Textile Manufacturing
Description
Companies in this industry operate mills that produce textiles and textile products from natural and synthetic materials. Major companies include Milliken and WL Gore & Associates (both based in the US); Chinatex and Weiqiao Textile (both based in China); Far Eastern New Century (Taiwan); Hyosung (South Korea); and Teijin, Toray, and Toyobo (all based in Japan).
The worldwide global textile market is expected to reach $916 billion by 2029, according to Research and Markets. China dominates the global industry; other major players include Bangladesh, Vietnam, India, and Turkey, according to the Observatory of Economic Complexity (OEC).
The US textile manufacturing industry includes about 8,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of nearly $50 billion.
COMPETITIVE LANDSCAPE
Demand is driven by the domestic apparel industry and consumer demand for home furnishings like carpets, furniture, and curtains. The profitability of individual companies depends on efficient operations. Large companies have economies of scale in production for high-volume items. Small companies can compete successfully by producing specialized textiles. The US industry is concentrated: the 50 largest companies generate about 60% of revenue.
Textile imports, which account for about 45% of the US market, come mainly from Canada, China, India, Mexico, and South Korea. Exports represent about 25% of US textile production. The main export destinations include Canada, China, Dominican Republic, Honduras, and Mexico. Many manufacturers ship fabric to other countries for sewing into final garments, which are then reimported into the US.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are yarns, textured, crimped, and bulked, filament, including stretch (about 10% of revenue). The industry produces yarns and threads out of natural (wool and cotton) and synthetic (plastics) materials. Yarns and thread are used to produce fabrics that are woven or knit, finish fabrics by dyeing or coating them, and make fabrics into simple finished consumer products like rugs, carpets, curtains, linens, and textile bags.
Textiles are made in factories (still called mills because they were among the earliest industrial users of water power) using highly specialized, automated machinery, mainly yarn spinning machines, knitting machines, and various looms. The combination of a large number of possible yarns and a large number of knitting and weaving techniques produces a gigantic number of possible textiles in a wide array of colors. Larger textile firms tend to be vertically integrated, often converting raw material into yarn, then using the yarn to produce fabric, which they also dye and finish. Small companies tend to concentrate on niches, and usually aren't involved in all phases of production. Many firms manufacture raw fabric that is dyed and processed by customers, known as "greige goods."
Textile manufacturers buy raw material for production from various sources. Cellulosic, or natural, fibers, such as cotton, silk, or wool are typically purchased from commodity brokers and farm cooperatives. Synthetic fibers, such as olefin, polyester, acrylic, or nylon, are usually bought from chemical manufacturers. Nylon, polyester, and silk are called filaments. Companies manufacture yarns to have various characteristics depending on the intended end-use. A loom runs filaments or yarn threads in various patterns called weaves. The type of thread used and the type of weave pattern applied to it determine the type of fabric produced. Weaves are categorized according to the manufacturing method used, such as plain or satin. The major categories of fabrics are broadloom and knit.
The worldwide global textile market is expected to reach $916 billion by 2029, according to Research and Markets. China dominates the global industry; other major players include Bangladesh, Vietnam, India, and Turkey, according to the Observatory of Economic Complexity (OEC).
The US textile manufacturing industry includes about 8,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of nearly $50 billion.
COMPETITIVE LANDSCAPE
Demand is driven by the domestic apparel industry and consumer demand for home furnishings like carpets, furniture, and curtains. The profitability of individual companies depends on efficient operations. Large companies have economies of scale in production for high-volume items. Small companies can compete successfully by producing specialized textiles. The US industry is concentrated: the 50 largest companies generate about 60% of revenue.
Textile imports, which account for about 45% of the US market, come mainly from Canada, China, India, Mexico, and South Korea. Exports represent about 25% of US textile production. The main export destinations include Canada, China, Dominican Republic, Honduras, and Mexico. Many manufacturers ship fabric to other countries for sewing into final garments, which are then reimported into the US.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are yarns, textured, crimped, and bulked, filament, including stretch (about 10% of revenue). The industry produces yarns and threads out of natural (wool and cotton) and synthetic (plastics) materials. Yarns and thread are used to produce fabrics that are woven or knit, finish fabrics by dyeing or coating them, and make fabrics into simple finished consumer products like rugs, carpets, curtains, linens, and textile bags.
Textiles are made in factories (still called mills because they were among the earliest industrial users of water power) using highly specialized, automated machinery, mainly yarn spinning machines, knitting machines, and various looms. The combination of a large number of possible yarns and a large number of knitting and weaving techniques produces a gigantic number of possible textiles in a wide array of colors. Larger textile firms tend to be vertically integrated, often converting raw material into yarn, then using the yarn to produce fabric, which they also dye and finish. Small companies tend to concentrate on niches, and usually aren't involved in all phases of production. Many firms manufacture raw fabric that is dyed and processed by customers, known as "greige goods."
Textile manufacturers buy raw material for production from various sources. Cellulosic, or natural, fibers, such as cotton, silk, or wool are typically purchased from commodity brokers and farm cooperatives. Synthetic fibers, such as olefin, polyester, acrylic, or nylon, are usually bought from chemical manufacturers. Nylon, polyester, and silk are called filaments. Companies manufacture yarns to have various characteristics depending on the intended end-use. A loom runs filaments or yarn threads in various patterns called weaves. The type of thread used and the type of weave pattern applied to it determine the type of fabric produced. Weaves are categorized according to the manufacturing method used, such as plain or satin. The major categories of fabrics are broadloom and knit.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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