Expanding Applications & Development of New and Improved Products to Drive the Global Technical Textiles Market
The
global Technical Textiles market is projected to reach US$223.8 billion by 2025,
driven by expanding range of applications and development of new and advanced
technical textiles. Textile industry
dynamics around the world have been significantly influenced by the
globalization of business activities and the outsourcing phenomenon. The
growing need to improve effectiveness and enhance efficiency of the textile
industry operations has led to the development of new and more effective
textiles including technical textiles. The superior functional characteristics
and technical performance offered by the product are enabling technical
textiles to gain prominence in the overall textiles industry. Technical
textiles are textiles with functionalities such as filtration, resistance,
conductivity, flexibility, strength, lightness and reinforcement among others. The
superior strength, weatherability, durability, technical performance and
versatility of technical textiles compared to traditional textiles make them
suitable for use in several domestic, commercial and industrial applications. The
unrelenting focus of the textile industry on committing resources and time for
identifying areas requiring improvements in technical textile market are also
driving sector growth.
The global market for technical textiles is strongly
influenced by expanding applications in a range of end-use sectors, steady pace
of technology advancements, and stable economic environment. The burgeoning
application possibilities for technical textiles have led to strong growth in
the technical textiles market. Rapid growth of automotive industry in emerging
economies and the growing use of technical textiles in construction industry
applications are expected to stimulate technical textiles market in the coming
years. Rising demand for geotextiles,
increasing demand for nonwoven technical textiles and the growing use of
technical textiles in electronics industry also augur well for the market’s
growth. Also driving growth will be the strong demand emanating from hometech
and mobiltech
sectors. Future growth for the market will stem from the advent of new
technical textiles, which on the basis of their varying grades of versatility
and strength would allow customization of production processes and changes in
material concentrations making them more application specific.
As stated by the new market research report on Technical
Textiles, Asia-Pacific represents the largest market worldwide. The region is
also forecast to register the fastest CAGR of 7.8% over the analysis period.
The increasing awareness about technical textiles, rising disposable incomes of
people and growing demand for wearable technology are driving growth in the
region’s technical textiles market. Rapid developments across key end-use markets
of agriculture, automotive, healthcare, defense, protective textiles, and
infrastructure development are fostering demand for technical textiles. Robust
industrial activity, technology advancements, and favorable government policies
are fueling growth, especially in countries such as China and India.
Major players in the market include 3M Company, Agru
America Inc., Ahlstrom-Munksjö Oyj, Asahi Kasei Corporation, Belton Industries
Inc., Berry Global Group, Borgers SE & Co. KGaA, Delfingen Industry S.A,
DowDuPont, DSM Dyneema BV, Elevate Textiles Inc., Fibertex Nonwovens A/S,
Freudenberg SE, Global Synthetics Pty. Ltd., Hanes Geo Components, Hindoostan
Mills Ltd., Huesker Synthetic GmbH, Johns Manville, Kimberly-Clark Corporation,
Lenzing Plastics GmbH & Co KG, Low & Bonar PLC, Milliken & Company,
NAUE GmbH & Co. KG, Officine Maccaferri S.p.A., Propex Operating Company
LLC, Royal Ten Cate, SGL Carbon, SKAPS Industries, Solmax, SRF Limited, Strata
Systems Inc., Techfab India, Teijin Limited, Thrace Group, and TWE Group GmbH, among
others.
The research report titled “Technical
Textiles – Market Analysis, Trends, and Forecasts” 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),
Asia-Pacific (China, India and Rest of Asia-Pacific) and Rest of World. The
global market for Textile Textiles is analyzed by the following applications – Mobile
Textiles, Medical Textiles, Industrial Textiles, Sports Textiles, Construction
Textiles, Residential Textiles, Clothing Textiles, Agro Textiles and Others.
Global Industry
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