November 13, 2023 12:08 ET | Source: Emergen Research Emergen Research
Vanocuver, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The global knitted fabric market size was USD 27.16 Billion in 2022 and is expected to register a revenue CAGR of 4.7% during the forecast period. The market's upward trajectory can be attributed to several key factors, including increasing demand from the garment industry, technological advancements, growing global imports and exports, and a rising need for technical textiles in sectors like automotive, healthcare, and construction. Jersey Fabric
Knitted fabrics, distinguished by their versatility, comfort, durability, and sustainability, have found applications across various industries, including clothing, civil engineering, automotive, aerospace, construction, agriculture, medical, and more. The surge in popularity of athleisure and active wear is driving the demand for knitted fabrics, thanks to their stretchability and moisture-wicking properties.
Over the past 20 years, clothing consumption has grown explosively, with consumers buying over 80 billion new pieces of clothing annually. This unprecedented demand is pushing the knitted fabric market to new heights as it plays a vital role in meeting the growing demand for daily wear
However, the market faces challenges due to high production costs. The complex and resource-intensive manufacturing process, stringent quality control measures, and the need for advanced technology, specialized equipment, and skilled labor contribute to elevated overheads. These factors can affect the competitiveness of knitted fabric in the market, prompting potential buyers to explore more cost-effective alternatives.
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Weft-knit fabrics led the market in 2022, offering a cost-effective, elastic, and straightforward production process. They are known for their stretch, softness, and resistance to wrinkling.
Rising demand from hosiery and sweater industries is driving the growth of weft-knit fabrics.
Manufacturers are investing in research and development to provide tailored products, driving the segment's growth.
Cotton was the dominant material in 2022, owing to its sustainability, biodegradability, and eco-friendly properties.
Cotton's softness, breathability, and durability make it versatile for clothing, bedding, home decor, and medical products.
Innovations like flame-retardant cotton fabric are enhancing safety and comfort in various applications.
The technical segment held the largest revenue share in 2022, driven by the growing adoption of knitted fabrics in performance-driven industries like sportswear, medical textiles, and automotive interiors.
Technical segmentation enables the development of customized products for specific customer needs.
Knitted fabrics are well-suited for integrating components and digital technologies to add various functions.
The Asia Pacific market dominated the global scene in 2022, benefiting from the demand for lightweight clothing, rising disposable incomes, and a large textile industry.
China, in particular, is a major hub for knitted fabric production and export.
North America is poised for rapid growth, with a focus on comfortable and fashionable clothing and eco-friendly fabrics.
Europe is experiencing increased imports of knitted outerwear, especially in the U.K., Germany, and France, as alternatives to Chinese suppliers are sought.
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Major Companies and Competitive Landscape
The global knitted fabric market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective knitted fabric. Some of the major companies included in the global knitted fabric market report are:
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For the purpose of this report, Emergen Research has segmented the global knitted fabric market on the basis of product, material, application, end-use, and region:
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