Report Ocean has recently published the “Technical Textile Market “ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
The global technical textile market was valued at $234,715 million in 2017, and is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. A technical textile is a type of material, which is developed to meet the specified high-performance needs of a particular application. In addition to their aesthetic characteristics, technical textile products and materials possess enhanced mechanical, electrical, durable, thermal, and functional properties which makes them usable in various end-use industries such as automotive, construction, industrial, medical and others.
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The global technical textile market is witnessing significant growth, owing to extensive applications of technical textiles across various end-use industries such as agriculture, clothing, packaging & furnishing, automobiles, filtration, construction, and environmental protection. The technical textile market is expected to grow at a significant rate during the forecast period, due to rise in demand for technical textile products across many countries. In addition, in the emerging economies, majority of the consumption of the technical textiles will be through imports, while some countries have their own production facilities.
The growth of the global technical textile market is driven by increase in production of automobiles, rise in construction activities, and upsurge in demand from the healthcare sector. Moreover, the market is expected to experience considerable growth with government legislations mandating the use of geosynthetic textiles in various infrastructure development projects.
Furthermore, increase in urbanization & industrialization, rise in income levels, expansion of production base, growth in middle class population, and surge in aging population are the macroeconomic factors that boost the market growth. However, protection policies such as high tariffs limit the demand for technical textile products to be exported. In addition, with high cost of raw materials and finished products, the pricing structure is affected, and is likely to remain a key challenge for market participants. Conversely, the emergence of new technologies such as e-textile, increase in importance for geotextiles, and development of the manufacturing sector are expected to provide an ample of opportunities for the product manufacturers during the projected period.
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The global technical textile market is segmented based on type, material type, end-use application, and region. On the basis of type, the market is divided into woven, nonwoven, and others (weaving, knitting, and braiding). By material type, it is bifurcated into uniform and composite. Depending on end-use application, it is fragmented into the following sectors, namely, AgroTech, BuildTech, ClothTech, GeoTech, HomeTech, InduTech, MediTech, MobilTech, OekoTech, PackTech, ProTech, and SportTech. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players includeDowDuPont, Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindoostan Mills. The other players operating in the global technical textile market are Low & Bonar, Lanxess, and Berry Global Group. Ahlstrom Corporation acquired Munksjo in November 2016 to expand its business in the technical textile market.
Key Benefits for Technical Textile Market:
The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global technical textile market from 2017 to 2025 to determine the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the global technical textile market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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