“US Textile Market Data Review”
Increased investment by textile companies, boosting domestic textile production, and rapid urbanization are driving the growth of the textile raw material market in the US
Textile raw materials are materials that are made of thin fibers and cut into threads and woven into cloth. Raw material in the textile industry plays a vital role in the continuous production of high quality fabrics and they are selected according to the manufacturing facility of the companies, either they have a mixed mill or just a spinning, weaving, dyeing finishing. Fabrics such as cotton, wool, silk, jute, and man-made fibers such as nylon polyester are some of the commonly used raw materials for textile manufacturing especially clothing and apparel. When countries adopt certain measures to improve their effectiveness and take initiatives to support companies in their rise, they achieve strong and sustained growth. The US government has taken certain steps to boost US textile production that will positively affect the region’s revenue and production volume. For example, in 2021 the US government introduced a new exemption process in its Buy America Act that would allow US companies competing for government contracts to review submissions for exemptions in Buy America law. Such a new exemption process would stimulate domestic textile production and encourage more investment in American textile manufacturing, which would increase the volume of textile production in the US. Textile Raw Materials Market in America It was valued at US$5,375.6 million in 2016 and has grown to US$6760.0 million in 2020.
The US plays an important role in the global cotton market as it is one of the major producers and exporters of the fiber. Cotton as a raw material has high applicability in various textile items such as its major use in the manufacture of various types of clothing and apparel, in home textiles, it is used for making curtains, cushions, draperies, rugs, etc. and is used in medical textiles. Used to make sanitary products, surgical covers, etc. Such high consumption of cotton in the above mentioned regions makes it an essential textile raw material and increase in demand for cotton will increase its production. The US is a world leader in textile research and development, with the US textile complex developing next-generation textile materials such as electronic clothing that regulates heart rate and other vital signs, antimicrobial fibers, life-saving body armor, and new clothing that adapts to the climate , can monitor. To warm or cool the wearer. Such rapid development in the textile sector will result in more effective use of raw materials for manufacturing the next generation of textile products.
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Countries in the North American region such as Mexico and Canada are some of the largest textile and apparel sector markets in the US. In 2020, the United States-Mexico Canada Agreement replaced the North America Free Trade Agreement and allowed the US to export more of its textile materials. provided opportunities. such as fabrics and fibres. For example, according to the United States, International Trade Commission Mexico and Canada were the leading importers of US textiles and apparel, up 36.3% in 2020. In addition, clothing, apparel and miscellaneous textile products made up the bulk of America. Exports to Canada and Mexico, with these two destinations accounting for 55.0 percent of clothing exports, 51.6 percent of apparel exports, and 45.1 percent of miscellaneous textile products exports. Rising demand for US-made textiles and apparel in such major North American countries will have a positive impact on the production of US textiles, resulting in the growth of the US textile raw material market.
The dress style of American society is alternative and mainly informal, so the diverse cultural roots are reflected in their clothing. Fashion is a product of modern era and with rapid urbanization, increase in disposable income, and increasing demand for qualitative apparel like tops, trousers, shirts from major companies like Code Denim, American Eagle, Vetta, Vlani, Sira, etc. There has also been an increase in fashionable textile items. For example, according to the Bureau of Economic Analysis, spending on fashion items, including clothing and shoes, in the US increased by 62.48% in the second quarter of 2021, compared to 2.26 percent for the same period in 2019. Part of the fashion sector and rising consumption of such items will enable major companies such as Code Denim, American Eagle to increase their production output, with increased use of raw materials further spurring the growth of the textile raw material market in the US.
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Textile Raw Materials Market in the US Growth – Drivers
Increase in consumer demand for textile and apparel items
The United States of America is one of the leading countries like France, Italy, United Kingdom and Japan where fashion and clothing business is highly valued as it displays a person’s identity to the world. The American consumer is very particular about their clothing style and it varies from city to state. Fast fashion is becoming more common due to faster manufacturing methods, increased consumers’ appetite for up-to-the-minute styles, and increased purchasing power, especially among young people. E-commerce shopping has changed the shopping trend for consumers from traditional stores to online retailing platforms. The growing popularity of US-made clothing products has increased consumer demand for these products in other major countries, leading to an increase in US textile and apparel exports. According to the Office of Textiles and Apparel, exports of textiles and apparel from the United States grew 18.62 percent year-on-year in the first ten months of 2021, representing an increase of $18.83 billion compared to $15.850 during January-October 2021. Is. Billion in 2020. According to the US Department of Commerce, 2020 US online apparel sales accounted for 46% of total apparel sales and helped keep the US apparel segment afloat during a pandemic. In such a context, the US increased the production of textiles, increasing the use of raw materials and fabrics in them, leading to an increase in the textile raw material market in the US.
Major players in this market include
Major companies in the textile raw material market in the US include Hershners Inc., SpinRite Inc., Champion Thread Company, Safety Components, Standard Textile Company Inc., Cone Denim, American Silk Mill, Lion Brand Yarn Company, Elevate Textiles, American and Co. Efford. The main focus of companies has shifted to acquisitions and product launches.
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