The global technical textile market size was USD 190 Billion in 2022 and is expected to reach USD 307.63 Billion in 2032, and register a revenue CAGR of 5.5% during the forecast period. The fast industrialization and urbanization, rising need for safety and protective apparel, and increasing use of technical textiles across a range of end-use industries including healthcare, automotive, and construction are major factors driving the market revenue growth.
Advancements in the technical textile market have enhanced the efficiency of technical textiles, creating opportunities for market growth. The European market is shifting towards the textile market due to the use of technical textiles in applications such as mobil tech and oeko tech. Germany is the largest market leader in Europe, producing 50% of the region’s technical textiles.
Technical Textile Market: Product development
Product development is a key driver of growth in the textile market. Companies in the industry are constantly investing in research and development to create new products that meet the evolving needs of customers in various sectors, such as construction, automotive, and medical. For instance, technical textiles are being developed with enhanced properties, such as fire resistance, waterproofing, and anti-microbial capabilities, to meet the growing demand for more durable and functional materials. Additionally, the development of new manufacturing techniques and technologies has enabled the production of technical textiles with improved quality and cost efficiency. For example, 3D weaving and printing have been used to create complex textile structures that were previously difficult to produce. As such, ongoing product development efforts in the technical textile industry are expected to continue driving growth and expanding the range of applications for these materials.
Get a sample copy of the technical textile market report: https://www.reportsanddata.com/download-free-sample/1943
The report's key findings indicate that natural fibers held a market share of 26.2% in 2018 and have a smaller carbon footprint, can be degraded by micro-organisms, and support organic farming. Woven textiles held the largest market share of 35.6% in 2018 and have applications in construction, clothing, automobiles, and medical industries. Mobiltech is forecasted to have the highest compound annual growth rate (CAGR) of 8.9% due to the high demand for cars because of urbanization. The Asia Pacific region is forecasted to have the highest CAGR of 5.9% during the forecast period, with India, China, and Japan catching up with the growth in the technical textile market. The key participants in the market include Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, Koninklijke Ten Cate, International Textile Group, Toyobo Co., SRF Limited, Lanxess, and DuPont among others.
The report has segmented the global technical textile market based on material type, process type, application, and region. Material types include natural fiber, synthetic polymer, regenerated fiber, mineral, metal, and specialty fiber. Process types include woven, non-woven, knitted, and others. Applications include mobitech, indutech, sporttech, buildtech, hometech, geotech, clothtech, and others. Regions include North America, Europe, Asia Pacific, MEA, and Latin America.
Technical Textile Market: Drive factors
The global textile market is expected to grow to USD 268.97 Billion by 2028, driven by factors such as increasing demand for technical textiles in various industries including construction, home textile, automobiles, and medical, due to their enhanced properties over conventional textiles. The market is also influenced by rising demand for insulating products, rubber, floor coverings, and protective gear from the construction and automotive sectors.
Geotextiles have seen a sudden rise in demand, further boosting the economy of technical fibers. However, the market is limited by the high cost of finished goods and raw materials, as well as the unfavorable effects of technical textiles.
Despite these limitations, consistent advancements in the technical textile market through innovative efforts have enhanced the efficiency of technical textiles. Europe's demographic shift towards the textile market, particularly in mobil tech and oeko tech, has resulted in a growing market, with Germany being considered as Europe’s largest market leader.
The report also identifies key findings such as natural fibers holding a market share of 26.2% in 2018 due to their essential raw material usage and eco-friendly properties. Woven process held the largest market share of 35.6% in 2018, with mobiltech being forecasted to grow with the highest CAGR of 8.9%. The Asia Pacific region is forecasted to grow with the highest CAGR of 5.9% during the forecast period due to increased demand in the automobile sector. Key participants in the market include Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, and DuPont among others.
Explore Trending Reports:
Structural Insulated Panels Market-https://bhagyashrishewale.blogspot.com/2023/05/structural-insulated-panels-market-is.html
Insulated Concrete Form (ICF) Market-https://bhagyashrishewale.blogspot.com/2023/05/insulated-concrete-form-icf-market-to.html
Ultraviolet (UV) Disinfection Equipment Market-https://bhagyashrishewale.blogspot.com/2023/05/ultraviolet-uv-disinfection-equipment.html
Cross-Laminated Timber (CLT) Market-https://bhagyashrishewale.blogspot.com/2023/05/cross-laminated-timber-clt-market-to.html
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1943
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Browse Latest Blogs: https://www.reportsanddata.com/blogs
Browse Latest Press Release: https://www.reportsanddata.com/press-release