|Last Quarterly Update:||5/27/2013|
|NAICS Codes:||313, 314|
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Companies in this industry operate mills that produce textiles and textile products from natural and synthetic materials. Major companies include Guilford Mills, International Textile Group, Mohawk Industries, Unifi, and WL Gore & Associates, (all based in the US), along with Hyosung (South Korea), Toray Industries (Japan), and Weiqiao Textile (China).
Worldwide textile exports amount to about $300 billion annually, according to the World Trade Organization (WTO). China dominates the global industry; other major players include the European Union, the US, South Korea, and India.
The US textile manufacturing industry includes about 9,000 companies with combined annual sales of more than $50 billion and is expected to experience low growth in the next two years. Competition from other countries continues to challenge US textile manufacturers.
Demand is driven by the domestic apparel industry and consumer demand for home furnishings like carpets, furniture, and curtains. The profitability of individual companies depends on efficient operations. Large companies have economies of scale in production for high-volume items. Small companies can compete successfully by producing specialized textiles. The industry is concentrated: the 50 largest companies generate about 60 percent of revenue.
Exports represent more than 20 percent of US textile production. The main export destinations include Canada, Mexico, the UK, and Honduras. Many manufacturers ship fabric to other countries for sewing into final garments, which are then reimported into the US. Textile imports, which account ...
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