The world textile industry is divided into various segments, and home textiles are a considerably big segment in this industry. Home textiles are way lot different from the textile used in garments. They are made up of special fabrics and materials, and serve an entirely different purpose. It comprises of textiles that can be used at home like carpets, table mats, curtains, bed sheets, and various others. The global home textiles industry is worth billions and billions of US dollars, at present. With demand increasing in the global arena, its market is growing by 9 percent (Compound Annual Growth Rate) CAGR and is expected to reach a $400 billion mark by the year 2020.
The market is divided into various categories, and classifying the products according to the spending habits of consumers is just one out of the many. USA is the biggest market for home textiles in the world, and has a value of over $60 billion. China is the biggest exporter of home textiles in the global home textiles industry. The high quality products, which do not take price into consideration, are traded in the niche market; and economy products, with average quality, are traded in the mass market. There is a vast difference between the two in the global textile industry.
Home textiles for mass market
China leads the world in the production of home textiles for the mass market. The industrial output for home textiles by China was 226.4 billion Renminbi during the period January, 2012 to November, 2012. It is seeing a growth of 14 percent year-on-year since the last 10 years. It majorly exports home textiles to the emerging economies like India, Russia, Brazil, and the ASEAN countries. These countries have a rapidly growing Gross Domestic Product (GDP), and their standard of living is improving continuously. They have a huge market for home textiles, and China can supply good quality home textiles for a cheaper price.
The country exported home textiles worth US$ 33.3 billion during the period January, 2012 to November, 2012. China saw the export growth of home textiles increasing by a rate of 6 percent year-on-year. Its exports to Brazil, Russia, and India rose by 19.5 percent in the period from January, 2012 to November, 2012, and during the same period its exports to ASEAN countries rose by 18.8 percent. Home textiles exported to these countries are low priced items to a large extent, and give a low profit margin to the traders in China. However, it cannot be denied that this industry has remained successful in creating employment opportunities in the country.