The global technical
textile market is forecast to reach USD 249.95 Billion by 2026,
according to a new report by Reports and Data. Technical Textiles are
functional fabrics which are used in various industries such as construction,
home textile, automobiles, medical, and many others. These textiles have
enhanced properties compared to conventional textiles.
The market for technical textile
is influenced by the rising demand from construction and automotive for
insulating products, rubber, floor covering, protective gears, and many others.
There is a sudden rise in the demand for geotextiles, which are increasing the
economy of the technical fibers. Technical textiles generate a lot of toxic
wastes, but it is recyclable in nature. Another restraint of the technical
textile market is the high cost of the finished goods and raw materials.
The above-mentioned factors
collectively create opportunities for the market growth while factors such as
unfavorable effects of technical textile pose limitations in the market.
However, each factor would have a definite impact on the market during the
forecast period. Consistent advancements in the technical textile market owing
to innovative efforts have enhanced the efficiency of technical textiles.
The demography of Europe has been
shifting towards the textile market because these textiles are used in mobil
tech, oeko tech, and many other applications in technical textiles. The
European market is emerging since medical industries are also using technical
textiles. Germany is considered as Europe’s largest market leader since 50% of
the region’s technical textiles production are from this country.
Further key findings from
the report suggest
- Natural Fiber held a market share of 26.2% in the
year 2018. Natural fibers are essential raw materials for technical
industry. It has a smaller carbon footprint, and can be degraded by
micro-organisms, and composted. It also uses less energy for production,
emits fewer greenhouse gases, and supports organic farming.
- Woven process held the largest market share of 35.6%
in the year 2018. Woven textiles have several applications in
construction, clothing, automobiles, and many other industries. Woven
textiles are used in medical industries for making surgical gown because
woven textiles are breathable, light, and are comfortable.
- Mobiltech is forecasted to grow with the highest CAGR
of 8.9% because of the high demand for cars due to rising urbanization.
This is used to manufacture seats, door paneling, carpets and ceilings of
cars.
- Asia Pacific is forecasted 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 in the technical textile
market because of the sudden increase in the automobile sector. Technical
textiles are used in the automobile industry for the production of tire
cords, seat belts, and many others.
To identify the key trends in
the industry, click on the link below:
- Key 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.
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