The global high-performance textile market, valued at an estimated $11.43 billion in 2023, is projected to reach $24.70 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 10.37% between 2024 and 2031, according to a new report by InsightAce Analytic.
Driving forces in the high-performance textile market include:
- Increasing demand for advanced materials in sports and outdoor apparel
- Growing awareness of sustainability
- Rising adoption of smart textiles in various industries
Key factors restraining the market’s expansion are:
- Escalating raw material costs
- Stringent regulatory standards
- Limited consumer awareness
Future opportunities for growth include:
- Technical textiles for industrial applications
- Smart textiles and wearables
- Growing demand for high-performance fibers
The high-performance textile market is characterized by the production of advanced fabrics with enhanced properties like durability, strength, and resistance to external factors, making them suitable for industries like aerospace, automotive, sports, and the military.
Key players in the high-performance textile market include:
- Arville
- Asahi Kasei Corporation
- Avient Corporation
- Baltex
- DuPont
- Freudenberg Performance Materials
- Hexcel Corporation
- High-Performance Textiles Pvt. Ltd.
- Huvis Corp.
- Kernel
- Kolon Industries, Inc.
- Mitsui Chemicals, Inc.
- Performance Textiles
- Porcher Industries
- Toray Industries, Inc.
- Cass Materials
- Crosslink Composites, Inc.
- Fabiosys Innovations
- High Performance Textiles GmbH
- Spintex Engineering Ltd.
Recent developments in the market include:
- September 2017: Asahi Kasei Fibers & Textiles expanded its production capacity for Lamous, a high-quality microfiber suede used in furniture, automotive interiors, IT accessories, apparel, and industrial materials.
- May 2017: Kimberly-Clark launched Kleenex Ultra Soft Go-Anywhere tissue and Kleenex Multicare tissue, larger and stronger tissues in the facial tissue category.
- June 2017: Freudenberg & Co. Kg launched Evolon® New Generation, improving the product’s resistance to mechanical stress, abrasion, and repeated washing.
Market Dynamics:
- Driver: The rising adoption of smart textiles in healthcare, sports, and military sectors enhances performance, monitors health metrics, and provides interactive features.
- Challenge: Limited consumer awareness of the superior qualities, durability, and innovative features of high-performance textiles hinders market growth.
North America is expected to experience the highest CAGR during the forecast period due to innovation, technological advancements, stringent safety regulations, and a growing awareness of sustainable practices. The United States and Canada are key players, with a focus on protective clothing, aerospace, and sports equipment applications.
The high-performance textile market is segmented by:
- Fiber: Aramid Fiber, Carbon Fiber, Glass Fiber, High Strength Polyethylene Fiber, Aromatic Polyester Fiber, Others
- Technology: Woven, Non-woven, Knitting, 3D
- End-User: Aerospace and Defense, Automotive and Transportation, Sports, Energy, Chemical, Other
- Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa