A new report by Reports and Data estimates that the global technical textile market will reach USD 268.97 Billion by 2028. Technical textiles are functional fabrics used in a variety of industries, such as construction, home textiles, automobiles, and medical. These textiles have improved properties compared to conventional textiles.
The demand for technical textiles is rising in the construction and automotive industries for products such as insulating materials, rubber, floor coverings, and protective gear. There is also an increasing demand for geotextiles, which is boosting the economy of technical fibers. While technical textiles generate a lot of toxic waste, they are recyclable. However, the high cost of raw materials and finished goods is a restraint for the technical textile market.
Advancements in the technical textile market have enhanced the efficiency of technical textiles, creating opportunities for market growth. The European market is shifting towards the textile market due to the use of technical textiles in applications such as mobil tech and oeko tech. Germany is the largest market leader in Europe, producing 50% of the region’s technical textiles.
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The report's key findings indicate that natural fibers held a market share of 26.2% in 2018 and have a smaller carbon footprint, can be degraded by micro-organisms, and support organic farming. Woven textiles held the largest market share of 35.6% in 2018 and have applications in construction, clothing, automobiles, and medical industries. Mobiltech is forecasted to have the highest compound annual growth rate (CAGR) of 8.9% due to the high demand for cars because of urbanization. The Asia Pacific region is forecasted to have the highest CAGR of 5.9% during the forecast period, with India, China, and Japan catching up with the growth in the technical textile market. The key participants in the market include Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, Koninklijke Ten Cate, International Textile Group, Toyobo Co., SRF Limited, Lanxess, and DuPont among others.
The report has segmented the global technical textile market based on material type, process type, application, and region. Material types include natural fiber, synthetic polymer, regenerated fiber, mineral, metal, and specialty fiber. Process types include woven, non-woven, knitted, and others. Applications include mobitech, indutech, sporttech, buildtech, hometech, geotech, clothtech, and others. Regions include North America, Europe, Asia Pacific, MEA, and Latin America.
Technical Textile Market: Drive factors
The global technical textile market is expected to grow to USD 268.97 Billion by 2028, driven by factors such as increasing demand for technical textiles in various industries including construction, home textile, automobiles, and medical, due to their enhanced properties over conventional textiles. The market is also influenced by rising demand for insulating products, rubber, floor coverings, and protective gear from the construction and automotive sectors.
Geotextiles have seen a sudden rise in demand, further boosting the economy of technical fibers. However, the market is limited by the high cost of finished goods and raw materials, as well as the unfavorable effects of technical textiles.
Despite these limitations, consistent advancements in the technical textile market through innovative efforts have enhanced the efficiency of technical textiles. Europe's demographic shift towards the textile market, particularly in mobil tech and oeko tech, has resulted in a growing market, with Germany being considered as Europe’s largest market leader.
The report also identifies key findings such as natural fibers holding a market share of 26.2% in 2018 due to their essential raw material usage and eco-friendly properties. Woven process held the largest market share of 35.6% in 2018, with mobiltech being forecasted to grow with the highest CAGR of 8.9%. The Asia Pacific region is forecasted to grow with the highest CAGR of 5.9% during the forecast period due to increased demand in the automobile sector. Key participants in the market include Asahi Kasei, Berry Global Group, Mitsui Chemicals, Kimberly Clarke, and DuPont among others.
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