Industry Analysis & Industry Trends
This declining industry has significantly underperformed most other sectors of the economy, due to massive increases in competing imports from plant closures and downward pressure on pricing levels. In the next five years, operators will rely on new designs and niche markets to gain a competitive edge in the industry, and because most outsourcing has already occurred, future declines will be less drastic than those of the past five years... purchase to read more
Industry Report - Industry Analysis Chapter
The story of the Apparel Knitting Mills industry is similar to that of other textile-based industries in the United States. Mounting cheap imports from low labor-cost countries, coupled with low demand for discretionary items like clothing during the recession, have stifled any opportunities for domestic knitting companies. The five years to 2012 have been exceptionally bad, with revenue declining an average 17.0% per year. In 2008 and 2009, as the recession took hold of the economy, the industry experienced severe double-digit revenue declines. 2012 will likely offer no relief; IBISWorld expects revenue to fall an additional 5.9% to $528.5 million for the year.
The typical operator produces a very small amount of its knit apparel domestically... purchase to read more