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Contract Textile Global Market Report 2022: Ukraine-Russia War Impact
Major players in the contract textile market are Agua Fabrics, Beaulieu International Group, Camira Fabrics Ltd. , DELIUS GmbH & Co. KG. , Panaz, Sunbury Design, MAHARAM, Paramount Textile Mills (P) Ltd, CTL LEATHER, C.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Contract Textile Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371415/?utm_source=GNW
F. STINSON, LLC, ARC-COM, and ARCHITEX.
The global contract textile market is expected to grow from $ 4.43 billion in 2021 to $ 4.80 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global contract textile market is expected to reach $ 5.80 billion in 2026 at a CAGR of 4.8%.
The contract textile market consists of sales of contract textiles by entities (organizations, sole proprietors, and partnerships) that refer to fabrics which are designed, produced, sold, and used for commercial interiors.It is a business-to-business (B2B) arrangement in which textile manufacturers agree with companies involved in producing final products for commercial end customers.
Contract textiles are used in healthcare, hospitality, education, and leisure areas for making bed sets, bed sheets, chairs, couches, curtains, linings, cubicle curtains, and many other items.
The main types of contract textiles are type A, type B, and type C.The type A segment consists of sales of type A refera to a fabric where the first marker is not served by the flame and the flame does not burn through the edges of the metal frame while it is tested before and after cleaning.
The different end-users include office spaces, public buildings, healthcare, hotels, restaurants, and cafes (HORECA).
Asia Pacific was the largest region in the contract textile market in 2021. The regions covered in the contract textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in online shopping is driving the contract textiles market.Online shopping is a type of electronic commerce that enables buyers to transact with sellers directly over the Internet using a web browser or a mobile app.
Online shopping has seen a significant surge due to the COVID-19 pandemic.People shifted from offline shopping to online shopping because of restrictions on movement.
This shift has caused an increase in awareness about different types of textiles, including contract textiles.For instance, in 2020, according to the survey conducted on online consumers in 9 countries by the United Nations Conference and Trade Development, there was an increase in the percentage of online shoppers making at least one online purchase every two months during the COVID-19 outbreak.
The online shoppers in pharmaceuticals increased by 9%, the cosmetics and personal care segment increased by 6%, the fashion and accessories segment increased by 2%, and such an increase was evident in other sectors as well. Therefore, the rise in online shopping is expected to propel the growth of the contract textile market.
The rise in product innovations is growing in popularity and has become a key trend in the contract textile market.Innovations such as Celliant fiber are gaining popularity in the contract textile market.
Celliant fiber features patented infrared fiber technology, which enhances cellular oxygenation and local circulation for improved performance, recovery, and sleep.For instance, in October 2021, The Crypton Companies, a US-based textile company, in partnership with Hologenix LLC, a producer of Celliant Infrared Technology, developed Crypton CELLIANT, the first woven upholstery fabric containing Celliant fiber.
When a person sits on a chair covered with Celliant, the minerals in the fabric absorb the heat generated by the body. Thus, by temporarily increasing local blood flow in the cell tissue, performance and recovery are improved.
In September 2019, the Crypton Company, a US-based provider of performance textile technologies in the contract, home furnishings, and apparel markets, acquired Abercrombie Textiles for an undisclosed amount.This acquisition will produce the ideal synergy from a common vision, and combining an American mill and a textile inventor will protect jobs, spur economic growth and open up new markets for textiles created in the United States.
Abercrombie Textiles is a US-based textile mill that weaves jacquard and dobby fabrics for upholstery, wallcovering, drapery, transportation, and decorative accents.
The countries covered in the contract textile market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The contract textile market research report is one of a series of new reports that provides contract textile market statistics, including contract textile industry global market size, regional shares, competitors with a contract textile market share, detailed contract textile market segments, market trends and opportunities, and any further data you may need to thrive in the contract textile industry. This contract textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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