Development prospects of the textile industry in the next 10 years

The development prospects of the textile industry in the next decade are promising, and the market size is expected to exceed 3.4 trillion yuan.

As an important part of light industry, the textile industry has the characteristics of less investment, fast capital turnover, short construction period, and large employment capacity. With the advancement of globalization and digitalization, the textile industry is undergoing unprecedented changes and rebirth. It is expected that in the future, the textile industry will continue to develop towards high-tech, green environmental protection and personalization. The application of new technologies such as intelligent production and 3D printing will bring revolutionary changes to the textile industry. At the same time, with the improvement of global environmental awareness, green textiles will become the new favorite of the market.

In terms of the domestic demand market, with the gradual stabilization of residents' income and consumer confidence, and the continued activity of consumption hotspots such as "Big Health" and "Guochao", domestic sales of textiles and clothing continue to maintain steady growth. In terms of exports, the overall export situation of textiles and clothing in my country is better than expected, driven by factors such as steady growth in demand in some overseas markets and a small amount of inventory replenishment by international brands.

In addition, the entrepreneurial opportunities in the textile industry are also very broad, including branding, innovative design, online and offline integration, and industrial chain integration strategies, providing entrepreneurs with diversified choices and development paths. With the positive manifestation of the effect of national policies to promote consumption, and the promotion of new formats and models, the online retail channels of textiles and clothing have maintained steady growth, injecting new vitality into the development of the industry.

In summary, the development prospects of the textile industry in the next decade are optimistic, the market size will continue to expand, and technological innovation and brand building will become the key to industry development.

However, most clothing companies mainly export with OEM, and domestic sales have not yet formed a "brand premium", and the industry's barriers to entry are low, and price competition has become the main means. Therefore, the main business expansion of clothing companies is restricted; fabric companies are in the middle of the industrial chain. The rapid development of the garment industry has a strong demand for fabrics. At present, nearly 50% of the fabrics in exported garments still need to be imported, and the country also regards "domestic fabrics replacing imports" as an important industrial policy. The fabric industry mainly relies on equipment technology competition, the industry barriers are high, the sales constraints are weak, and companies can easily increase their performance by expanding production. Therefore, fabric companies and fabric-clothing upstream and downstream supporting companies in the textile sector have good prospects.