Knitted Fabric market COVID-19 Impact, Trends & Business Statistics By 2025
Posted by Mrudula Anil Karmarkar on January 21st, 2022
The global knitted fabric market size is expected to reach USD 35.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% over the forecast period. Increasing application of knitted fabric as technical textile in the automotive, packaging, manufacturing, medical, and construction industries is expected to accelerate the growth of the market in the near future. Development of seamless and float plating technology has enhanced the production efficiency and widened the scope of the product over the world.
The technical application segment dominated the global market in 2018 and accounted for more than 80.0% share of the overall revenue. Technological advancements such as 3D knitting or spacer fabric have widened the scope of the product in various industries including apparel, construction, automotive, and household. Growing importance of medical textiles in the implantable medical device has expanded the scope of the product in the medical industry. Dimensional flexibility, controlled elongation, controlled porosity, and compressibility are favorable features of the product, thereby making it well-suited for medical application.
As of 2018, Asia Pacific held 70.2% share of the global revenue. China dominates the region with a major share of the overall revenue. India and Bangladesh are also important markets of this industry. Over the past few years, the knitwear industry of India has been witnessing significant growth. Rising popularity of comfort wear such as t-shirt is fueling demand for the product in this economy. In addition, rapid growth of the automotive, construction, and manufacturing industries of India is projected to boost the market growth in the upcoming years.
Key competitors of this industry include Baltex; Georg and Otto Friedrich GmbH; Jong Stit Co., Ltd.; Zhejiang Chaoda Warp Knitting Co., Ltd.; Haining Jinmao Warp Knitting Co., Ltd.; ABHINANDAN KNITS PVT LTD.; Guilford; Loyal Textile Mills Ltd.; Pacific Textiles Holdings Limited; TORAY INDUSTRIES, INC.; Teejay Lanka PLC; and SSM Industries.
Have a Query? Ask our experts:
Weft-knit fabric dominated the industry with a share of more than 60.0% in 2018. Low cost, better elasticity, and simpler production process make it more preferable among the manufacturers. It includes different types of stitches such as plain or jersey, rib, purl, interlock, double knit, and circular knitting. Weft knitting is commonly used for underwear, pajamas, jumpers, scarves, hats, and gloves. Over the past few years, circular knitting machines have gained significant importance in the seamless hosieries and underwear manufacturing industry.
Knitted Fabric Market Report Highlights
Key players of this industry include Baltex; Jong Stit Co., Ltd.; Georg and Otto Friedrich GmbH; Zhejiang Chaoda Warp Knitting Co., Ltd.; ABHINANDAN KNITS PVT LTD.; Haining Jinmao Warp Knitting Co., Ltd.; Guilford; Loyal Textile Mills Ltd.; TORAY INDUSTRIES, INC.; Pacific Textiles Holdings Limited; Teejay Lanka PLC; and SSM Industries. It is a highly fragmented market, which includes a large number of small producers and a few large producers.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare
Like it? Share it!
About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 1,370
More by this author