Thailand Textile Market Size (2024 - 2029)

The Thailand textile industry, a significant contributor to the country's GDP and export revenue, has faced challenges due to the COVID-19 pandemic, which led to a decline in market size and revenue. Despite these setbacks, the industry remains expansive, with a strong presence in garment and textile production, particularly in home textiles and eco-friendly services. However, domestic demand is limited by lower purchasing power, prompting companies to seek foreign markets. The industry also contends with a shortage of raw materials, which could impact its competitive edge compared to larger producers like China and India.

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Market Size of Thailand Textile Industry

thailand textile market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 0.70 %

Major Players

thailand textile industry

*Disclaimer: Major Players sorted in no particular order

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Thailand Textile Market Analysis

Owing to the ongoing COVID-19 pandemic has hit the textile industry which resulted in a downtrend of revenues recorded from the textile industry during 2020. The textile industry incurred a loss of more than TBH 150 billion and half the companies in the textile and related industry have experienced shut down, leaving more people unemployed. The pandemic's impact on the economy is continuing in 2021 as well, which resulted in the Bank of Thailand revised the economic growth forecast in 2021 down from 3.6% to 3.2% due mainly to a second wave of the virus in Thailand in December 2020 and the prolonged outbreak of COVID-19 abroad.

Thailand's textile industry is a major non-western entity that constitutes more than 2,000 garment companies and an almost equal number of textile firms, most of which are located around Bangkok and eastern Thailand. The textile and apparel industry of the country plays a key role in the country's GDP and export revenue. The textile industry in the country is quite expansive in nature, with a greater level of proficiency in the production, design, and sale of home textiles. It is a world-renowned silk producer, which also manufactures spin or twists yarn. It is also excelling in the latest trend of eco-friendly finishing, dyeing, and printing services, which meet global standards, although it has to deal with some issues.

Domestic consumer demand is lower in the Thai textile and garments industry, due to lower purchasing power, which is compelling the players to scour foreign markets to sell their textile and apparel products. Also, the textile industry in the country faces a shortage of raw materials. For instance, it produces hardly 2% of the raw cotton that is in demand for its cotton fabric manufacturing. This may hinder the newer market opportunities as compared with China and India. Currently, the garment industry supports more than 1 million employees, while the textile industry employs about 200,000 people, making these two industries the second most important employment sector in the country.

Thailand Textile Industry Segmentation

The report aims to provide a detailed analysis of Thailand textile industry. It focuses on market dynamics, technological trends, and insights on the geographical segments and the process, material, and application types. Also, it analyses the major players and the competitive landscape in the global textile industry. By Application Type, the Textile Industry in Thailand is Segmented into Clothing Application, Industrial/Technical Application, and Household Application, by Material into Cotton, Jute, Silk, Synthetics, and Wool, and by Process into Woven and Non-woven. The report offers market size and forecasts for the Thailand textile industry in Value (USD million) for all the above segments.

By Application
Clothing Application
Industrial/Technical Application
Household Application
By Material Type
Cotton
Jute
Silk
Synthetics
Wool
Other Material Types
By Process
Woven
Non-woven
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Thailand Textile Market Size Summary

The textile industry in Thailand is a significant contributor to the country's economy, encompassing over two thousand garment companies and an equal number of textile firms, primarily located in Bangkok and eastern Thailand. This sector plays a crucial role in the nation's GDP and export revenue, with Thailand being a renowned producer of silk and home textiles. Despite its expansive nature and proficiency in production, design, and eco-friendly practices, the industry faces challenges such as lower domestic consumer demand due to reduced purchasing power and a shortage of raw materials, particularly cotton. These factors compel industry players to focus on foreign markets for sales, as domestic demand remains subdued. The garment industry alone supports over a million employees, while the textile sector employs around two hundred thousand, making them vital to the country's employment landscape.

The non-woven materials segment within the textile industry is expected to experience significant growth, driven by its diverse applications in sectors like automotive and healthcare. The lightweight and durable properties of non-woven materials make them suitable for various uses, particularly in vehicle components and medical applications. Thailand's textile industry is also expanding its global footprint, with exports to countries such as the United States, Japan, and China. The government, in collaboration with the private sector, is focusing on modernizing technology and enhancing skills within the industry to improve efficiency and competitiveness. However, the sector faces stiff competition from low-cost manufacturing countries like Bangladesh and Vietnam, necessitating a shift towards innovative, high-value products to maintain its market position.

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Thailand Textile Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints/Challenges

    4. 1.4 Market Opportunities

    5. 1.5 Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

    7. 1.7 Technological Innovation in the Industry

    8. 1.8 Impact of COVID-19 on the Textile Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Clothing Application

      2. 2.1.2 Industrial/Technical Application

      3. 2.1.3 Household Application

    2. 2.2 By Material Type

      1. 2.2.1 Cotton

      2. 2.2.2 Jute

      3. 2.2.3 Silk

      4. 2.2.4 Synthetics

      5. 2.2.5 Wool

      6. 2.2.6 Other Material Types

    3. 2.3 By Process

      1. 2.3.1 Woven

      2. 2.3.2 Non-woven

Thailand Textile Market Size FAQs

The Thailand Textile Market is projected to register a CAGR of greater than 0.7% during the forecast period (2024-2029)

Thai Textile Industry Public Company Limited, Thai Toray Textile Mills Public Company Ltd, Textile Prestige Public Company Limited, Thanulux Public Company Limited and Luckytex (Thailand) Public Company Limited are the major companies operating in the Thailand Textile Market.

Thailand Textile Market Report Snapshots

Thailand Textile Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)