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The global technical textile market is anticipated to grow at a CAGR of around 6.4% during the forecast period 2020 to 2027 and to reach around US$ 293.5 Bn by 2027.
Market Dynamics
Technical textile is gaining importance in various end use industries such as agriculture, medical, automotive, etc. Rapid technological advancements in textile industry and manufactures approach towards development of advanced textile material with high strength. These are some major factors expected to drive the growth of global market.
Medical sector is witnessing rapid development across the globe; changing regulatory scenarios and high investment by the government for R&D activities are factors responsible for the sector growth. Major medical manufacturers are focused on development advanced implantable textile that aid in betterment of the patients.
Government of developed and developing countries is investing high for the development of the technical textile. Through implementing the rules and regulation in order to simplify the adoption of technical textiles in various end use industries are major factors impacting the growth of global market positively.
In addition, flourishing automotive sector across the globe, rising sale of passenger vehicles in emerging economies, and consumers focus towards safety and quality products is expected to increase demand for technical textile among automotive manufacturers further supporting growth of the global market.
Major players focus on increasing the business profit ratio through strategic merger is another important factor expected to support the growth of target market.
However, factors such as high cost of end product and low awareness among consumers is hamper the growth of global technical textile market. Fluctuating raw material prices impact the end product cost with the increase in raw material price the final product cost increases.
Technological advancements by major players and high investment for R&D activities are expected to create new opportunities over the forecast period. In addition, business development activities through strategic partnerships and agreements are factors further supporting the revenue growth of the target market.
Technical Textile Market Segment Analysis, 2019
The global technical textile market is segmented into material, process, and application. The application segment is bifurcated into mobiltech, indutech, meditech, protech, packtech, agritech, hometech, clothtech, buildtech, and other (sportech, oekotech, and geotech). Among the application segment the mobiltech is expected to account for significant revenue share in the global market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share owing to increasing demand for technical textile from various end use industries such as medical, agriculture, defense, etc. In addition, high investment by major players for R&D activities, coupled with availability of advanced infrastructure is expected to further support the growth of target market in this region.
Asia Pacific is expected to witness faster growth in the near future owing to high investment by the government for R&D activities. In addition, availability of various financial supports and emergence of mid-size enterprises with new products is expected to further support the growth of regional market.
Competitive Landscape
High presence of players operating on global level and innovative product offerings is increasing the competitive scenario. In addition, partnerships and agreements are expected to further augmenting the market competition.
Report coverage
Market |
Global Technical Textile Market |
Analysis Period |
2016 – 2027 |
Base Year |
2019 |
Forecast Data |
2020 – 2027 |
Market Stratification |
Material Type, Process, Application, and Geography |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Technical Textile Market (Material Type: Natural fiber, Synthetic polymer, Regenerated fiber, Mineral
Metal, and Specialty fiber; Process: Woven, Knitted, Non-woven, and Others (knotted and braided); Application; Mobiltech, Indutech, Meditech, Protech, Packtech, Agritech, Hometech, Clothtech, Buildtech, And Other (Sportech, Oekotech, and Geotech)) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global technical textile market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global technical textile market, its product type, process, application segment, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global technical textile market size and segment markets by product type, process, application, and geography along with the information on companies operating in the market. The technical textile market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Avintiv, Kusumgar Corporates, 3M, SRF, Ibena Textilewerke GmbH, Johnson & Johnson, Procter & Gamble, SKAPS, E.I du Pont de Numours & Company, Ahlstrom, Avintiv, Kimberley Clark Corporation, Maccaferri, and Strata Geosystems Pvt. Ltd.
Market Segmentation
Market By Material Type
Market By Process
Market By Application
Market By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Acumen Research and Consulting says that, the global technical textile market in 2027 will hit above US$ 293.5 Bn.
In the material segment the synthetic polymer segment is growing at faster pace.
The CAGR of the global technical textile market from 2020-2027 is above 6.2%.
In the application segment mobiltech is expected to grow faster.
Some of the players considered in the report scope are Johnson & Johnson, Procter & Gamble, SKAPS, E.I du Pont de Numours & Company, and Ahlstrom.
Rapid technological advancements in textile industry and manufactures approach towards development of advanced textile material with high strength are major factors expected to drive the growth of global market.
Medical sector is witnessing rapid development across the globe; changing regulatory scenarios and high investment by the government for R&D activities are factors responsible for the sector growth.
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