The global technical textile market is expected to experience significant growth in the coming years, according to a new report by Joseph Watson. The report offers an in-depth analysis of the market, providing valuable insights into the dynamics of the industry and the current market scenario. The report provides an assessment of the growth opportunities, challenges, and current market trends in the technical textile market.
Technical textiles are defined as textile materials and products used for their technical performance and functional properties, rather than their aesthetic or decorative characteristics. They are used in a wide range of applications, including automotive, construction, healthcare, protective clothing, and sports equipment.
According to the report, the global technical textile market is expected to grow at a CAGR of 4.6% during the forecast period of 2023 to 2030. The market is expected to reach USD 249.5 billion by 2030, up from USD 164.6 billion in 2023.
The report highlights several factors driving the growth of the global technical textile market. The increasing demand for technical textiles in various end-use industries, such as construction, automotive, and healthcare, is one of the key drivers of market growth. The growing need for protective clothing and equipment, particularly in the healthcare and industrial sectors, is also expected to boost market growth.
In addition, the report identifies several trends and opportunities in the global technical textile market. The growing adoption of sustainable and eco-friendly materials in the production of technical textiles is expected to create significant opportunities for market players. The increasing use of smart textiles, which are designed to respond to environmental changes or stimuli, is also expected to drive market growth in the coming years.
The report provides an in-depth study of the key market players, their product portfolio, their current share in the market, and their competitive strategies. Some of the key players operating in the global technical textile market include DuPont de Nemours, Inc., Ahlstrom-Munksjö, TWE Group, Freudenberg & Co. KG, and GKD Gebr. Kufferath AG.