NAICS 31324 - Knit Fabric Mills
This industry comprises establishments primarily engaged in one of the following: (1) knitting weft (i.e., circular) and warp (i.e., flat) fabric; (2) knitting and finishing weft and warp fabric; (3) manufacturing lace; or (4) manufacturing, dyeing, and finishing lace and lace goods. Establishments in this industry may knit only; knit and finish; or knit, finish, and further fabricate fabric products (except apparel).
Industry trends:
The Knit Fabric Mills industry (NAICS 31324) has been undergoing several qualitative trends influenced by technological advancements and shifting consumer preferences. One major trend is the integration of sustainable practices. Consumers and brands are increasingly prioritizing eco-friendly materials and production processes. This has led to a rise in the use of organic cotton, recycled fibers, and water-saving dyeing techniques.
Another significant trend is the adoption of advanced manufacturing technologies. Automation and digitalization in knitting processes are allowing for greater precision, efficiency, and customization. The use of 3D knitting machines and smart textiles, which integrate sensors and conductive fibers, is becoming more prominent, addressing demands for innovative and functional fabrics.
Customization and personalized products are also gaining ground. Customers are seeking unique and tailor-made designs, which has spurred mills to offer more bespoke services. This trend is closely tied to the rise of on-demand production, helping mills reduce waste and inventory costs.
Looking ahead, forecasts suggest that these trends will continue to shape the industry. The focus on sustainability is expected to grow, driven by regulatory pressures and consumer advocacy. Technological advancements will further revolutionize production methods, potentially reducing lead times and costs. Additionally, the growing adoption of e-commerce for fabric purchasing is anticipated to expand, facilitating direct-to-consumer sales and enhancing market accessibility.
This industry is comprised of:
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- Region
- Employees
- Net Sales
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- Total Assets
- Ownership Type
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