Technical textile market reaches 268.97 billion USD | Industry Analysis, Size, Trends, Growth, Outlook 2028
The technical textiles market size was USD 193.73 billion in 2020 and is expected to reach a value of USD 268.97 billion by 2028.
NEW YORK, NY, UNITED STATES, December 3, 2021 /EINPresswire.com/ – The Global technical textile market is expected to reach $ 268.97 billion by 2028, according to a new report from Reports and Data. Technical textiles are functional fabrics used in various industries such as construction, home textiles, automotive, medical and many others. These textiles have improved properties over conventional textiles.
The technical textile market is influenced by the growing demand from construction and automotive industries for insulation products, rubber, flooring, protective equipment and many more. There is a sudden increase in demand for geotextiles, which increase the economy of technical fibers. Technical textiles generate a lot of toxic waste, but they are recyclable in nature. Another constraint in the technical textile market is the high cost of finished products and raw materials.
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Major participants include 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 above-mentioned factors collectively create opportunities for the market growth while factors such as adverse effects of technical textile set limits in the market. However, each factor is believed to have a definite impact on the market during the forecast period. Steady progress in the technical textiles market through innovation efforts has improved the efficiency of technical textiles.
The demography of Europe has shifted to the textile market as these textiles are used in mobil technologies, oeko and many other applications in technical textiles. The European market is emerging since the medical industries also use technical textiles. Germany is considered the largest European market leader since 50% of the region’s technical textile production comes from this country.
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Other key findings from the report suggest
â¢ Natural fibers held a 26.2% market share in 2018. Natural fibers are essential raw materials for the technical industry. It has a lower carbon footprint and can be degraded by microorganisms and composted. It also uses less energy for production, emits less greenhouse gases and supports organic farming.
â¢ The woven process held the largest market share of 35.6% in 2018. Woven textiles have several applications in construction, clothing, automotive and many other industries. Woven textiles are used in the medical industries for making surgical gowns because woven textiles are breathable, lightweight and comfortable.
â¢ Mobiltech is expected to grow with the highest CAGR of 8.9% due to strong demand for cars due to increasing urbanization. This is used to make car seats, door panels, carpets and ceilings.
â¢ Asia-Pacific is forecast to grow with the highest CAGR of 5.9% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth of the technical textiles market due to the sudden increase in the automotive sector. Technical textiles are used in the automotive industry for the production of tire cables, seat belts and many more.
For the purpose of this report, reports and data have been segmented on the global technical textiles market on the basis of material type, process type, application, and region:
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Material Type Outlook (Volume, Kilotons; Revenue, $ Billion; 2018-2028)
â¢ Natural fiber
â¢ Synthetic polymer
â¢ Regenerated fiber
â¢ Specialty fiber
Outlook Product Type (Volume, Kilotons; Revenue, $ Billion; 2018-2028)
Application Outlook (Volume, Kilotons; Revenue, $ Billion; 2018-2028)
â¢ Construction technology
â¢ Home technology
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