Pune, India, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global technical textiles market is expected to witness significant growth, with its market size projected to increase from USD 159.29 billion in 2018 to USD 195.36 billion by 2026. This growth is attributed to ongoing technological advancements in the manufacturing sectors. In 2020, the market reached USD 169.42 billion, and it is anticipated to maintain a CAGR of 2.7% throughout the forecast period.
Technical textiles are made from different varieties of fibers and filaments based on the goal of the final product. These textiles are used in several applications such as the automotive sector, medical industry, construction sector, packaging industry, and others. The surge in demand for technical textiles can be attributed to ongoing product innovations within the manufacturing sectors, driving market expansion. Moreover, the market for technical textiles has seen growth due to their multifaceted qualities, including durability, lightweight construction, mechanical resilience, and more. These attributes have increased demand across various industries.
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Leading Players Featured in the Technical Textiles Market Research Report:
- DuPont de Nemours Inc.
- Freudenberg Group
- Asahi Kasei Company
- TenCate Fabrics
- Milliken & Company
- SKAPS Industries
- Terram
- International Fibres Group
- Strata Geosystems
- SRF Limited
- Johns Manville
- Huesker Group
Competitive Landscape:
Increasing Government Initiatives to Diversify the Competition
The prominent companies in the technical textiles market are focusing on manufacturing of innovative and new textiles which contain enhanced properties. Further, the rising government initiatives for the production of these textiles have led to an increased competition among the key players in this market which will help the companies to expand their business operations and establish a strong footprint in this market.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2026 |
| Forecast CAGR | 2.7% |
| 2026 Value Projection | $195.36 Billion |
| Market Size in 2018 | $159.29 Billion |
| Historical Data | 2015-2017 |
| No. of Pages | 130 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Global Technical Textiles Market Growth Drivers | Increasing adaptability and awareness of the products |
| Synthetic polymer is widely preferred material for technical textile production |
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Segmentation:
The technical textiles market can be segmented into several key categories, each catering to distinct applications and industries. These segments include:
By Application: This division classifies technical textiles based on their specific uses. For instance, agro textiles find application in agriculture, while medical textiles are utilized in the healthcare sector. Geotextiles serve civil engineering purposes, and automotive textiles are designed for the automotive industry. Protective clothing and sports/outdoor textiles are also significant segments.
By Material: Another crucial segmentation factor is the type of material used. Technical textiles can be categorized into natural fibers (e.g., cotton, wool), synthetic fibers (e.g., polyester, nylon), and specialty fibers (e.g., aramid, carbon fiber) based on their composition.
By Technology: This categorization distinguishes technical textiles based on their manufacturing processes. Nonwoven textiles, woven textiles, knitted textiles, and coated textiles are examples of different technologies used in their production.
By End-user Industry: Segmenting by the industries that rely on technical textiles, such as construction, healthcare, agriculture, automotive, defense, and sports/leisure, helps understand their diverse applications.
Market Overview:
This research report offers an in-depth study of the driving factors, restraints, and trends related to the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by the leading players to boost their market position.
Drivers/Restraints:
The automotive industry is witnessing a surge in demand for technical textiles, driven by increased production of seat covers, tires, seat belts, and other applications that extensively utilize these specialized textile products. This heightened demand stands as a significant catalyst propelling market growth. Additionally, nanotechnology assumes a pivotal role in advancing textile materials, augmenting their existing properties. For instance, nano-fibers employed in the construction sector contribute to the creation of lightweight yet durable concrete materials capable of withstanding prolonged exposure. This innovation represents another pivotal factor bolstering the expansion of this market.
Growing awareness about the superior functionality and application of technical textiles is encouraging the higher consumption of technical textiles and related products. The increasing adaptability of unconventional value in textiles has influenced traditional manufacturing to escalate the pace of innovation, and upgrade the traditional fibers by contributing to technical textile development. The change is attributed to accelerated demand for a product which offers flexibility, durability and offers superior functionalities such as personal safety, high strength, and light weight.
Regional Analysis:
North America: These countries have a well-established technical textiles market, driven by innovation and strong R&D activities. The automotive, healthcare, and construction sectors are significant consumers of technical textiles in North America. Stringent regulations and standards for safety and quality were influencing market growth.
Europe: Leading European nations are at the forefront of technical textiles development and application. The automotive and aerospace industries, in particular, drive demand in this region. This region is experiencing increasing demand, with a focus on cost-effective technical textiles for various industries.
Asia-Pacific: Asia-Pacific is a major hub for technical textiles production, driven by its large manufacturing sectors and infrastructure development. China is a dominant player, especially in areas like geotextiles and industrial textiles. South Korea and Taiwan countries are known for their technical expertise and innovation in materials, contributing to the growth of the market.
Latin America: Brazil and Mexico were the key markets in this region. Infrastructure development and growth in the automotive industry were driving demand for technical textiles.
Middle East and Africa: Infrastructure development and construction projects are driving demand for technical textiles in the Middle East and Africa. Protective clothing for the oil and gas industry is also a notable segment. African countries were exploring opportunities in agriculture and geotextiles.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Technical Textiles Market Analysis, Insights and Forecast – By Product Type, 2015-2026
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- Agrotech
- Buildtech
- Clothtech
- Geotech
- Hometech
- Indutech
- Medtech
- Mobiltech
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- By Fiber Type
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- Natural Fiber
- Synthetic Fiber
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- By Product Form
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- Fabric
- Fiber
- Yarn
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- By Region
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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TOC Continued…!
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