The report “Technical Textile Market by Material (Natural Fiber, Synthetic Polymer, Metal, Mineral, Regenerated Fiber), by Process (Woven, Knitted, Non-woven), by Application (Mobiltech, Indutech, Protech, Buildtech, Packtech), and Region – Global Forecast to 2025”, The global technical textile market size is projected to grow from USD 164.6 billion in 2020 to USD 222.4 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market has grown exponentially in the last few years, and this trend is projected to continue. The growing awareness about the superior functionality and application of technical textiles encourages the higher consumption of technical textiles and related products. Furthermore, growth in the automobile, construction, healthcare, packaging, and various other sectors has generated new opportunities for technical textiles.
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• 200 Market data Tables
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• 248 Pages and in-depth TOC on “Technical Textile Market – Global Forecast to 2025”
Some of the prominent key players are:
· Asahi Kasei (Japan)
· Kimberly Clarke (US)
· Berry Global Group (US)
· DuPont (US)
· Mitsui Chemicals (Japan)
· Freudenberg & Co. (Germany)
· Low & Bonar (UK)
Opportunity: Proliferation of new technologies
With the technological enhancement, the textile industry has witnessed high growth in most of its product segments, especially for technical textiles. New technologies are expected to bring down the production cost, thus making manufacturing of technical textile commercially feasible. The improved technologies in spinning, weaving & knitting segment, such as melt spinning, thermo-forming, and three dimensional weaving & knitting wet spinning, have made it possible to produce technical textiles fibers with functional properties required for technical textiles. The production of high performance fibers is largely grounded in technologically advanced countries such as the US, Japan, Canada, and some European countries and is progressing in developing countries such as India, China, and Korea.
By Material, natural fiber account for highest CAGR during the forecast period.
Natural fibers are derived from natural sources, such as plants, mineral sources, and animals. These natural fibers can be turned into thread and rope through processes, such as weaving, knitting, matting, or bounding. Natural fibers consist of cotton, jute, coir, silk, sisal, wool, and flax. They are used in the manufacturing of technical textiles for applications, such as buildtech, packtech, mobiltech, meditech, sportech, hometech, indutech, and clothtech.
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Asia Pacific accounts for highest CAGR by value and volume during forecast period.
The APAC region is projected to be the fastest-growing market for technical textile due to developments such as the government expenditure on infrastructure, improving health and concern for safety, increasing awareness regarding the benefits offered by technical textile products, and rapid urbanization in this region. The APAC comprises emerging economies such as China, India, South Korea, Vietnam, and Thailand. These countries have witnessed tremendous growth in the automobile, aerospace, healthcare, agriculture, infrastructure, and packaging sectors due to the increasing demand from the urban population. China and India are projected to be the fastest-growing countries in this region due to the investments of global technical textile manufacturers in these countries. The labor and operational costs, and rapid technological advancements in these countries also drive the growth of the technical textile market.
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