Technical Textile Market to Reach $331.8 Billion, Globally, by 2032 at 5.7% CAGR: Allied Market Research
Allied Market Research • 12 February 2024 - 12:09
SubjectMarket Research Reports
The global technical textile market is driven by increase in innovation in science and technology. One of the primary drivers of the technical textile market is continuous innovation in material science and technology. Advancements in fiber and fabric technologies have led to the development of high-performance materials with specific properties such as strength, durability, resistance to chemicals, and flame retardancy. These innovations open up new possibilities for technical textiles across diverse applications
WILMINGTON, Del, Feb. 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Technical Textile Market by Material (Natural Fiber, Synthetic Polymers/Fibers, Mineral Fiber, Regenerated Fiber, Metal Fiber, and Others), Process (Woven, Knitted, Non-Woven, and Others), and End-Use Application (MobilTech, InduTech, SporTech, BuildTech, HomeTech, ClothTech, MediTech, AgroTech, ProTech, PackTech, GeoTech, and OekoTech): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the technical textile market was valued at $191.7 billion in 2022 and is estimated to reach $331.8 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.
Prime determinants of growth
The global technical textile market is driven by rising demand from the end-use sector. Technical textiles find extensive applications across various industries, including automotive, healthcare, construction, sports and outdoor, and protective clothing. The increasing demand for these textiles in these sectors is a significant driver. For instance, the automotive industry utilizes technical textiles for interior components, airbags, and filtration systems, while the healthcare sector relies on medical textiles for wound care, implants, and surgical clothing. However, high costs of technical textiles may restrain the growth of the technical textile market.
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Report coverage & details:
Market Size In 2022
Market Size In 2032
No. Of Pages In Report
Material, Process, End Use Application, And Region.
Increase In Demand For Geotextile From The Developing Economies
Rise In Preference For Non-Woven Technical Fabrics
High Toxic Waste Production
The synthetic polymers/fibers segment to maintain its lead position during the forecast period.
By material, the synthetic polymers/fibers segment accounted for the largest share in 2022, contributing to more than half of the global technical textile market revenue. Synthetic fibers are widely used in applications including automotive, clothing, construction, filtration, home furnishing, and others. Thus, increase in population along with urbanization are expected to drive the growth of the synthetic fiber market in the upcoming years. In addition, increase in the trend of light weight accessories for electric vehicles to get the best performance further boosts the market growth for the synthetic fiber technical textile market. Moreover, changes in lifestyle patterns demand well-furnished homes that can be fulfilled with the help of synthetic fibers, which in turn fuels the market growth globally.
The woven segment to maintain its lead position during the forecast period.
By process, the woven segment accounted for the largest share in 2022, contributing to more than five-eighth of the global technical textile market revenue. Woven textiles are classified on the basis of weave, thread density, number of yarns & crimps, and others. Durability, strength, stability, porosity control, and others are the key factors that are expected to increase the demand for woven technical textiles during the forecast period. There has been an increase in the use of woven textiles in heavy applications such as highway engineering, railroad construction, airport runway construction, and others in the last decade, which in turn is expected to fuel the growth of the woven technical textiles market in the upcoming years.
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The MobilTech segment to maintain its lead position during the forecast period.
Based on the end-use application, the MobilTech segment accounted for the largest share in 2022, contributing to more than one-sixth of the global technical textile market revenue. Woven textiles are classified on the basis of weave, thread density, number of yarns & crimps, and others. Durability, strength, stability, porosity control, and others are the key factors that are expected to increase the demand for woven technical textiles during the forecast period. There has been an increase in the use of woven textiles in heavy applications such as highway engineering, railroad construction, airport runway construction, and others in the last decade, which in turn is expected to fuel the growth of the woven technical textiles market in the upcoming years.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global technical textile market and is projected to register the highest CAGR of 6.2% during the forecast period. The technical textile market is expected to witness considerable growth in the coming years in India, owing to numerous factors such as developing end-user sectors, rise in awareness, government initiatives, investment in technology, and others. Some of the developing end users include healthcare, automotive, construction, and others.
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Leading Market Players: -
- Bruck Textiles
- Gelvenor Textiles
- NIKOL Advance Materials Pvt. Ltd
- Sanrhea Technical Textiles Limited
- Arville Textiles Limited
- L. van Heek Textiles bv
- HiltexTechnischeWeefsels B.V.
- Aurich Textiles GmbH
The report provides a detailed analysis of these key players in the global technical textile market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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