Global Business Enterprise R&D Expenditure in Manufacture of Textiles, Wearing Apparel, Leather and Related Products by Country

In 2023, China leads the global R&D expenditure in textiles and related industries with $10.96 billion, showing a 2.15% year-on-year growth. Japan, Italy, and the United States follow, with Italy experiencing the highest growth of 4.08%. South Korea and Canada also recorded notable increases of 4.05% and 5.98% respectively. On the contrary, Taiwan and Mexico saw declines. Remarkably, Germany and Hungary stand out with significant growth rates of 7.09% and 24.07%. The five-year CAGR highlights consistent growth across several countries, particularly Iceland with a 32.7% year-on-year increase, despite its smaller base.

Future trends to watch include increased investment in sustainable textile innovations and digitalization in manufacturing processes. China is likely to continue leading this sector, while European countries may focus more on sustainable practices due to regulatory pressures. Emerging economies might boost their R&D to gain competitive advantages.