IMARC Group, a leading market research company, has recently released a report titled “Technical Textile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global technical textile market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Technical Textile Market?
The global technical textile market size reached US$ 195.08 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 262.60 Billion by 2028, exhibiting a growth rate (CAGR) of 4.99 % during 2023-2028.
What is Technical Textile?
Technical textiles are used for specific technical functions and applications beyond traditional clothing, aesthetics, and furnishing. They are lightweight, durable, robust, and resistant to abrasion and extreme climatic conditions. Technical textiles exhibit waterproofing and breathability properties and protect against harmful ultraviolet (UV) radiation. They are used to manufacture airbags, composites, smart textiles, geotextiles, sensors, and wearable technology. These textiles are also used in the aerospace, sports, construction, and agriculture industries.
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What are the Growth Prospects and Trends in the Technical Textile Industry?
The expanding automotive industry and the widespread adoption of the product in the manufacturing of lightweight vehicles with optimal fuel efficiency are among the key factors driving the technical textile market. Moreover, the rising sales of hybrid and electric vehicles (H/EVs) are also stimulating the market growth. Besides this, the increasing disposable medical clothes and the expansion of hospitals and healthcare centers across the globe are acting as significant growth-inducing factors. Furthermore, the integration of advanced technologies in textile manufacturing procedures to develop innovative materials with more enhanced features is further propelling the global market. Apart from this, the rising cases of construction site accidents and the growing prevalence of numerous infectious diseases are catalyzing the demand for personal protective equipment (PPE), which is positively influencing the market growth. Additionally, the escalating demand for sustainable and eco-friendly technical textiles across industries, on account of the increasing environmental concerns, is also fueling the global market. In addition to this, the inflating focus of leading market players on strategic collaborations and mergers and acquisitions to expand their market reach and improve overall profitability is anticipated to fuel the technical textile market over the forecasted period.
Who are the Key Players Operating in the Technical Textile Market?
The report has also provided a comprehensive analysis of the competitive landscape in the global technical textile market. Some of the companies covered include.
- 3M Company
- Asahi Kasei Advance Corporation (Asahi Kasei Corporation)
- Barry Global Inc.
- DuPont de Nemours Inc.
- Duvaltex Inc.
- Freudenberg & Co. KG
- Hindustan Mills Limited
- HUESKER Synthetic GmbH
- Huntsman Corporation
- Milliken & Company
- SKAPS Industries
- SRF Limited (Kama Holdings Ltd.)
What is Included in Market Segmentation?
The report has categorized the market based on material, process, and application.
- Natural Fiber
- Synthetic Polymers/Fibers
- Polyether Sulfone (PES)
- Polyamide (PA)
- Polyacrylonitrile (PAN)
- Polypropylene (PP)
- Mineral Fiber
- Glass Fiber
- Ceramic Fiber
- Regenerated Fiber
- Metal Fiber
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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