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Technical Textile Market to Reach USD 195.36 Billion by 2026; Rising Popularity of Fibers Derived from Plants will Help Aid in Expansion of Market.

May 05, 2020 | Chemicals & Materials

The global technical textile market size is anticipated to reach USD 195.36 billion by 2026 on account of the increasing demand for materials such as cotton, wool, and silk derived from plants. Technical textile is products that are produced for non-aesthetical purposes such as hygiene medicals in healthcare setups, such as clothing or construction material, and others and can be produced either as an impregnated material or a composite. Fortune Business Insights™ in their recent report titled, “Technical Textiles Market Size, Share & Industry Analysis, By Product Type (Agrotech, Buildtech, Clothtech, Geotech, Hometech, Indutech, Medtech, Mobiltech, Packtech, Protech, Sporttech and Oekotech), By Fiber Type (Natural Fiber and Synthetic Fiber), By Product Form (Fabric, Fiber, and Yarn) and Regional Forecast, 2019-2026,” predicts that the market value stood at USD 159.29 billion in 2018 by exhibiting a CAGR  of 2.7% within the forecast period 2019 to 2026.


Sage Interiors to Acquire Adient, thereby Adding Impetus to Market


An Asahi Kasei Company Sage Automotive Interiors entered into a collaboration with the automotive interior market of Adient in March 2020. This collaboration aims at expanding the overall capability and capacity of automotive interior products in Europe by supplying cut and sew facilities for automotive in Eastern and Central Europe. CEO of Sage Automotive Mr. Dirk Pieper says, “Europe is the hub for Sage Automotive Interior products. We are now trying to implement technology for strengthening our product portfolio and this will help to serve our consumers from various corners of Europe and the rest of the world.” Such innovations are likely to bode well for the market in the forthcoming years.”


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/technical-textiles-market-102716


Advent of Nanotechnology will Create Lucrative Growth Opportunities for Market


The multi-dimensional properties of technical textiles such as high strength, versatility, durability, and lightweight nature serve as the major factors driving the technical textiles market growth. Additionally, the increasing demand from applications such as the medical industry, packaging, and construction industry, among others will also boost the market. Moreover, government support for promoting the use of textiles for various applications may also augment the growth of the market in the forecast period.


On the flip side, factors such as high cost, specific technical requirements, and lack of skilled manpower may pose major challenges to the market. Nevertheless, the advent of nanotechnology and other latest methods adopted for better revenue will help to create lucrative growth opportunities for the market in the coming years.


Fragmented Nature of Market will Intensify Competition


The market for technical textiles witnesses the presence of many players. Therefore, the competitive landscape of the market is fragmented in nature. These vendors are investing heavily in the adoption of the latest technology and engaging in collaborative efforts such as mergers and acquisitions, contracts and agreements, among others to attract high technical textiles market revenue in the forecast duration. Players are also struggling to expand their geographical reach and offer a diverse portfolio to gain momentum in the market competition. Such initiatives are further projected to intensify the overall market competition in the near future.


Key Industry Developments of Technical Textiles Market include the following:



  • September 2019 – A new state-of-the-art facility by Cortland Biomedical was launched in New York for the development of textile products for the healthcare industry. The main objective of this facility is to produce high-quality medical textile products.


List of Important Technical Textiles Market Manufacturers are:



  • Johns Manville

  • DELCOTEX DELIUS TECHTEX GMBH & CO. KG

  • DuPont de Nemours, Inc.

  • Freudenberg Group

  • Arrow Technical Textiles Private Limited

  • Johns Manville

  • Asahi Kasei company

  • TenCate Fabrics

  • SRF Limited

  • Officine Maccaferri S.p.A.

  • Milliken & Company

  • SKAPS Industries

  • Strata Geosystems

  • HUESKER Group

  • International Fibres Group

  • Terram (Berry Global)

  • Other Players


Further Report Findings



  • Asia Pacific held the dominant technical textile market share with the bulk availability of raw materials. On the other side, North America earned a revenue of USD 44.18 billion in 2018 owing to the well established industrial sector.

  • With respect to segmentation by product, the market is dominated by the cloth tech segment. However, the indutech segment earned a 12.0 % share in 2018.


Global Technical Textile Market is categorized into:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion) Volume (Million Tons)



Segmentation



By Product Type



  • Agrotech

  • Buildtech

  • Clothtech

  • Geotech

  • Hometech

  • Indutech

  • Medtech

  • Mobiltech

  • Packtech

  • Protech

  • Sporttech

  • Oekotech



By Fiber Type



  • Natural Fiber

  • Synthetic Fiber



By Product Form



  • Fabric

  • Fiber

  • Yarn



By Geography



  • North America (the U.S. and Canada)

  • Europe (Germany, UK, France, Italy, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, South Korea and the Rest of Asia- Pacific)

  • Latin America (Brazil, Argentina, Mexico and the Rest of Latin America)

  • Middle East & Africa (GCC, South Africa, and the Rest of Middle East & Africa)


Technical Textile Market
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  • 2018
  • 2015-2017
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