Knitted Fabrics Market Definition
The knitted fabrics market consists of the sales of knitted and crocheted fabrics by entities (organizations, sole traders or partnerships) that manufacture knitted and crocheted fabrics. Companies in the knitted fabrics industry are involved in knitting weft (i.e., circular) and warp (i.e., flat) fabrics, the finishing of fabric including encapsulation, moisture management, sueding and several other customized finishes which improve appearance, properties and serviceability; dyeing of fabric, manufacturing and finishing lace and lace goods. These companies may knit only, knit and finish, or knit, finish, and further fabricate fabric products (except apparels).
Knitted Fabrics Market Size
The knitted fabrics market reached a value of nearly $55.8 billion in 2018, having grown at 2.1% since 2014.
Growth in the historic period resulted from growth in the apparel manufacturing industry, the increase in demand for knitted footwear, and technological advances in the industry. Factors that negatively affected growth in the historic period were the rise in cotton prices, uncertain apparel demand, and the rise in inventory levels.
Going forward, growth in emerging markets, growing e-commerce, favorable government initiatives, and increasing applications of synthetic fibers will drive growth. Factors that could hinder the growth of the knitted fabrics market in the future include reductions in free trade and rising interest rates.
Knitted Fabrics Market Drivers
The key drivers of the knitted fabrics market include:
Growth In The Apparel Manufacturing Industry
The knitted fabrics market was mainly driven by the growth in the apparel manufacturing industry. The apparel manufacturing industry is a major end-user of knitted and crocheted fabrics. The global apparel manufacturing market grew from $684.6 billion in 2017 to $758.7 billion in 2018. The growth in the apparel manufacturing market attributed to demand from young consumers, their spending on clothes and high disposable income, increased the demand for knitted fabrics, had a positive impact on the global knitted fabrics market during 2014-2018.
Knitted Fabrics Market Restraints
The key restraints on the knitted fabrics market include:
Rise In Cotton Prices
The rise in cotton prices globally acted as a restraint on the knitted fabrics market. Cotton is a major raw material for manufacturing knitted fabrics. The increased cotton prices increased the raw material costs for the knitted fabrics manufacturers, reducing profit margins. In June 2018, international cotton prices reached $1.017 per pound, crossing the threshold of $1 per pound for the first time in more than six years. The average of the Cotlook ‘A’ Index for May 2018 was $0.8799 per pound, the highest value since 2013-2014.
Knitted Fabrics Market Trends
Major trends influencing the Knitted Fabrics market include:
Eco-Friendly Fabrics
The demand for eco-friendly fabrics is increasing due to rising awareness of global warming and the need to protect the environment. Eco-friendly fabrics are made from environmentally-friendly materials such as organic cotton, organic linen, Tencel and recycled materials. The manufacturing process of these fabrics does not involve harmful chemicals or dyes generally used in fabric manufacturing. According to the Organic Trade Association, the production of organic cotton increased by around 10% between 2016 and 2017. According to the association’s 2018 Organic Industry Survey, sales of organic fiber in the USA reached $1.6 billion in 2017, an 11% increase over the previous year.
Use Of Artificial Intelligence In Knitted Fabric Manufacturing
Knitted fabrics manufacturers are increasingly using artificial intelligence in fabrics manufacturing processes. Artificial intelligence is being used to predict the quality and properties of fabric using yarn, fiber and fabric constructional data before the fabric is actually manufactured. Also, the selection of an appropriate shade of colors, and quality control during dyeing and printing can be achieved using artificial intelligence. Artificial intelligence is also being used for quality inspection of fabrics. The WiseEye fabric defect detection system developed by the Hong Kong Polytechnic University (PolyU) in 2018 uses artificial intelligence to detect manufacturing faults and helps minimize losses.
Opportunities And Recommendations In The Knitted Fabrics Market
Opportunities – The knitted fabrics market size will gain the most in China at $5.9 billion. Market-trend-based strategies for the knitted fabrics market include investing in artificial intelligence technology, adopting 3D knitting machines, investing in IoT technology to improve production efficiencies and reduce costs, and developing flame retardant fabrics that are economically priced.
Recommendations – To take advantage of these opportunities, The Business Research Company recommends the knitted fabrics manufacturing companies to focus on manufacturing weft-knitted fabrics, outsourcing business to low markets, expanding through partnerships and collaborations, and manufacturing eco-friendly fabrics, among other strategies.
Knitted Fabrics Market Segmentation
The Knitted Fabrics market is segmented by type of material, end-user, construction type and by geography.
By Material Type-
The Knitted Fabrics market can be segmented by type of material
- a) Synthetic Fibres, Dyed
- b) Pile Fabrics
- c) Elastomeric Yarn
- d) Cotton, Dyed
- e) Synthetic Fibres, Printed
- f) Artificial Fibres, Dyed
- g) Lace
- h) Others
Synthetic Fibres, Dyed was the largest segment in the global knitted fabrics market at 19.3% of the market and was worth about $10.8 billion. This can be attributed to the large-scale use of knitted fabrics made of dyed synthetic fibres in apparels.
By End-User -
The Knitted Fabrics market can be segmented by end-user
- a) Fashion & Clothing
- b) Technical
- c) Household
Fashion & clothing was the largest segment and also the fastest growing segment of the knitted fabrics market by type of end-user in 2018. The market size is mainly attributed to high demand for knitted footwear, adoption of sportswear and casualwear globally and high popularity of knitwear among the millennial population.
By Construction Type -
The Knitted Fabrics market can be segmented by type of construction
The weft knitted fabrics market was the largest segment of the knitted fabrics market in 2018.
By Geography- The Knitted Fabrics market is segmented into
- o North America
- o Western Europe
- UK
- Germany
- France
- Spain
- Italy
- o Asia Pacific
- China
- Japan
- India
- Australia
- o Eastern Europe
- o South America
- o Middle East
- o Africa
Asia-Pacific was the largest region in the knitted fabrics market, accounting for 77.6% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the knitted fabrics market will be the Middle East and Africa.
Knitted Fabrics Competitive Landscape
Major Competitors are:
- • Shenzhou International Holdings Limited
- • Toray Industries Inc.
- • Pacific Textiles
- • Teejay Lanka
- • Fakir Group
Other Competitors Include:
- • Qingdao Jifa Group Co., Ltd.
- • Jiangsu Lianfa Textile Co Ltd
- • Arvind Ltd
- • Bombay Rayon Fashions Ltd.
- • Gehring Tricot Corporation
- • Bombay Rayon Fashions Ltd
- • SEL Group
- • Jihua Group
- • Shanghai Haixin Group Company, Ltd
- • Shanghai Kaikai Industry Company, Ltd
- • Shangtex Holding Co Ltd
- • Jiangsu Sunshine Group
- • Shandong Demian Incorporated Company
- • Dokoh Shoji Co., Ltd
- • Tsuboyoshi Orimono Co., Ltd
- • Husein Industries Limited
- • Safa Textile Limited
- • Beximco Textile
- • Thermax Group
- • DBL Group
- • Knit Concern Group
- • Toray Industries
- • Dokoh Shoji Co.,Ltd
- • Tsuboyoshi Orimono Co.,Ltd
- • Nuova Confezione SRL
- • Eurojersey, Baltex
- • Georg und Otto Friedrich
- • Maglificio Innocenti
- • GP Maglificio
- • Balmoral Knitwear Ltd.
- • Paul James Knitwear Limited
- • Transtextim
- • Dee Kay Knitwear (UK) Ltd
- • Eurojersey
- • Baltex
- • Balmoral Knitwear Ltd
- • BTK Group
- • Russky Trikotazh
- • Contempora Fabrics
- • Texollini
- • Beverly Knits
- • Heritage Knitting
- • Gentry Mills
- • Matchmaster Fabrics
- • Design Knit
- • SG Knits
- • Vertical Knits
- • Roopa Knitting Mills
- • Hafner
- • Tricot Bains Textile Mills
- • Rendabras Ind. De Rendas Ltda
- • Lenor Industries S.A. De C.V.
- • Sarwani International Corporation
- • Gale Pacific Fze
- • Terico Golzar
- • Frame Knitting Manufacturers Ltd
- • South-tex Knitting Mills Cc