The global technical textiles market size
is projected to reach USD 195.36 Billion by 2026 attributed to the increasing
number of applications including construction and civil engineering, household
furnishings, and others. Technical textiles are materials that focus more on
performance rather than appearance and are currently in demand from multiple
industries. According to a recently published report by Fortune Business
Insights™ titled, “Technical Textiles Market Size, Share & Industry
Analysis, By Product Type (Agrotech, Buildtech, Clothtech, Geotech, Hometech,
Indutech, Medtech, Mobiltech, Packtech, Protech, Sporttech and Oekotech), By
Fiber Type (Natural Fiber and Synthetic Fiber), By Product Form (Fabric, Fiber,
and Yarn) and Regional Forecast, 2019-2026,”
What are the Report Highlights?
The report provides a comprehensive overview of the market and its
prime growth trajectories such as drivers, restraints, challenges, and upcoming
opportunities. It also discusses the details of the market segmentation based
on factors such as product type, product form, fiber type, and region. It also
provides insights into the market, major industry developments, and current
technical textiles market trends. Besides this, the report throws light on the
competitive landscape of the market, the list of players operating in it and
the major strategies adopted by them to gain a competitive edge in the market.
The report is available for sale on the company website.
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Increasing Demand for Advanced Technical Textiles for Household
Furnishing Applications will Drive Marketthe market value was USD
159.29 billion in 2018 and will rise at a CAGR of 2.7% during the forecast
period set from 2010 to 2026.
The increasing demand from applications such as cleaning and
conveying industrial equipment, agriculture and horticulture, environmental
protection, sport and leisure, household furnishing and coverings, packaging industry,
and personal protective equipment among others, serves as the key technical
textiles market growth driver. Besides this, the multi-dimensional properties
such as high versatility, strength, durability, and lightweight will also boost
the market. In addition to this, the high chemical, mechanical, and thermal
resistance properties of these textiles will aid in the expansion of the market
in the forecast period.
On the contrary, technical textiles are highly expensive as
compared to conventional textiles and this may pose a major threat to the
market size in the forecast period. This, coupled with the high cost of
manufacturing and the need for more skilled manpower may cause major hindrance
to the market in the long run. Nevertheless, the constantly evolving technology
and product innovations will also create lucrative growth opportunities for the
market in the coming years.
Asia Pacific will Dominate Market with Presence of Major
Geographically Asia Pacific held the largest technical textiles
market share with countries such as Japan, China and Japan emerging as the key
markets. This is further attributed to the abundant availability of raw
materials in the region and the favorable growth of textile end-use industries
such as packaging, automotive, construction, clothing, and others. In addition
to that, India is the fastest-growing market owing to increasing investment by
the national government to support the textile business. However, North America
witness significant growth and earned a revenue of $44.18 billion in 2018.
Growth in this region is attributed to the well-established industrial sector
and the presence of the largest import-export textile nation, namely, the U.S.
Intense Competition Witnessed Owing to Presence of Many Vendors
Players operating in the global technical textiles market are
investing massive amounts on the development of products with qualities such as
high durability, soft and dependable, to reach for the top position in the
market. Players are also adopting other strategies such as contracts and
agreements, company collaborations, mergers and acquisitions, and others to
attract high technical textiles market revenue in the forthcoming years.
List of Key Players of this Market include:
- DELCOTEX DELIUS
TECHTEX GMBH & CO. KG
- TenCate Fabrics
- Arrow Technical
Textiles Private Limited
- SKAPS Industries
- SRF Limited
- DuPont de
- Strata Geosystems
- Terram (Berry
- Johns Manville
- PPSS Group
- Asahi Kasei
- HUESKER Group
- Milliken &
- Other Vendors
Significant Industry Developments of the Technical Textiles Market
February 2020 – The company manufacturing advanced
textile called Quantum Materials invested USD 3.5 million to expand its
production in the U.S by manufacturing high quality woven textile solutions.
March 2020 – PPSS Group launched its latest black
version of Cut- Tex Pro fabric, the soft, dependable, and durable cut
resistance fabric to be used as a workwear uniform in manufacturing industries.