The study by Dublin-headquartered market research firm Fact.MR, titled ‘Knitted Fabrics Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027’, highlights the market structure, recent competitive developments, key financials as well as financial share analysis of the leading stakeholders existing in the knitted fabrics market.
The study projects a 5.3 per cent volume compound annual growth rate of the sector from 2018 to 2027.
The key players are launching high-quality products with the help of next-generation manufacturing technologies to shift the dynamics of the knitted fabrics market.
The demand for weft-knitted fabrics would continue to remain higher as a result of low cost and flexibility. Since weft-knitted fabrics require only single yarn feed, it supports the end-user from the textile industry to reduce the raw material input supplies as well as processing steps required for the manufacturing of knitwear apparels, the study finds.
Weft-knitted fabrics have 64 per cent share in the global sales for knitted fabrics.
The Asia Pacific region excluding Japan (APEJ) possessed close to 70 per cent volume share in the global market for knitted fabrics during 2018. The study forecasts that the knitted fabrics sales from the APEJ region would touch a mark of 35,000 tonnes by the end of 2019.
China carries the mantle of managing a monstrous 61 per cent share in the global sales of knitted fabrics, the study adds.