Product ID: UCMIG25M2059
Report ID:
UCMIG25M2059 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The estimated market size for global contract textiles in 2022 was USD 14.58 billion, and it is projected to experience a 4.4% compound annual growth rate (CAGR) from 2023 to 2030. This growth is a result of the increasing demand for contract textiles tailored to meet the specific needs of end-users in sectors such as hospitals, businesses, public buildings, and hotels. Unlike domestic fabrics, contract textiles must endure numerous washing and drying cycles in commercial laundries, necessitating a higher standard of quality to withstand the rigors of their service life. The contract textile industry operates in a business-to-business context, with fabric producers establishing agreements with parties involved in producing finished goods for commercial end customers.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Textiles by segment aggregation, the contribution of the Textiles in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25M2059