In India, Leading manufacturers are launching more innovative and high-quality products using next-generation manufacturing technologies to bring a new dynamic to the knitted fabrics market. Increasing adoption of state-of-the-art technologies to bolster manufacturing of custom seamless knitwear apparels is becoming increasingly palpable in the knitted fabrics market. Market leaders are completely digitizing their entire production processes to further enhance their business productivity and efficiency. Technological assets, such as physical simulation software, 3D printing technology, and 3D design software, are likely to prevail over traditional manufacturing processes soon in the knitted fabrics market.
Knitted fabric is a textile that results from knitting, the process of inter-looping of yarns or inter-meshing of loops. Its properties are distinct from woven fabric in that it is more flexible and can be more readily constructed into smaller pieces, making it ideal for socks and hats. Knitted fabric offers more comfort and flexibility in use apart from cost advantage over woven fabric. It is therefore fast becoming fabric of masses leading to massive demand everywhere. The demand is expected to grow with the growing global population. The knitted fabric has been increasing in denim garments, as consumer preference is shifting towards wrinkle-resistant, flexible, soft, and comfortable textile. The rising importance of synthetic fibers in the construction and apparel industries is expected to propel the growth of the market in the upcoming years. Application of the fiber has been expanding in the construction industry as geotextiles in roof, walls, dams, and roads.
The Global Knitted Fabric Market is projected to grow at a CAGR of 4.8% from INR 169,000 Crores in 2019 to INR 245,400 Crores in 2027. The industry is driven by critical factors such as increasing demand for the product to improve efficiency and process productivity across application industries. Market development is attributable to growth in the apparel industry. In addition, the growing importance of knitted fabric in the automotive, construction, manufacturing, and medical sectors is expected over the forecast period to fuel market demand.
The demand for eco-friendly fabrics is increasing due to rising awareness of global warming and the need to protect the environment. Eco-friendly fabrics are made from environmentally-friendly materials such as organic cotton, organic linen, Tencel and recycled materials. Growth in the historic period resulted from growth in the apparel manufacturing industry, the increase in demand for knitted footwear, and technological advances in the industry. Factors that negatively affected growth in the historic period were the rise in cotton prices, uncertain apparel demand, and the rise in inventory levels. Going forward, growth in emerging markets, growing e-commerce, favorable government initiatives, and increasing applications of synthetic fibers will drive growth. Factors that could hinder the growth of the knitted fabrics market in the future include reductions in free trade and rising interest rates.
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