The Global Market for Technical Textiles is Projected to Reach US$168.3 Billion by 2020

Robust Demand from Construction & Automotive Sectors Drives the Global Technical Textiles Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Technical Textiles. The global market for Technical Textiles is projected to reach US$168.3 billion by 2020, driven by robust demand from the construction and automotive sectors.

Technical textiles are advanced textiles known for their excellent functional properties and technical performance. An exciting multidisciplinary field with exhaustive applications in various industries, technical textiles is poised to witness strong growth. Supported by superior performance attributes, applications of technical textiles are far reaching, ranging from simple use in agriculture, furnishing, packaging and clothing to the more complicated filtration, construction, medical, automotive, and environmental protection applications. Robust growth in construction and infrastructure projects, increasing automobile production, and rising demand from the healthcare sector, represent key factors driving growth in the market. Growth prospects also emerge from government regulations mandating the use of technical textiles such as geosynthetics in all infrastructure development projects. Rising income levels, rapid urbanization, strong industrialization, expanding manufacturing base, growing middle class population, and aging population are other macro factors that bode well for the growth of technical textiles.

Continuous research and development, as a result of increased focus of manufacturers and researchers alike in bringing innovative products to the market, is poised to propel growth in the future. Advanced technological breakthroughs in textile technologies used in medical applications have expanded the application scope from simple wound-dressing products to sophisticated products used in surgeries and diagnostics. Nanotechnology is an emerging production technology for technical textiles. Driven by strong research and development, nanotechnology is expected to overtake current knitting, weaving and thermoforming technologies. Another major trend positively impacting the market is the migration of production technologies towards technical textiles, given the increased margin of returns on investments.

As stated by the new market research report on Technical Textiles, Asia-Pacific represents the largest as well as the fastest growing market with a CAGR of 6.9% over the analysis period. Strong demand from manufacturing, industrial, automotive and construction sectors; steady economic growth; favorable government policies; and numerous infrastructure development projects in the pipeline are factors spurring growth in the region. Mobile Textiles represents the largest market segment, while Construction Textiles is witnessing the fastest growth with a CAGR of 6.1% over the review period.

Major players in the market include 3M, Ahlstrom Corporation, Asahi Kasei Fibers Corporation, Borgers AG , Delfingen Industry S.A, DSM Dyneema BV , DuPont de Nemours & Co., Fibertex Nonwovens A/S, Freudenberg Nonwovens, GSE Environmental Inc., Hindoostan Technical Fabrics Limited, Huesker Synthetic GmbH, Johns Manville, Kimberly-Clark Corporation, Lenzing Plastics GmbH & Co KG, Low & Bonar PLC, NAUE Geosynthetics Limited, Officine Maccaferri S.p.A., Polymer Group Inc., Royal Ten Cate, SGL Group, Strata Systems Inc., Teijin Limited, and TWE Group GmbH, among others.

The research report titled “Technical Textiles: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets), Asia-Pacific (China, India and Rest of Asia-Pacific), and Rest of World.

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