Technical Textile Market Size – USD 175.97 Billion in 2018, Market Growth – CAGR of 4.4%, Technical Textile Industry Trends – The advent of recyclable technical textiles.
/EIN News/ — New York, Oct. 01, 2019 (GLOBE NEWSWIRE) — The increasing demand for construction industries owing to the rise in demand for consumers and growth in population is propelling the market growth.
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.
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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.
- 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.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/technical-textile-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Technical Textile market on the basis of material type, process type, application, and region:
Material Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Natural Fiber
- Synthetic Polymer
- Regenerated fiber
- Specialty fiber
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
Browse more similar reports on Textiles category by Reports And Data
Textile Chemicals Market – https://www.reportsanddata.com/report-detail/textile-chemicals-market
Antimicrobial Medical Textiles Market – https://www.reportsanddata.com/report-detail/antimicrobial-medical-textiles-market
Coated Fabric Market- https://www.reportsanddata.com/report-detail/coated-fabric-market
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