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.
Get a Sample Research PDF:
https://www.fortunebusinessinsights.com/enquiry/sample/technical-textiles-market-102716
Leading Players Featured in the Technical Textiles Market Research Report:
DuPont de Nemours Inc.Freudenberg GroupAsahi Kasei CompanyTenCate FabricsMilliken & CompanySKAPS IndustriesTerramInternational Fibres GroupStrata GeosystemsSRF LimitedJohns ManvilleHuesker 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 By Type AnalysisBy Application Analysis Regions Covered North AmericaEuropeAsia PacificSouth AmericaMiddle East and Africa Global Technical Textiles Market Growth Drivers Increasing adaptability and awareness of the products Synthetic polymer is widely preferred material for technical textile production
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/technical-textiles-market-102716
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.
Get a Quote Now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/technical-textiles-market-102716
Detailed Table of Contents:
Introduction Research ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket Dynamics Market DriversMarket RestraintsMarket OpportunitiesKey Insights Key Emerging Trends in Global MarketLatest Technological AdvancementsInsights on Regulatory ScenarioPorters Five Forces AnalysisKey developments: Acquisition, Collaboration, Strategic Partnership, and Joint VentureGlobal Technical Textiles Market Analysis, Insights and Forecast – By Product Type, 2015-2026 AgrotechBuildtechClothtechGeotechHometechIndutechMedtechMobiltechBy Fiber Type Natural FiberSynthetic FiberBy Product Form FabricFiberYarnBy Region North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
TOC Continued…!
Inquire Before Buying:
https://www.fortunebusinessinsights.com/enquiry/queries/technical-textiles-market-102716
Read Related Insights:
Textile Market Size, Industry Revenue, Analysis & Research Outlook by 2029
Digital Textile Printing Market to Reach USD 311.7 Million by 2028, Globally, at a CAGR of 10.1%
Textile Machinery Market Outlook, Size, Share and Growth [2023-2030]
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune – 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Attachment
