Technical Textiles Market

Technical Textiles Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Technical Textiles Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 1,67,321.5 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.4% and is expected to reach a valuation of US$ 2,83,111.7 Mn by 2032 end.

Technical Textiles fibers are superior to synthetic fibers in terms of strength. As a result, they are employed extensively in various applications outside of clothing, including automotive, medical, and other industries.

Market Dynamic

THE GROWING ADOPTION OF TECHNICAL TEXTILES DRIVES THE MARKET

The application of the textile industry has given the textile product an unexpected change. With technological advancement, the use of textile products has increased rapidly and improved its performance to be more durable and convenient for its users. The demand for technical textiles is still growing due to their superior functionality and application in clothing, footwear, carpets, bags, etc.

As a result of globalization and urbanization, people are exposed to new materials such as cotton, polyester, and polypropylene. The expansion of production is increasing the demand for technical textiles, encouraging innovation in innovative technologies. The development of this market also has to do with changes in consumer behavior and technological advances that enhance the value proposition of particular textile products.

HIGH INVESTMENT COSTS & COMPLEX PROCEDURES HAMPER THE MARKET GROWTH

The complex procedure of technical textiles manufacturing is a restraint to the market participants as it requires advanced infrastructure, which is cost sensitive. Along with this, the high cost of raw material procurement inevitably raises the total price of the finished product to an extent where the manufacturers are left with limited opportunities for profit margin.

THE RISE IN THE PROLIFERATION OF THE LATEST TECHNOLOGY  PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

The techno-economic growth in the textile industry is expected to contribute to the development of new technologies and products. New technologies are increasingly making their way into the textile industry and changing the intended objectives for textiles. These new technologies and scientific advancements have developed unique processes to manufacture fibers with the functional properties required for technical materials.

COVID-19 Impact

The COVID-19 pandemic has resulted in a surge in demand for healthcare supplies and nonwoven materials because healthcare workers cannot attend classes and perform their duties. The world has had more deaths in the last few months than at any other time in history. This makes it imperative for hospitals and health facilities to run on generators and fuel.

However, there are no signs of peace or relief from this nightmare, meaning the demand for fuels will keep increasing as people worldwide suffer from the aftereffects of COVID-19 or coronavirus.

Market Segments Covered in Report

By Application Type :

• Agrotech
• Buildtech
• Hometech
• Indutech
• Sportech
• Packtech
• Mobiltech
• Meditech
• Clothtech
• Geotech
• Protech
• Oekotech

By Process Type :

• Nonwoven
• Composites
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are mobiltech textiles projected to ensure the most revenue during the forecast period?

At 35.0% of the market, mobiltech textiles had the greatest revenue share. Due to the increased production and sales of automobiles worldwide, mobiltech textiles are anticipated to experience great growth in the years to come. Due to their excellent durability and wear resistance, technical textiles are utilized in producing airbags, seat belts, seating upholstery, tire cords, and linear, among other products.

The market for mobiltech textiles will be driven in the next years by government regulations requiring the installation of airbags in automobiles, strict restrictions surrounding the use of seat belts, and rising consumer expenditure on luxurious and long-lasting seating upholstery.

Why is the Non-Woven Based Production segment expected to expand the fastest during the forecast period?

During the anticipated period, the nonwoven segment will continue dominating the technical textile market. Nonwoven processes are chosen over composite and other methods because they are less expensive and increase specific natural or synthetic fiber qualities, ultimately improving textile materials’ performance.

Nonwoven textiles are the best material for automotive applications because of their superior absorption and cushioning. Sportswear manufacturing seeks materials with high strength and softness, which fuels the demand for nonwoven textiles.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Asia Pacific market held a sizeable revenue share of 54.1%. India’s escalating domestic and international terrorism has boosted demand for technical fabrics by increasing demand for bulletproof vests. Ballistic protection vests are made from technical textiles because of the phase change materials’ excellent tear and scratch resistance. Ballistic vests are worn by those in the military, the affluent, and influential politicians who face a serious risk to their lives.
• The U.S. is the main driver of regional growth in North America, which has the second-largest proportion of the Technical Textiles systems market. The demand for Agrotech textiles in the US will be driven by the expansion of agricultural operations and the growing investments made by farmers in protecting crops. Due to their great temperature and weather resilience, technical textiles are used to make farming nets and shade cloths.

Competition Analysis

Leading market players are concentrating on increasing their R&D expenditures to innovate their product offerings while engaging in strategic merger and acquisition activities to capture the largest market share.

Some of the key developments that have taken place in the Technical Textiles Market include:

• In March 2019, For the fashion and apparel industries, 3M introduced “Thinsulate insulation,” a new sustainable insulation product composed entirely of recycled fabric and polymers. This item should lessen the fashion industry’s carbon footprint.
• In November 2020, New ocean trash clean impact textilesTM technology, created by Duvaltex and Steelcase in partnership, transforms marine plastic waste into the surface fabric with full traceability. “Intersection” is the first ocean trash clean impact textilesTM, and it can be used on over 50 Steelcase screen and panel product lines. It comes in 17 distinct colors.

A list of some of the key suppliers present in the market are:

• Asahi Kasei
• Kimberly Clarke
• Berry Global Group
• DuPont, Mitsui Chemicals
• Freudenberg & Co.
• Low & Bonar
• Huntsman (US)
• Toyobo Co
• Milliken & Company
• SRF Limited
• Koninklijke Ten Cate
• International Textile Group

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.