation, Guilford Mills, Macra Lace Company, Rebtex Inc, Clover Knits, Damodar Menon International Pvt Ltd, SAS Textiles, William J Dixon Inc, Jason Mills LLC, Krishna Overseas, and Loyal Textile Mills Ltd, among others.
Further Key Finding from the Report Suggestion:
- Rapid expansion in the textile industry has generated more growth offers, thereby attracting new players to enter the industry. This ensures that competition in the knitted fabrics market is increased.
- Major manufacturers are introducing more creative and superior quality products using manufacturing techniques of the next generation to add a new dimension to the knitted fabrics industry.
- Knitted fabrics are widely used as medical textiles in the health-care industry. Textile engineers have discovered that knitted fabrics are more flexible, highly permeable than woven fabrics, and have a loose and elastic structural nature, thus being able to be used in versatile medical applications.
- Knitted fabrics are considered to be more vulnerable to damage than their woven counterparts, thereby risking the fabric's use efficiency in different applications.
- In recent years, many of the significant market players have raised investment in RD projects, leading to the production of many innovative goods. Strategic collaborations among suppliers of Knitted Fabric are increasing exponentially as companies focus on inorganic growth strategies.
- In October 2019, with the aid of KnitCrete – a 3D-knitted formwork – Zaha Hadid Architects and researchers from ETH Zurich built double-curved concrete shelled pavilion. The system is believed to have helped to save building material, waste, and energy by simplifying the design cycle for complex shapes.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
Key Features of Knitted Fabric Market:
The knitted fabric market is a global market that includes the production and sale of knitted fabrics of various types and for various applications. Some key features of this market are:
- Diverse applications: Knitted fabrics are used in a variety of applications, from apparel to home furnishings to industrial textiles. This versatility makes the knitted fabric market relatively stable, as demand for knitted fabrics is spread across multiple industries.
- Material variety: Knitted fabrics can be made from a variety of materials, including cotton, wool, silk, synthetic fibers, and blends of different materials. This variety allows for a wide range of styles and textures, and also allows knitted fabrics to be customized for specific uses.
- Environmental impact: The knitted fabric market is increasingly concerned with reducing its environmental impact. This includes using sustainable materials and production methods, reducing waste, and improving supply chain transparency. Consumers are becoming more aware of the environmental impact of their purchases and are seeking out environmentally responsible options.
- Technological advancements: The knitted fabric market has seen significant technological advancements in recent years. New production methods, such as digital knitting and 3D knitting, are being developed, allowing for more complex designs and customized products.
- Regional variations: The knitted fabric market varies widely by region, with different styles and preferences depending on cultural and environmental factors. For example, the market for woolen knitted fabrics is stronger in colder climates, while the market for lightweight and breathable fabrics is stronger in warmer climates.
- Competition: The knitted fabric market is highly competitive, with many manufacturers vying for market share. In order to succeed, manufacturers must offer high-quality products, competitive prices, and good customer service.
Overall, the knitted fabric market is a dynamic and diverse market, with opportunities for growth and innovation. As consumer preferences continue to evolve and technology advances, the market is likely to continue to change and adapt to new challenges and opportunities.
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The global Knitted Fabric market is segmented into:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Warp-Knit
- Weft-Knit
Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Synthetic Fibers
- Elastomeric
- Cotton
- Artificial Fibers
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Household
- Clothing
- Fashion
- Technical
- Medical
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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