In-Depth Analysis | Market Reports | PRICE REPORT

The Technical Textile Market Is Expected To Grow To USD 268.97 Billion By 2028, At A CAGR of 4.1%

Published: May 15, 2021

Author: Manali bhanushali

Content:

The evolution of technology transversally integrates the human sciences, materials and information technology, and allows to predict positive perceptions in the approach towards development of new products and expand scope of applications of the product in the market. Its main feature is to offer high-tech and performance-efficient fabrics designed not just to look attractive, but also to offer a noteworthy value addition in terms of functionality. Technical textiles in industrial products are also associated with electrical components and cables, flexible seals and diaphragms, and acoustic and thermal insulation for other domestic appliances. It is a promising sector with extreme growth potential and is successful in supporting diversified industries. These are also largely used for the purpose of ecology and environment protection.

Increasing applications of geotextiles in road construction, sports sector, and transportation is one of the factors that has propelled growth of the global technical textile market. Demand for these textiles is increasing from sports and active wear sectors, owing to the use of antimicrobial finishes for producing such products. Textile chemicals help prevent bacterial infection and odor caused by the sweat trapped in clothing such as socks, undergarments, T-shirts, and other sports apparels. The products are predominantly used in the construction industry in order to retain the structure of the roads, pipelines, embankments, and among other applications. Moreover, improvement in technology taking place in various countries across the globe is further expected to drive growth of the global technical textile market.

Government of India has allowed up to 100% FDI under automatic route for the technical textiles section to enable higher integration of technology into manufacturing processes and finished products. Thus, global manufacturers of technical textiles products will be able to set up manufacturing units in India, either alone or through partnerships with Indian industries.

Download Free Sample copy of Report @ https://www.reportsanddata.com/sample-enquiry-form/1943

Market Insights:

Material Type Outlook:

The natural fiber material segment is expected to register a substantially high CAGR during the forecast period. These are important raw material fibers for technical textiles. These materials are of reasonable rates, light-weighted, and recyclable.

Growing awareness about the superior functionality of technical textiles is encouraging higher consumption of these materials. They are classified as natural fibers, synthetic polymers, regenerated fibers, and metal and specialty fibers, among others. Initially, demand for technical textile materials was from development and industrialization across several regions. These materials offer features such as good chemical resistance, high dimensional stability, cut resistance low thermal shrinkage, etc.

Mechanical functionality of synthetic fibers also depend on the molecular weight, crystal grouping and branching. With such advanced properties of these materials, technical textiles sector will offer innovative solutions for global problems, such as pollution, health issues, efficient transportation, environment protection and better communication among others.

The synthetic polymer segment accounted for major revenue share in the global market in 2020 and is projected to register highest CAGR during the forecast period. Synthetic polymers are resistant to chemicals, UV rays, and electricity. It absorbs less moisture, are light-in-weight, elastic, wrinkle, and has low specific gravity. Therefore these materials are used to produce cables, fishnets, marine ropes, and many other necessary materials.

Technical Textile Market Overview

Process Type Outlook:

The non-woven process segment accounted for major revenue share in 2020. This process is highly adopted because of its properties including antimicrobial properties and durability. These are designed for extreme heat and abrasion. This process is used in agro-tech, build tech, geo-tech, and various other applications.

The application of the products is very vast in the market with diverse functions in various sectors in terms of products, functions and end uses extending from lightweight nonwoven filters, knitted nets and brushes to heavyweight coated conveyor belting. Among the product type segments, the non-woven segment is expected to register the highest growth rate in the global market.

Woven textiles have applications majorly in clothing sector, predominantly in sports and active wear, as well as automotive and construction industries. These product types are being adopted widely in various industrial sectors and play a dynamic role in various applications. Some of the features of the woven textiles include sustainability, recyclability and reusability of these products.

Application Outlook:

Applications of technical textiles are highly diversified in several sectors namely, automobile, construction, clothing, medical and environment among others. Demand for the textiles is expected to propel across various industries due to its ability to manufacture sustainable products for various applications. Among the applications segments, the building construction segment is expected to register highest growth rate in the global market, owing to its qualities including noise prevention, protection against sun, excellent proofing quality, visual protection, building safety and others.

Companies considered and profiled in this market report

Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, Koninklijke Ten Cate, International Textile Group, Toyobo Co., SRF Limited, Lanxess, and DuPont among others. The players operating in the market have undertaken a number of strategies. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to expand customer base and new technological developments in the global market.

Along with the companies operating in the market, other key market players have also been entering the industry. In July 2020, Ecotek360 and Fiber Conversion collaborated on eco-friendly technical textiles. This collaboration will be fruitful for the sustainable and ecological growth and development of the market across the globe.
In June 2020, Teijin Frontier launched High-Stretch SOLOTEX ECO-Hybrid Fiber made using plant-derived and recycled materials.

This will contribute towards a sustainable and eco-friendly living
In June 2020, The China-based industrial yarn manufacturer Zhejiang Kingsway High-Tech Fiber Co., Ltd. expanded its production volumes with five Oerlikon Barmag lines. This expansion is going to be extremely dynamic for the market in the upcoming years
In March 2020, Berry Global produced technical textile materials critical for the defense against the novel Coronavirus, thus, by extending its capacity (Meltex meltblown) to manufacture wipes and provide the required material to leading healthcare and consumer brand companies.

The technical textile industry offers numerous growth prospects. Consequently, a number of startups providing innovative products and technologies have been entering the market. Some of them are Oros Apparel, Spiber, Bolt Threads, BeBop Sensors, Ecovative, Modern meadow, Mango Materials, Re:newcell and Archroma, among others.

Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends for each of the segments for the study period. The global technical textile market report includes market size, market share, ongoing industry trends, market revenue or revenue share contributed by each regional market, and each of the segments. In addition, the report offers industry analysis in terms of revenue growth opportunities for existing as well as entry level players.

For the purpose of this report, Reports and Data have segmented into the global technical textile market on the basis of material type, process type, application, and region: