Technical textiles are versatile textile materials and products manufactured for non-aesthetic applications and performance. They are used in applications such as agriculture, infrastructure, transport, medicine, protective clothing and more. With technological advancements and growing demand across sectors, technical textiles prove to be an indispensable material.
The global technical textile market is estimated to be valued at US$ 5270.95 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global technical textile market is projected to witness high growth owing to rising usage in medical textiles. Medical textiles find a wide range of applications including surgical goods, hygiene products and wound care. With rising focus on healthcare infrastructure and surging healthcare spending worldwide, demand for medical textiles is increasing at a rapid pace. Concurrently, growing elderly population and prevalence of chronic diseases that require surgical procedures and implants further augment the demand. Another key driver fueling the market growth is rising construction activities across developing regions of Asia Pacific, Latin America, Middle East and Africa. Technical textiles play a vital role in construction sector by offering reinforcement, abrasion resistance and durability in infrastructure construction. Increasing investment in development of roads, railways, bridges and buildings boost the consumption of technical textiles in construction applications.
SWOT Analysis
Strength: Technical textiles have several properties that make them suitable for a variety of applications. Their high strength, durability and functionality are useful across sectors like infrastructure development, transportation, healthcare and defense. They help improve the performance of end products and offer cost savings. Technical textiles also help reduce environmental impact as they are recyclable and reusable.
Weakness: High costs are involved in R&D, testing and certification of technical textiles. Smaller companies may find it difficult to bear such expenses. Dependency on raw material prices is also a weakness as fluctuations can impact product costs.
Opportunity: Growing infrastructure and construction sectors offer significant opportunities for technical textiles. The transportation industry is also expanding which will drive demand. Rapid urbanization and modernization in developing nations provide a platform for market growth. Increasing healthcare needs of aging populations across regions presents new application areas.
Threats: Stiff competition from substitute materials poses a threat. Technologies like 3D printing may disrupt established value chains over time. Trade wars and barriers can negatively impact sourcing and supply chains. Economic slowdowns can reduce demand from end use industries.
Key Takeaways
The global technical textile market is expected to witness high growth over the forecast period driven by rising requirements across sectors. Global Technical Textile Market Demand is estimated to be valued at US$ 5270.95 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific currently dominates the technical textile market owing to large production and consumption in countries like China, India and Japan. The region’s rapidly expanding manufacturing and construction industries are major demand generators. North America and Europe are other major regional markets driven by developed end use industries in the US, Germany, UK and France.
Key players: Key players operating in the technical textile market are Koninklijke Philips NV, Dymedix Diagnostics, Medtronic PLC, CooperSurgical Inc., Cognionics Inc., Ambu A/S, 3M Company, Nihon Kohden Corporation, CONMED Corporation, and Natus Medical Incorporated, among others. Players are focusing on product innovation and the development of specialty materials to strengthen their positions.
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The report "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.♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1074Browse 200 market data Tables and 55 Figures spread through 248 Pages and in-depth TOC on "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"♦ PREMIUM INSIGHTS - 4.1 EMERGING ECONOMIES TO WITNESS RELATIVELY HIGHER DEMAND FOR TECHNICAL TEXTILE FIGURE 15 EMERGING ECONOMIES OFFER ATTRACTIVE OPPORTUNITIES IN THE TECHNICAL TEXTILE MARKET 4.2 APAC: TECHNICAL TEXTILE MARKET, BY APPLICATION AND COUNTRY FIGURE 16 CHINA WAS THE LARGEST MARKET IN APAC IN 2019 4.3 TECHNICAL TEXTILE MARKET, BY MATERIAL FIGURE 17 SYNTHETIC POLYMER TO LEAD THE MARKET DURING THE FORECAST PERIOD 4.4 TECHNICAL TEXTILE MARKET, BY PROCESS FIGURE 18 NONWOVEN PROCESS TO GROW AT THE HIGHEST RATE IN THE MARKET 4.5 TECHNICAL TEXTILE MARKET, BY APPLICATION FIGURE 19 MOBILTECH TO BE LARGEST APPLICATION IN THE MARKET 4.6 TECHNICAL TEXTILE MARKET, BY COUNTRY FIGURE 20 TECHNICAL TEXTILE MARKET IN INDIA TO GROW AT THE HIGHEST CAGROn May 2020, Berry Global has announced an expansion of its Meltex melt-blown capacity, with the addition of an asset to support the growing demand for face masks during COVID-19.
The new line will focus on the manufacturing of nonwoven protection materials and filter materials for premium FFP2 (N95) and FFP3 (N99) grade filter media.On April 2020, Ahlstrom-Munksjo has increased its nonwoven production across its entire protective materials portfolio, in response to COVID-19.
The company has expanded its product offering of protective materials for all three face mask categories- civil masks, surgical masks, and respiratory masks.♦ Request Sample Pages – https://www.marketsandmarkets.com/requestsampleNew.asp?id=1074 Key Market PlayersThe technical textile market is dominated by a few globally established players, such as Asahi Kasei (Japan), Kimberly Clarke (US), Berry Global Group (US), DuPont (US), Mitsui Chemicals (Japan), and Freudenberg & Co. (Germany).
