Size of the technical textiles market worth $285.88 billion, globally, by 2028 at 5.15% CAGR: Verified Market Research®

JERSEY CITY, NJ, January 5, 2022 /PRNewswire/ — Verified Market Research recently released a report, “Technical textile market” By material (natural fiber, synthetic polymer, metal, mineral, regenerated fiber), by process (woven, knitted, non-woven), by application (transport textiles, medical and hygiene textiles, industrial products and components) and by Geography According to Verified Market Research, the global technical textiles market size was valued at $190.33 billion in 2020 and is expected to reach $285.88 billion by 2028, growing at a CAGR of 5.15% from 2021 to 2028.

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126 – Tables
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Overview of the global technical textiles market

Technical textiles are used extensively in agriculture, construction, sports, medical and other applications. Rising construction activities in major economies around the world with growing demand for various on-road and off-road vehicles is pushing the adoption of technical textiles. Increasing use in the medical sector due to its excellent comfort, flexibility, protective, skin-friendly and economical nature. The growing demand for implantable and non-implantable textiles for better hygiene and health care is driving the demand for technical textiles. The growth of this market is further fueled by favorable government support through the promotion of the manufacturing sector. The Ministry of Textiles, Government of India has approved the proposal to establish the National Technical Textiles Mission (NTTM) to improve the application of geotextiles, medical textiles, agrotextiles and other technical textiles. This aims to create awareness among users and then attract large-scale investment in the textile market.

The growth of agro-textile is expected to increase over the forecast period owing to the increase in the world’s population at an alarming rate, resulting in the adoption of modern techniques to aid the results. Rising export business of technical textiles owing to strong cross-border demand is driving the growth of the market. However, the growth of this market is mainly hampered by the high cost of the product compared to the conventional low cost alternatives. This is mainly due to the rising cost of raw materials used for the manufacture or in the manufacturing process of these technical textiles. Further, outbreak of highly contagious and infectious COVID-19 has driven demand for medical and hygiene products driving market growth in fiscal year 2020. Strict restriction on movement, halt in manufacturing activity of essential commodities and large gap between supply and demand, a result of trade shutdowns has emerged as a hindrance to market growth over the past year for the supply of raw materials. Nonetheless, with economic conditions returning to normal, the market is expected to grow at a remarkable pace in the coming years. Continuous technological advancements due to constant research and development activities of leading companies are expected to boost the market growth over the forecast period.

Key developments

  • In March 2021NAUE, a manufacturer of geotechnical building materials, has introduced the biodegradable nonwoven geotextile, Secutex Green.
  • In February 2021Freudenberg Performance Materials Apparel has unveiled new highly elastic and breathable inserts and bands for all types of sportswear in the Freudenberg Active line.
  • In May 2020Global technology group Freudenberg has acquired UK-based Low & Bonar PLC, a company making technical textiles for an undisclosed amount.

Key players

Major market players are Dow DuPont, Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten CateFreudenberg & Co., Proctor and Gamble, 3MHuesker Synthetic GmbH and Hindoostan Mills.

Verified Market Research has segmented the global technical textiles market on the basis of material, process, application, and geography.

  • Technical Textiles Market, By Material
    • Natural Fiber
    • Synthetic polymer
    • Metal
    • Mineral
    • Regenerated fiber
    • Others
  • Technical textiles market, by process
    • Woven
    • Knitted
    • Nonwoven
    • Others
  • Technical Textiles Market, By Application
    • Textile Transportation
    • Medical and hygiene textiles
    • Industrial products and components
    • Agriculture, horticulture and fishing
    • Household linen
    • Clothing components
    • Packaging and containment
    • Others
  • Technical Textiles Market by Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • LINE
      • Middle East & Africa
      • Latin America

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