Technical Textile Market Overview:
The global technical textile market size is expected to reach $244,032 million by 2022 from $158,429 million in 2015 with a CAGR of 6.4% from 2016 to 2022. Technical textiles are welfare textiles used for their diverse and multifunctional properties. They are manufactured for non-aesthetic purposes and offer several advantages in their functional aspect for improving health & safety. They have applications ranging from simple use in agriculture, clothing, packaging & furnishing to more complicated application in automotive, filtration, construction, and environmental protection.
The global technical textile market is driven by increasing demand for hometech textile and mobiltech textile. The application of technical textile in mobiltech segment is crucial, as it reduces the weight of vehicles by providing light advanced material that is strong and durable. Various components of automobiles such as seat upholstery, carpets, seat belts, headliners, tire cords, liners, composite reinforcements for automotive bodies, civil and military aircraft bodies, wings, and engine components are made up of technical textiles, owing to their light weight and high strength. The growing construction and housing activities in emerging economies such as India and China has fueled the growth of hometech textiles for household application. Moreover, government regulations mandating the use of geosynthesis in infrastructure development projects has paved the way for growing demand in the technical textile market.
The Asia-Pacific region generated the highest revenue in 2015, which is expected to grow at CAGR of 7.8% from 2016 to 2022. Asia-Pacific is expected to maintain its dominant position during the forecast period. Europe and North America are the second and third leading regions in the technical textile market respectively.
The global technical textile market is segmented based on type, end user industry, and geography. Based on type, the technical textile market is segmented into nonwoven, composites, and others (weaving, knitting and braiding). Based on end user industry, the technical textile industry is bifurcated agrotech, buildtech, clothtech, geotech, hometech, indutech, meditech, mobiltech, ecotech, packtech, protech, and sportech. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
LAMEA Regional Review:
LAMEA region witnessed overall growth in terms of adoption of technical textiles and is expected to expand at a CAGR of 6.8% from 2016 to 2022. Brazil is expected to witness growth in the technical textile market and presumed to be the market leader in this region. According to the Institute of Studies and Industrial Marketing of Brazil, it is the only South American country that holds a prominent position in global textile production. The Brazilian textile industry is constantly growing owing to the acquisition of modern equipment and technical development, which is further expected to drive the technical textile market during the forecast period.
Some of the major players include DuPont de Nemours & co., Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindustan Technical Fabrics Limited.
The other key market players (not profiled in the report) in the value chain include, Andritz Perfojet SAS, Southwest Nano Technologies Inc., Precot Meridian, Alexium International, Lenzing, Ontex, and Polymer Group Inc., Avintiv, Kusumgar Corporates, SRF Ltd., Ibena Textilewerke GmbH, Johnson & Johnson, SKAPS Industries, Kimberley Clark Corporation, Maccaferri, and Strata Geosystems Pvt. Ltd.
Key Benefits for Stakeholders:
The technical textile market research provides a quantitative and qualitative analysis of the current market trends, estimations, and dynamics through 2014-2022, which assist in identifying the prevailing market opportunities in different end user segment.
Market trends of major countries in each region are mapped according to forecasted market revenue.
Exhaustive analysis of the global technical textile market by type helps in understanding the various types of technical textile products that are currently being used along with the variants that would gain prominence in the future
Porter’s five forces analysis highlights the potency of buyers and suppliers participating in this market.
TECHNICAL TEXTILE MARKET KEY SEGMENTS
By End User Industry
Rest of Europe
Rest of Asia-Pacific