The global technical textile market was valued at $234,715 million in 2017, and is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. A technical textile is a type of material, which is developed to meet the specified high-performance needs of a particular application. In addition to their aesthetic characteristics, technical textile products and materials possess enhanced mechanical, electrical, durable, thermal, and functional properties which makes them usable in various end-use industries such as automotive, construction, industrial, medical and others.
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The global technical textile market is witnessing significant growth, owing to extensive applications of technical textiles across various end-use industries such as agriculture, clothing, packaging & furnishing, automobiles, filtration, construction, and environmental protection.
The technical textile market is expected to grow at a significant rate during the forecast period, due to rise in demand for technical textile products across many countries. In addition, in the emerging economies, majority of the consumption of the technical textiles will be through imports, while some countries have their own production facilities.
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The growth of the global technical textile market is driven by increase in production of automobiles, rise in construction activities, and upsurge in demand from the healthcare sector. Moreover, the market is expected to experience considerable growth with government legislations mandating the use of geosynthetic textiles in various infrastructure development projects.
Furthermore, increase in urbanization & industrialization, rise in income levels, expansion of production base, growth in middle class population, and surge in aging population are the macroeconomic factors that boost the market growth. However, protection policies such as high tariffs limit the demand for technical textile products to be exported. In addition, with high cost of raw materials and finished products, the pricing structure is affected, and is likely to remain a key challenge for market participants. Conversely, the emergence of new technologies such as e-textile, increase in importance for geotextiles, and development of the manufacturing sector are expected to provide an ample of opportunities for the product manufacturers during the projected period.
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The global technical textile market is segmented based on type, material type, end-use application, and region. On the basis of type, the market is divided into woven, nonwoven, and others (weaving, knitting, and braiding). By material type, it is bifurcated into uniform and composite. Depending on end-use application, it is fragmented into the following sectors, namely, AgroTech, BuildTech, ClothTech, GeoTech, HomeTech, InduTech, MediTech, MobilTech, OekoTech, PackTech, ProTech, and SportTech. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players include DowDuPont, Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindoostan Mills. The other players operating in the global technical textile market are Low & Bonar, Lanxess, and Berry Global Group. Ahlstrom Corporation acquired Munksjo in November 2016 to expand its business in the technical textile market.
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Key Benefits for Technical Textile Market:
The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global technical textile market from 2017 to 2025 to determine the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the global technical textile market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the global technical textile marketalso experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.
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The degree of competition among prominent global companies has been developed by analyzing several leading chemical market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies
Technical Textile Key Market Segments:
By End-use Application
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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Key questions answered in the global technical textile market report are:
How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the chemical market over the forecast period?
What are the factors driving and restraining the market for chemicals?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?’
This report covers aspects of the regional analysis market.
The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
This report analyzes current and future market trends by region, providing information on product usage and consumption.
Reports on the market include the growth rate of every region, based on their countries over the forecast period.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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