The number of high-growth enterprises in textile finishing in Turkey showed significant fluctuations over the past decade. From a peak in 2014, the numbers declined steadily until a sharp drop in 2020. Despite a rebound to 140 units in 2023, the overall trend indicates a negative CAGR of -2.88% over the past five years. Forecasts imply a further decline, with an average annual decrease of -1.21% projected through to 2028.
Key points to observe include:
- Sharp decline in 2020 followed by gradual recovery
- Slight growth from 2021 to 2023
- Projected continuous decline from 2024 onwards
Future trends to watch for:
- Pace of technology adoption and its influence on enterprise growth
- Environmental regulations impacting the textile finishing industry
- Global economic conditions and their effects on Turkey's textile sector
