NAICS 314 - Textile Product Mills
Industries in the Textile Product Mills subsector group establishments that make textile products (except apparel). With a few exceptions, processes used in these industries are generally cut and sew (i.e., purchasing fabric and cutting and sewing to make nonapparel textile products, such as sheets and towels).
Industry trends:
The textile product mills industry (NAICS 314) is currently experiencing several transformative trends. A significant shift is towards sustainability, driven by increasing consumer demand for eco-friendly products. This includes a preference for recycled materials and sustainable production processes, pushing companies to innovate in terms of material sourcing and waste reduction. The usage of organic fibers and non-toxic dyes is expected to rise, as consumers become more environmentally conscious.
Another trend is digital transformation, where companies are leveraging advanced technologies like AI and IoT to enhance operational efficiency and product quality. This involves the implementation of smart manufacturing processes and real-time inventory management to meet the growing expectation for speed and customization in production.
There’s also a noticeable movement towards localism and reshoring, with firms considering moving production closer to end markets to reduce transportation costs and improve supply chain resilience. This is partly in response to disruptions caused by global events, which have underscored the risks of extended supply chains.
Looking to the future, the textile product mills industry is likely to continue focusing on innovation and sustainability to stay competitive. The integration of technology will likely increase, with more emphasis on advanced data analytics to optimize production processes and meet evolving consumer demands. Additionally, as sustainability becomes more deeply ingrained in consumer values, the demand for transparency in sourcing and manufacturing practices is expected to rise, driving companies to offer greater insight into their supply chains and production methods.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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