In a groundbreaking report released today by Reports and Data, the global market for technical textiles is projected to exceed an astonishing valuation of USD 307.63 billion by 2032. These versatile fabrics, known for their enhanced properties compared to traditional textiles, are experiencing an unprecedented surge in demand across industries such as construction, home textiles, automobiles, and medical applications.
The construction and automotive sectors have emerged as the primary drivers of this booming demand for technical textiles. These industries require specialized products, including insulating materials, rubber, floor coverings, and protective gear, among others. Notably, the geotextiles segment has experienced a remarkable upswing, contributing significantly to the overall growth of the technical fibers economy. It is worth mentioning that although technical textiles generate some waste, their recyclability remains an advantage in an increasingly eco-conscious world. However, the high cost of finished goods and raw materials poses a significant challenge to the market’s expansion.
Despite these obstacles, the technical textile industry presents numerous opportunities for growth. Continuous advancements and innovations have resulted in improved efficiency and functionality of these textiles. Europe, in particular, is witnessing a remarkable shift in the textile market, with applications in mobile technology, eco-technology, and other technical textile sectors. The utilization of technical textiles in the medical industry is also propelling the growth of the European market, with Germany leading the region’s technical textile production, accounting for an impressive 50% of its output.
Key findings from the report highlight the significance of natural fibers, which held a market share of 26.2% in 2018. These fibers, with their smaller carbon footprint, serve as essential raw materials for the technical industry and offer advantages such as easy degradation by microorganisms, compostability, and support for organic farming. Furthermore, woven textiles, with a dominant market share of 35.6% in 2018, find extensive applications in construction, clothing, automobiles, and various other industries. In the medical sector, woven textiles are preferred for their breathability, lightness, and comfort, making them ideal for surgical gowns.
The report also predicts that the Mobiltech segment will exhibit the highest compound annual growth rate (CAGR) of 8.9%. This surge is primarily driven by the increasing demand for automobiles, spurred by rapid urbanization. Mobiltech textiles play a crucial role in the manufacturing of car seats, door panels, carpets, and ceilings. Additionally, the Asia Pacific region is expected to witness the highest CAGR of 5.9% during the forecast period, with countries like India, China, and Japan rapidly adopting the use of technical textiles, primarily in the automobile sector. These textiles find applications in the production of tire cords, seat belts, and various other automotive components.
Leading participants in the global technical textile market, including Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, Koninklijke Ten Cate, International Textile Group, Toyobo Co., SRF Limited, Lanxess, and DuPont, among others, are actively involved in research and development endeavors to further enhance the performance and functionality of technical textiles.
The projected growth of the global technical textile market signifies the increasing importance of these functional fabrics across diverse industries. With continuous advancements and innovation, technical textiles are expected to play a crucial role in shaping the future of various sectors, driving efficiency, sustainability, and performance to new heights.