The global knitted fabric market size was valued at US$ 23.8 billion in 2018 and is anticipated to witness significant growth in the next six years, according to the latest report released by Trusted Business Insights.
The report titled Latest Study on Knitted Fabric Market 2019-2025 contains market predictions related to market size, revenue, production, CAGR, consumption, gross margin, price, and other substantial factors. The growing apparel industry is one of the major factors driving the market. Furthermore, the increasing importance of knitted fabric in the automobile, construction, manufacturing and medical sectors is expected to fuel market demand over the forecast period.
Shifting consumer preference for lightweight and high-performance knitwear is fuelling the demand for feathery raw materials including polypropylene, linen, silk, faux fur, and synthetic fibres. Woven fabrics have been replacing bulked yarns made knitted fabrics. Over the past few years, the apparel industry has been witnessing steady growth in demand for the loop stitch jackets, cardigans, large shawls, and scarfs.
Furthermore, demand for feather-light circular knit fabrics has increased in the hosiery market due to its better breathability of the material. Lightweight knitted textile has also gained significant traction in the protective clothing market. Sponge-like, anti-tear, and durable materials are applied in single or double layers in the protective clothes. Similarly, featherweight textile, along with high compression, chlorine resistant, and moisture management property, has witnessed high demand in the sportswear industry.
In addition, the application of knitted fabric has been increasing in denim garments, as consumer preference is shifting towards wrinkle-resistant, flexible, soft, and comfortable textile. The rising importance of synthetic fibres in the construction and apparel industries is expected to propel the growth of the market in the upcoming years. Application of the fibre has been expanding in the construction industry as geotextiles in roof, walls, dams, and roads.
Moreover, thermal insulation and dust-resistant features of synthetic fibre make it ideal for the production of curtains, napkins, carpets and table cloths. Implementation of artificial intelligence (AI) has been increasing in this industry.
“Fast adoption of 3D knitting machines in the industry has increased the productivity of the manufacturers. This machine can knit multiple yarns at the same time by using digitally stored information. This technology makes customization easier and saves both operating time and costs. These technological developments are expected to foster market growth over the world. However, rising cotton price and counterfeit products can hamper the growth of the industry in the near future,” the publisher said.
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, pyjamas, 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.
The warp-knit products are expected to witness the fastest CAGR of 6.4% from 2019 to 2025. Warp knitting is used in several industries including apparel, inner wears, shoes, household, automotive, and industrial. Rapid growth of the automotive, construction and manufacturing industries is expected to fuel the segment growth. Different types of warp knitting include tricot knits, raschel knit, crochet knit, and Milanese knit.
As of 2018, Asia Pacific dominated the knitted fabric market and accounted for 70.2% share of the total revenue. China holds the largest share among all the countries in the world. This nation is one of the top exporters of the clothing industry across the world. It represents one-third textile and apparel import of Europe. Manufacturers in this country are shifting towards automation and digitalisation for high high-quality knitting textile.
Other than China, India and Bangladesh are also prominent markets for knitwear.
For more information visit: https://www.knittingindustry.com