Latin America Textile Market Size (2024 - 2029)

Latin American Textiles Market Analysis

The Latin America Textile Market size is estimated at USD 35.17 billion in 2024, and is expected to reach USD 44.18 billion by 2029, growing at a CAGR of 4.67% during the forecast period (2024-2029).

The COVID-19 pandemic, which has caused major disruptions to the international trade flows and global economy, has resulted in a sudden drop in textile productivity in the Latin American region. The pandemic has largely impacted the region. The Mexican textile and clothing market, which is one of the top markets in the region, has been operating the entire supply chain from cotton and other man-made fiber production. Mexico being one of the key suppliers of textiles and clothing to the United States, which sends a large proportion of its textile and related product exports to the United States, has been facing difficulties in manufacturing due to the lockdown and other safety measures. The situation is expected to get back to the pre-COVID-19 scenario slowly, yet the market is anticipated to register a slow growth rate during the forecast period.

Latin America is home to some major textile-producing nations, such as Peru, Brazil, and Colombia. Peru is South America's biggest clothing exporter, and it boasts of unique domestic raw materials, especially alpaca fiber and Tangüis cotton. Brazil, a BRIC country, has enormous growth potential in both its textile supply chains, natural fibers and man-made fibers. Colombia is also expected to witness great opportunities in the textile and fashion market. Meanwhile, the CAFTA-DR countries - Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua - are eagerly competing among themselves and against Haiti for niches in the US market.

Latin American Textiles Industry Segmentation

This report aims to provide a detailed analysis of the textile market in Latin America. It focuses on the market dynamics, technological trends, and insights into various materials, applications, and process types. It also analyzes the major players and the competitive landscape in the Latin American textile market. The Latin American textile market is segmented by application type (clothing, industrial/technical applications, and household applications), material (cotton, jute, silk, synthetics, and wool), and process (woven and non-woven). The report offers market size and forecasts for the Latin American textile market in value (USD million) for all the above segments.