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 sector, classified under NAICS 314, is experiencing notable qualitative trends fueled by technological innovation, sustainability focus, and shifting consumer preferences. A significant trend is the increasing adoption of smart textiles, which integrate electronic components to provide added functionality, such as temperature regulation and health monitoring. This innovation is expected to open up new market segments and applications, particularly in healthcare and wearable tech.
Another prominent trend is the growing emphasis on sustainability and circular economy principles. Consumers are increasingly demanding eco-friendly products, pushing manufacturers to invest in sustainable raw materials, such as organic cotton and recycled fibers, and adopt environmentally friendly production processes. Companies that invest in green technologies and transparent supply chains are likely to gain a competitive edge.
Customization and personalization are also gaining traction as consumers seek unique products that reflect their individual tastes. Technological advancements in digital printing and on-demand manufacturing are making it easier and more cost-effective for companies to offer customized solutions.
Looking ahead, the textile product mills sector is expected to continue its transformation with an increased focus on innovation and sustainability. Companies that can pivot to accommodate these trends, while also leveraging digital tools to streamline operations and enhance customer engagement, are likely to experience growth and resilience in the market.
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
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.