Textile Market News

As per a report by Textile Today global function textiles market valued at $140.12 billion in 2022, will grow at a CAGR of 7.7 per cent from 2023-31 to reach of $273.18 billion by 2031.

The Indian textile industry is set to benefit from a recent Supreme Court decision.

Wool prices are less influenced by traditional agricultural factors and more by broader economic trends, mirroring other industrial commodities like cotton and polyester.

Acrylic fiber prices have remained unchanged since last November, despite fluctuations in raw material costs.

Polyester product exports from China saw significant growth in the first half of 2024, with a notable shift from fiber to non-fiber products, according to customs data.

Cotton prices in India have fallen below Rs 60,000 per candy (356 kg) due to weak demand for yarn and garments, with a slight recovery expected around mid-August.

India’s textile sector is reeling under the pressure of skyrocketing cotton and synthetic fibre prices, which are significantly higher than global rates.

China's spandex industry is grappling with a severe supply glut. Despite robust production capacity expansion and double-digit growth since 2021, demand has fluctuated wildly.

President Shavkat Mirziyoyev has issued a decree to reform Uzbekistan's cotton industry, targeting inefficiencies in cotton-textile clusters.

The Madhya Pradesh government has joined hands with key textile industry players to transform the state's economy.

Pakistan's cotton production has gone down by nearly half this season, a devastating blow to the economy.

The Indian government is intensifying efforts to bolster the country’s textile and handicraft sectors.

French companies Carbios and Nouvelles Fibres Textiles have announced a partnership to recycle polyester textiles.

Indian textile firm Trident reported a 21 per cent decline in its first-quarter profit as soaring cotton prices eroded margins.

Welspun Living announced robust financial performance for the first quarter of FY25, defying global economic challenges.

India's textile sector is set for substantial growth with a 28 per cent budget increase for fiscal year 2024-25.

Uzbekistan is set to host the 82nd Plenary Meeting of the International Cotton Advisory Committee (ICAC) from September 30th to October 3rd, 2024.