The global market for knitted fabrics reached a value of nearly $56 billion in 2018. Asia-Pacific is the largest market for knitted fabrics market, accounting for around 78% of the global market. China is the largest country in terms of value in the knitted fabrics market.
The knitted fabrics market consists of the sales of knitted and crocheted fabrics by entities 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) fabric, knitting and finishing weft and warp fabric, manufacturing lace, and manufacturing, dyeing, and finishing lace and lace goods.
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Knitted Fabrics Market Size
The knitted fabrics market is expected to grow at a growth rate of around 4% to nearly $66 billion by 2022.Growth in the historic period resulted from growth in the apparel manufacturing industry, increase in demand for knitted footwear, and growth in home textiles market. Going forward, emerging markets growth, growing e-commerce, favorable government initiatives, and increasing applications of synthetic fibers will drive growth. Factors that negatively affected growth in the historic period were rise in cotton prices, uncertain apparel demand and rise in inventory levels.
The market for knitted fabrics is highly fragmented with small numbers of large entities which command significant market share and large number of small entities with minor share. Some of the players in the market are Shenzhou International Holdings Limited, Toray Industries Inc, Pacific Textiles, Teejay Lanka PLC, and Fakir Group.
Shenzhou International Holdings Limited was the largest competitor in the knitted fabrics market in 2017 with around 4% share of the market. The company was established in 2005 and is headquartered in Ningbo, China.
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Increasing Applications Of Synthetic Fibers – The demand for synthetic fibers is mainly driven by the increasing applications of synthetic fibers in the apparel and construction industries. Synthetic fibers give specific characteristics such as thermal insulation, low soiling characteristics, which can be modified for a wide range of products such as table cloths, napkins, curtains and carpets. These fibers are also being used in new areas of application such as roof insulations, geotextiles for stability of roads, walls and dams.
Growing E-commerce – The increasing demand for online shopping is expected to push the demand for apparel, driving the knitted fabrics market. E-commerce allows apparel manufacturers to sell their products on a larger platform than before, increasing their customer base geographically.
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