The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The technical textile market is estimated at USD 164.6 billion in 2020 and is projected to reach USD 222.4 billion by 2025, at a CAGR of 6.2%. It is projected to grow over the next five years. Factors such as improving economic condition of countries, technology advancement, and increasing end-use application are expected to drive the technical textile market in the future. Increasing demand for end-use industries such as healthcare, construction, clothing, packaging, sportswear and sports equipment, automotive, environmental protection and other such areas is expected to drive the overall technical textiles market growth from 2020 to 2025.
“Based on material, the synthetic polymer segment is estimated to account for the largest share of the technical textile market in 2019”
The synthetic polymer segment is estimated to lead the technical textile market in 2019; this segment is projected to retain its leading position through 2025. This growth can be attributed to the superior quality it offer. Whereas, natural fibers is projected to grow at the highest CAGR during the forcast period owing to its easy availability and low cost of material.
“Based on application, the mobiltech segment is estimated to account for the largest share of the technical textile market in 2019”
Based on application, the technical textile market has been segmented into mobiletch, meditech, hometech, buildtech, agrotech, packtech, protech, indutech, oekotech, geotech, clothtech, and sportech. The mobiltech segment is estimated to lead the technical textile market in 2019. Whereas, the meditech segment is projected to grow at the highest CAGR during the forecast period. The availability of modern healthcare to the global population is driving the demand for efficient technical textile products as they provide higher performance as compared to that of the traditional paper-based products in the healthcare industry.
“In terms of both value and volume, the Asia Pacific technical textile market is projected to grow at the highest CAGR during the forecast period.”
In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand for the nonwoven products from countries such as China, India, and Japan. The demand for technical textile is expected to be fuelled by rapid urbanization in emerging economies such as India and China. Increased construction spending in emerging counties is expected to trigger the demand for technical textiles in buildings and construction which in turn is expected to drive the growth of the market in the region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the technical textile market.
- By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
- By Designation: C-level: 40%, D-level: 35%, and Others: 25%
- By Region: North America: 20%, Europe: 35%, Asia Pacific: 25%, Middle East & Africa: 15%, and South America: 5%
The market study covers the technical textile market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on material, technology, application, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the technical textile market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall technical textile market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.