Workers in the fabrics and textiles industry confirmed that the sector is growing by regarding 6% annually despite the high prices of materials and the loss of the Russian and Ukrainian markets due to the war.
The global textile market is expected to grow by 9% to $578 billion this year.
This is despite the challenges faced by the sector in the form of disruptions to supply chains due to Covid and the Russian-Ukrainian war.
The global textile market is expected to grow to $722 billion in 2026, with an annual growth rate of 5.70%.
These numbers came with the support of e-commerce, which opened new doors for new producers from China, India and the region.
And while the sales of some producers were affected by the Russian-Ukrainian war, others found a way to benefit from it.
In the Gulf, the textile industry is expected to grow by 4% over the next five years.
The UAE has a large textile industry that comes following oil in terms of income and employment, as it manufactures and exports products such as baby seats, curtains, luggage and some luxury fashion to more than 50 countries.
Recycled textiles are becoming more and more popular to achieve sustainability. It is estimated that 20% of wastewater pollution results from the dyeing and treatment of textiles.
The global market size for recycled textiles is estimated at $6.4 billion and is expected to grow by 6% to reach $8.6 billion by 2027.