Pune, India, Nov. 22, 2021 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™ the global technical textiles market report 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. The 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.
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.
Companies Covered in the Global Technical Textiles Market are:
- Freudenberg Group
- DELCOTEX DELIUS TECHTEX GMBH & CO. KG
- TenCate Fabrics
- Arrow Technical Textiles Private Limited
- SKAPS Industries
- SRF Limited
- International Fibres Group
- DuPont de Nemours, Inc.
- Strata Geosystems
- Terram (Berry Global)
- Johns Manville
- PPSS Group
- Officine Maccaferri S.p.A.
- Asahi Kasei company
- HUESKER Group
- Milliken & Company
- Other Vendors
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Market Drivers
Increasing Demand for Advanced Technical Textiles for Household Furnishing Applications will Drive Market
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.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
Regional Segmentation:
Asia Pacific will Dominate Market with Presence of Major Manufacturing Nations
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.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/technical-textiles-market-102716
Key Players Assessment in this Research:
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
Competitive Landscape:
Intense Competition Witnessed Owing to Presence of Many Vendors
Players operating in the global technical textiles market report 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.
Significant Industry Developments of the Technical Textiles Market include:
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.
Major 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
TOC Continued…!
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