In today's era textile is the second sector of providing largest employment after the agriculture sector in most of the all developing and under developing countries.
In case of India out of the total export, textile takes part at about 16% as well as in today's date India stands at second place for largest manufacturing capacity in the world.
estimated worth of global textile & clothing industry is about the US $4395billion and currently, global trade in textiles & clothing stands around the US $360bn.
The world trade organization is predicted that the global trade of the textile will expand by 3.3% this year and it is expected that it will grow by 4% next year.the success of the global trade is is largely depend on continuing major investment in innovation and invention in textile business.
Day by day the share of technical textile in the total world exports is also gradually increasing that is the reason that it forces the textile industry to the promotion.in total world wide export of the textile the share of technical textile is at about 27%.
It may be even 50% in some of the western countries while in case of India it is 11%.
Transparency market research (TMR) estimated that the global technical textile market is growing with CAGR of 3.3% from 2012.iot is also expected that in 2018, The global technical textiles market will reach a market value of US$160.38 billion from US$133.93 billion in 2012.
Global Textile Business In Markets
In today's age due to the globalization, the leading textile machine manufactures like China, Germany, Italy, Switzerland, and India is in a gigantic competition to give the machines with the best technology.
Global industry analysts, Inc.(GIA) has estimated that the global bazaar for textile machinery is to reach US$ 22.9 billion by 2017.
The U.S. Textile Industry - A World Apart In Sustainability
Demand for sophisticated machines that produce high-quality clothes is drastically increasing & whatever is the technology, the purchasing decision of the investor is greatly influenced by the machines versatility, flexibility, and price offers.