Wilmington, Delaware, United States, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The technical textiles market accounted for US$ 180.9 billion in 2020. The market is expected to reach US$ 350.6 billion by 2031. Technical textiles market revenue is likely to develop at a CAGR of 6.2% from 2021 to 2031.
The development of technical textiles has a significant impact on modern technology. Technical textiles have a significant impact on the textile industry as well as the medical, civil, and other engineering sectors.
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Government initiatives aimed at educating and training skilled workers are estimated to drive growth in demand. Geo-tech textiles will become popular due to soil erosion and the need to protect soil and treat water sustainably.
Construction-related technical textiles, architectural textiles, and geotextiles continue to be in demand as global infrastructure development continues. Companies can differentiate themselves and meet unique customer needs by offering customized solutions tailored to specific industries and applications.
Key Findings of Market Report
- Mobiltech is projected to grow in the coming years, increasing demand for technical textiles.
- A large part of the technical textile market is expected to grow with the adoption of thermoforming technology.
- According to forecasts, North America and Europe are predicted to lead the market for technical textiles for the next few years.
- A large share of the technical textile market is expected to be dominated by India shortly.
Global Technical Textiles Market Growth Dynamics
Technical textiles have also embraced sustainability as a key market growth factor. Consumers and businesses are increasingly looking for eco-friendly and recyclable materials. Biodegradable, recycled, and environment-friendly textiles are gaining popularity.
Embedding electronics and sensors into textiles has become increasingly common for applications such as smart clothing, health monitoring devices, and military gear. With improved functionalities, these textiles are expected to grow significantly in the coming years.
The Technical textiles market is expanding primarily due to the increasing demand for less decorative and durable textiles.
A wide variety of technical textiles are used in a variety of industries, including construction, agriculture, sports, and medicine. Global construction activity and an increase in off-road vehicle demand are pushing the use of technical textiles.
Medical textiles, such as wound care products, protective gear, and surgical fabrics, are becoming popular due to the aging population and the COVID-19 outbreak.
Innovative technical textile products with improved durability, functionality, and sustainability are significant business prospects.
Global Technical Textiles Market: Regional Landscape
North America and Asia Pacific are likely to experience significant growth in technical textile demand. In the upcoming years, technical textiles demand is projected to grow in the United States and Canada. Technological advancements and the demand for medical textiles are expected to drive demand for technical textiles in the region.
Technical textiles are allowed for use in medical applications such as implants and prosthetics devices regulated by the U.S. Food and Drug Administration (FDA). Rising demand for automobiles and health hygiene in the market is expected to lead to a growth in technical textiles in India.
Increasing research and development activities as well as the growing demand for technical textiles is expected to lead to an increase in the demand for technical textiles.
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Global Technical Textiles Market: Key Players
Key players are launching products, advancing technology, and getting regulatory approvals in the technical textile market. These strategies are likely to drive growth in the technical textile market. Various strategies have been used by players to expand their technical textiles businesses.
Among the global players in the technical textiles market are the following players:
- Freudenberg & Co. KG
- DuPont
- Kimberly-Clark Corporation
- Ahlstrom Corporation
- Fiberweb PLC
- Polymer Group Inc.
- Companhia Providência
- Johns Manville
- The TWE Group
- Asahi Kasei
- Berry Global Group
- Mitsui Chemicals
Key Developments
- In September 2023, the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) held an Export Award Function to honor its members who export Technical Textiles. Mumbai - the financial capital of the country - hosted the Award Function on 12th September 2023. Under different segments of the technical textiles Industry, the council gave out about 24 awards for export excellence.
- In October 2023, as part of Asahi Kasei Advance's Performance Days, ECOSENSORTM, a fabric company in Japan, is expected to unveil three special features. Performance textiles enthusiasts and industry professionals will gather in Munich during this prestigious event.
As a company, ECOSENSOR is driven by a bold and ambitious vision. With this concept in mind, the company crafted an eco-high-tech fabric collection that represents design, innovation, and responsibility for the future.
Global Technical Textiles Market Segmentation
By Technology
- Thermo-forming
- Three Dimensional Weaving
- Three Dimensional Knitting
- Nanotechnology
- Heat-set Synthetics
- Finishing Treatments (such as Water-resistant Coatings & Holographic Laminates)
- Hand-made Elements (such as Stitch or Applique)
- Others
By End-use
- Mobiltech
- Indutech
- Sportech
- Buildtech
- Hometech
- Clothtech
- Meditech
- Agrotech
- Protech
- Packtech
- Others (Oekotech and Geotech)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
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