Apparel Knitting Mills in the US
The Apparel Knitting Mills industry has been contracting for more than a decade as more clothing manufacturing is done in low-cost countries abroad. This contraction has led industry revenue to decline steadily over the five years to 2019. While consumers have benefited from an increase in disposable income levels during the current period, it has not resulted in significantly increased demand for apparel knitting in the United States due to the continued threats from import penetration. Over the five years to 2024, industry revenue is expected to increase slightly. As the trade-weighted index is projected to decrease during the outlook period, the value of the US dollar is expected to appreciate and incentivize the exports of industry goods. As a result, the cost of imported raw materials is anticipated to increase. Additionally, owing to the uncertainties surrounding trade with several key trade partners for this industry, import penetration is expected to be constrained. Overall, the industry is projected to reverse the decline trend over the next five years.
Industry operators knit and manufacture underwear, outerwear, nightwear and knitting fabric. Firms knit the fabric and then manufacture apparel; knit apparel directly from yarns and fibers; or knit, manufacture and finish the industry’s products. The products differ from cut and sew apparel products, which are generally manufactured from broadwoven fabrics purchased from textile mills.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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