The gross output of the US Textile Mills and Textile Product Mills Manufacturing Industry is projected to slightly decrease from \$53.74 billion in 2024 to \$52.52 billion in 2028. Year-on-year variation shows a consistent decline of around 0.58% each year from 2024 to 2028. The compound annual growth rate (CAGR) indicates an average annual decrease of nearly 0.59% over this five-year period. As of 2023, the industry's gross output was stagnant before this projected downturn.
Future trends to watch for include:
- Emerging sustainable textile technologies and their impact on production costs.
- Potential shifts in global trade policies affecting export and import dynamics.
- Innovations in smart fabrics and integration of textiles with technology.
