Portland, OR, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Global Technical Textile Market, by Type (Woven, Nonwoven, and Others), Material Type (Uniform and Composite), and End-use Application (AgroTech, BuildTech, ClothTech, GeoTech, HomeTech, InduTech, MediTech, MobilTech, OekoTech, PackTech, ProTech, and SportTech): Global Opportunity Analysis and Industry Forecast, 2018–2025”. According to the report, the global technical textile market was pegged at $234.72 billion in 2017 and is projected to reach $335.0 billion by 2025, registering a CAGR of 4.5% during the period 2018–2025.
Growth Drivers and Industry Trends
The report splits the market into type, material type, end-use application, and geography. Based on type, the market is segmented into woven, nonwoven, and others. The non-woven held the largest market share in 2017, contributing more than one-third of the total market. However, the knitted segment is projected to manifest the fasted CAGR of 5.5% during the forecast period.
Based on material type, the report bifurcates the market into uniform and composite. The uniform segment is expected to portray the fastest growth, registering the CAGR of 4.9% during the forecast period. However, the composite segment held the largest share in 2017, contributing about 57% of the total market.
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Segmentation Analysis of the Industry
Based on end-use application, the report splits into AgroTech, BuildTech, ClothTech, GeoTech, HomeTech, InduTech, MediTech, MobilTech, OekoTech, PackTech, ProTech, and SportTech. The OekoTech segment is projected to manifest the fastest CAGR of 7.0% during the forecast period. However, the MobilTech segment dominated the market in terms of revenue, contributing more than one-fifth of the total market in 2017.
Based on geography, the report analyzes various regions including North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to create lucrative opportunities in the coming years, as it held the largest market share in 2017, contributing about 26% of the total market.
Industry Key Players
The report analyzes the major market players including DowDuPont, Johns Manville, Royal Ten Cate, Proctor and Gamble, Huesker Synthetic GmbH, Ahlstrom Corporation, GSE Environmental Inc., Freudenberg & Co., 3M, and Hindoostan Mills.
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