Industry Analysis & Industry Trends
US textile mills have taken a sharp hit from overseas production. As manufacturers aim to reduce costs, they will continue to move to low-cost countries like China and India in order to remain profitable. In accordance with this move, the domestic industry will suffer, with revenue and the number of establishments consistently falling. To remain competitive, domestic companies will focus on non-woven fabrics and specialized markets... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Textile Mills industry is in a stage of decline. Industry value added (IVA), which measures the industry's contribution to the US economy, is anticipated to decline at an average annual rate of 5.5% over the 10 years to 2017. By contrast, US GDP is forecast to grow an average of 2.1% per year during the period.
The main reason for the decline is the growing trend of manufacturer offshoring. Textile mills and downstream apparel manufacturers and fabric finishers are moving operations to low-cost countries like China and India to gain wider profit margins by saving on labor costs. This trend has caused the domestic market for textiles to shrink because most buyers are now located overseas... purchase to read more