Textile Furnishings Mills
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1,300 textile furnishings mills in the US manufacture non-apparel textile-based products, including floor coverings, window treatments, and household linens. Household linens include bedspreads, blankets, comforters, cushions, napkins, pillowcases, pillows, placemats, quilts, sheets, slipcovers, shower curtains, tablecloths, and towels. Customers include distributors and retailers. Carpet and rug mills also sell to builders, interior decorators, and designers.
The Fashion Element In Household Textiles
Fashion trends and fads have become a critical factor in driving demand for curtains, drapes and household linens.
Competition From Imports
Imports dominate the curtain, drape, and household linen categories, and account for about 84% of the US market.
Industry size & Structure
A typical carpet and rug mill employs 150 workers and generates about $45 million annually, while a typical curtain and linen mill employs about 18 workers and generates about $3 million annually.
- The textile furnishings mill industry includes about 1,300 companies which employ 47,000 workers and generate about $13 billion annually.
- While the curtain and drape mill industry is fragmented, the carpet and rug and household linen mill industries are concentrated.
- Large companies include Shaw (Berkshire Hathaway), Mohawk, WestPoint Home (Icahn Enterprises), and Springs Global US (Springs Global Participacoes).
Industry Forecast
Textile Furnishings Mills Industry Growth
Recent Developments
Nov 20, 2024 - Prices, Employment Down
- Producer prices for textile furnishing mills were down 1.8% in September 2024 compared to a year ago, according to the US Bureau of Labor Statistics (BLS). Employment by textile furnishings mills fell 5.1% in September year over year. Average wages for nonsupervisory employees were up 0.9% in October 2024, reaching $21.14 per hour, according to the BLS. Sales for textile mills and textile product mills were $7.8 billion in Q2 2024, a 20.7% decline year over year and a nearly 6% increase from the previous quarter, according to the US Census Bureau.
- A growing trend in home entertainment is boosting sales of table linens, according to a report by Circana in Home Textiles Today. A new Holiday Purchase Intentions report found that more US consumers are planning to host or visit friends and family this holiday season compared to last year. As a result, home textiles designed for dining settings are in higher demand. According to the report, tablecloths sales are up 9% in unit sales, kitchen chair pads are up 17%, and other table linens are up 24% year over year. Per Circana, “Combine this growing trend with the fact that many high-use entertaining products purchased early in the pandemic are hitting the replacement phase, and these categories are poised for growth.”
- US manufacturing activity contracted in October 2024, marking the lowest Manufacturing PMI registered in 2024, according to the Institute for Supply Management’s Manufacturing ISM Report on Business. The Manufacturing PMI registered 46.5% in October, down 0.7 percentage points from the 47.2% recorded in September. A reading above 50% indicates manufacturing expansion. Manufacturing industries reporting growth in October were Apparel, Leather & Allied Products; Food, Beverage & Tobacco Products; Petroleum & Coal Products; Computer & Electronic Products; and Miscellaneous Manufacturing.
- Floor coverings sales reached $34.1 billion in 2023, a 7.4% decline from 2022 as housing demand fell and discretionary spending decreased, according to recently released data from Catalina Research in Floor Covering Weekly. US floor covering square foot sales were 27.6 billion square feet in 2023, with nearly 40% of sales coming from carpet and area rugs and 30.9% from LVT. Square foot sales in 2023 fell 5.3% while average manufacturing selling prices were down 2.4% in 2023. Per the article, lower housing demand creates weaker floor covering spending because more than half of the market comes from homeowner and builder purchases. Catalina estimated that 2024 could be another down year for the US floor coverings industry due to continued weakness in the residential replacement market; dollar floor covering manufacturing sales are expected to decline 2% to $33.4 billion. Meanwhile, commercial market sales are expected to stay positive in 2024.
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