Technical Textile Market worth $222.4 billion by 2025 – At a CAGR of 6.2%
According to a new market research report, the “Technical Textile Market by Material (Natural Fiber, Synthetic Polymer, Metal, Mineral, Regenerated Fiber), by Process (Woven, Knitted, Non-woven), by Application (Mobiltech, Indutech, Protech, Buildtech, Packtech), and Region – Global Forecast to 2025″, The global technical textile market size is projected to grow from USD 164.6 billion in 2020 to USD 222.4 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market has grown exponentially in the last few years, and this trend is projected to continue. The growing awareness about the superior functionality and application of technical textiles encourages the higher consumption of technical textiles and related products. Furthermore, growth in the automobile, construction, healthcare, packaging and various other sectors has generated new opportunities for technical textiles.
This report also provides a comprehensive analysis of the companies listed below:
Asahi Kasei (Japan), Kimberly Clarke (US), Berry Global Group (US), DuPont (US), Mitsui Chemicals (Japan), Freudenberg & Co. (Germany), Low & Bonar (UK), Huntsman (US), Toyobo Co. (Japan), Milliken & Company (US), SRF Limited (India), Koninklijke Ten Cate (Netherlands), and International Textile Group (US)
COVID-19 impact on the global technical textile market
The outbreak of COVID-19 has affected the demand as well as the manufacturing in supply regions. The COVID-19 crisis has affected the chemical industry supply chain to a major extent; thus, having a major impact on raw material procurement. The above factors have impacted the growth of the technical textile market. However, this pandemic resulted in a sudden increase in demand for medical apparel such as gowns, masks, and others, which positively affected the demand for technical textiles.
The nonwoven segment is expected to grow at the highest CAGR during the forecast period
Based on the process, the nonwoven segment is expected to be the fastest-growing during the forecast period. Additionally, advancements in weaving technology such as 3D weaving are expected to drive the technical textile segment during the forecast period.
The APAC region is projected to account for the largest share of the technical textile market during the forecast period.
The APAC region is projected to lead the technical textile market, in terms of both value and volume from 2020 to 2025. Higher domestic demand, along with the availability of low-cost labor, makes this region the most attractive market for technical textile manufacturers. Hence, the market players are focusing on this region to gain a larger share and increase their profitability. Factors such as improving the global economy, expanding working population, and rising domestic demand for hygiene products are expected to boost the market for technical textiles.
Download PDF Brochure: