November 29, 2019
According to the research report titled ‘Global Technical Textile Market: Analysis By Type (Woven Textiles, Non-Woven Textiles), End-User Segments (Packtech, Mobiltech, Meditech, Geotech, Buildtech), By Region, By Country (2018 Edition) Forecast to 2023’ available with Market Study Report LLC, the global technical textile market is estimated to grow with a CAGR of 4.9% during the period of 2018-2023.
For the record, a technical textile is a textile product which is produced not for aesthetic purposes, but where the primary criterion is functionality. Technical textiles include automotive textiles, medical textiles, geotextiles, agrotextiles, and protective clothing.
Rising adoption of textile products in housing, hospitality, and healthcare sectors, coupled with growing environmental concern, and rising preference for biodegradable products are major factors driving the growth of the technical textile market for the forecast period.
As per product type, technical textile market is categorized into woven textiles and non-woven textiles, whereas in terms of end user spectrum, the market is divided into mobiltech, packtech, geotech, meditech, and buildtech. According to the report, technical textile market from packtech segment is anticipated to register significant growth over the forecast period, due to increasing awareness regarding the use of biodegradable packaging and surging need for reusable packages.
Considering the geographical landscapes, the global technical textile market is divided into regions namely, Europe, North America, Asia-Pacific, and rest of the world, with key focus on countries such as Canada, US, Mexico, France, Germany, Italy, China, and Japan.
The report cites that Asia-Pacific technical textile market held the largest regional share in 2018 and is presumed to witness lucrative growth opportunities during the analysis timeline, owing to escalating expenditure on healthcare, along with rising per capita income, rapid urbanization, and growing infrastructural developments across the region.
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The key players in the global technical textile market are Royal Tencate NV, Freudenberg Group, Low & Bonar, Kimberley Clarke, SRF Ltd., Ahlstrom-Munksjö, 3M, Asahi Kasei Corp., TWE Group GmbH, and DowDuPont.
Notably, the research report on technical textile market provides potential growth opportunities in the market, as well as offer significant information on each segment share, prevailing trends, alongside the information regarding market dynamics.
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