Global Technical Textiles Market to Reach a Valuation of US$370 Billion by 2032 – Exclusive Fact.MR Report
NEW YORK, February 9, 2022 /PRNewswire/ — The size of the global technical textiles market is expected to grow at a CAGR of 5.3% over the next ten years at the market value of 220 billion US dollars in the 2022 valuation period and is expected to reach a valuation of US$370 billion by 2032.
Technical textiles are used in a wide range of industries such as medical, automotive, construction, industrial and sports, which have grown rapidly over the past half-decade and will have a direct impact on the demand for technical textiles over the next few years in the industries. .
The consumption of technical textiles over the past half decade has been growing the market size at a CAGR of around 4.8%. The consumption of technical fabrics in mobiltech accounted for the highest market share, which is mainly attributed to the use of industry-specific textiles in a range of automotive applications such as seat belts, upholstery fabrics seat covers, airbags and tire fabrics
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Technical textiles have found major applications through a diverse set of industries under this umbrella, such as automotive, aerospace, railroads, and marine vehicles. Additionally, technical textiles served as a key element to add safety and durability, enhancing the travel experience.
Over the past 2 years, there has been an increase in the consumption of protective clothing in healthcare and other sectors due to the increase in pathogen-related diseases such as COVID-19. In addition, workers tend to catch skin-related diseases that affect their health for a period.
In addition, the growing demand for high-performance textiles will boost their industrial reach during the decade, especially in the Asia Pacific and European regions.
Technical Textiles Market Size (2021A)
210 billion US dollars
Estimated market value (2022E)
220 billion US dollars
Expected market value (2032F)
370 billion US dollars
Global market growth rate (2022-2032)
Key points to remember:
- India brings a market valuation of approximately US$20 billion to the global market size and aims to increase the domestic high-tech fabrics market size for US$40 billion by 2024-end
- China the market value of technical textiles currently stands at US$60 billion and is expected to increase the market size at a CAGR of around 5.7% over the decade.
- By material type, polymer material is expected to hold around 58% of the global technical fabrics market share.
- By application type, the technical textile application in mobile technology is expected to hold approximately 20% of global market share.
- By process, the demand for nonwoven technical textiles is expected to grow at a constant CAGR of around 4%.
- Demand in the growth of technical textile products is attributed to use in the medical, automotive, construction, industrial and sports industries.
- Sales of technical textiles are expected to be driven by the proliferation of automotive applications.
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The various leading players in the technical textile market focus on offering various technical textile products and the latest developments in high-tech fabrics:
- In January 2022, Asahi Kasei Advance announced the opening of Airbag Fabric in Vietnam. Textiles produced on site feature superior strength, durability and heat resistance. The company has strategically placed its manufacturing unit in Vietnam to meet the growing demand for textiles from the automotive sector.
- In May 2021, 3M announced the launch of 3M Thinsulate technology which will include 60% post-consumer recycled material. The company aims to bring innovation and research into technical textiles and gain a competitive advantage in terms of high performance materials.
Top Companies Featured by Fact.MR
- 3M Company
- Ahlstrom Corporation
- Arville Textiles Ltd.
- Asahi Kasei
- Berry Global
- Dickson’s constant
- EI du Pont de Nemours and Company
- Freudenberg & Co. KG
- Hunter’s Society
- International textile group
- Kimberly Clark Corporation
More Valuable Insights into the Technical Textiles Market
Fact.MR in its report offers market analysis of the global technical textiles market by analyzing the forecast period till 2022 and beyond. This study reveals the growth of the Technical Textile Market with detailed segmentation as follows:-
- By Material:
- Natural Fiber
- Regenerated fiber
- Others (minerals, composites, etc.)
- By process:
- Woven Technical Textiles
- Knitted technical textiles
- Non-woven technical textiles
- Per application:
- By region:
- North America technical textiles market
- Technical textiles market in Latin America
- European technical textiles market
- East Asia technical textiles market
- South Asia & Oceania Technical Textiles Market
- Middle East & Technical textiles market in Africa
Key Questions Covered in the Technical Textiles Market Report
What is the current size of the global technical textiles market?
How is the technical textile aligned?
At what CAGR is the market expected to grow?
How fast has the technical textile market developed over the past five years?
How have key players reacted to key market developments?
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