“The technical textile market is projected to grow at a CAGR of 5.89% from 2017 to 2022”
The technical textile market is estimated at USD 165.51 billion in 2017 and is projected to reach USD 220.37 billion by 2022, at a CAGR of 5.89%. Factors such as improving economic conditions of countries, technology advancement, and increasing end-use applications are expected to drive the technical textile market in the future. Increasing demand from end-use industries such as healthcare, construction, clothing, packaging, sportswear & sports equipment, automotive, environmental protection, and other such areas is expected to drive the overall technical textile market growth from 2017 to 2022. However, the high cost of finished products affects the pricing structure of the intermediate industry, thereby restraining the growth of the market.
“Based on material, the synthetic polymer segment is estimated to account for the largest share of the technical textile market in 2017”
The synthetic polymer segment is estimated to lead the technical textile market in 2017; this segment is projected to retain its leading position through 2022. This growth can be attributed to the superior quality they offer. Synthetic polymers are strong, stiff, high-strength fibers due to which they are widely used in high-tech applications such as bulletproof body armor.
“Based on application, the mobiltech segment is expected to grow at the highest CAGR during the forecast period”
Based on application, the mobiltech segment is projected to grow at the highest CAGR during the forecast period. The availability of modern healthcare facilities to the global population is driving the demand for efficient non-woven technical textile products as they provide higher performance as compared to that of the traditional paper-based products.
“The Asia Pacific technical textile market is expected to witness the highest growth during the forecast period”
The Asia Pacific technical textile market is projected to grow at the highest CAGR between 2017 and 2022. China dominated the Asia Pacific technical textile market in 2016 and is projected to grow at the highest CAGR during the forecast period. The demand for technical textile is expected to be fueled by rapid urbanization in emerging economies such as India and China. Increased construction spending in emerging counties is expected to trigger the demand for technical textile in buildings and construction which in turn is expected to drive the growth of the market.
Breakdown of Primaries
By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
By Designation: C Level – 35%, Director Level – 40%, Others – 25%
By Region: North America – 25%, Europe – 10%, Asia Pacific – 40%, Middle East & Africa – 15%, and South America – 10%
The key players profiled in the report are as follows:
• Asahi Kasei (Japan)
• Kimberly Clarke (US)
• Berry Global Group (US)
• DuPont (US)
• Mitsui Chemicals (Japan)
• Freudenberg & Co. (Germany)
• Low & Bonar (UK)
• Huntsman (US)
• Toyobo Co. (Japan)
• Milliken & Company (US)
• SRF Limited (India)
• Lanxess (Germany)
• Koninklijke Ten Cate (Netherlands)
• International Textile Group (US)
The primary objective of this study is to define, forecast, and segment the technical textile market on the basis of material, process, application, and region. The study also aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the key market dynamics, which include drivers, restraints, opportunities, and industry-specific challenges. It also analyzes competitive developments such as mergers & acquisitions, investments & expansions, new product developments, agreements & partnerships, and research & development activities in the technical textile market.
Reasons to buy the report:
The report will help market leaders/new entrants in this market in the following ways.
• This report segments the technical textile market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different regions.
• The report helps stakeholders understand the market and provides them with information about the key market drivers, restraints, opportunities, and challenges.
• This report will help stakeholders better understand their competitors and gain insights to improve their position in the market. The competitive landscape section includes mergers & acquisitions, expansions & investments, new product developments, agreements & partnerships.