San Francisco, 25
October 2018: The global technical
textiles market is expected to reach USD 193.16 billion by
2022, according to a new report by Grand View Research, Inc. Growth of key
end-use industries such as agriculture, construction, packaging and automotive
in BRIC nations is expected to remain a key driving factor for global technical
textiles market. Being one of the most innovative branches of industry across
the world is expected to create new avenues for market participants.
Introduction of environmental regulations on conventional petroleum based
technical textiles usage directly impacted the global market. Technical
textiles are used in almost all modern industries including furniture,
automotive, footwear, textiles and others.
3D weaving was the leading technology and
accounted for 25.2% of total market volume in 2014. Nanofiber is expected to
witness the highest growth of 4.1% from 2015 to 2022. Growth of nanotechnology
across various end-use industries is expected to drive this segment over the
forecast period.
Access
Research Report of Technical Textiles
Market@ www.grandviewresearch.com/industry-analysis/technical-textiles-market
Further key findings from the report suggest:
· Global technical textiles market demand was
26,58 million tons in 2014 and is expected to reach 35.47 million tons by 2022,
growing at a CAGR of 3.7% from 2015 to 2022
· Mobiltech was the leading application
segment and accounted for 15.2% of total market volume in 2014. Growing demand
for high performance materials from automotive industry is expected to remain a
key driving factor for this segment over the forecast period.
· Meditech, is expected to witness the
highest growth of 4.6% from 2015 to 2022. Increasing healthcare expenditure in
China and India coupled with presence of sophisticated healthcare
infrastructure in most parts of Europe and North America is expected to drive
this segment over the next seven years.
· Asia Pacific dominated the global technical
textiles market with demand share exceeding 45% in 2014. Growing
industrialization, increasing access to medical care and huge infrastructure
spending particularly in China, India, Indonesia and Thailand is expected to
drive regional growth.
· Technical textiles have higher production
cost as these are manufactured from advanced superior raw materials. Basic
textiles use natural and synthetic raw materials in their manufacturing
process. However, wide range of applications gives the overall market an upper
hand in terms of competitive analysis.
· Global technical textiles market is
dominated by top multinational corporations which are present across the value
chain. Major companies have been investing in R&D to avoid volatile
petroleum prices and uncertainty regarding their availability. Frequent joint
ventures and strategic partnerships are witnessed which is expected to increase
their market share. E.I du Pont de Numours & Company, Avintiv, Kusumgar
Corporates, SRF, Ahlstrom, Ibena Textilewerke GmbH, Johnson & Johnson,
Procter & Gamble and 3M are some key companies operating in the global
market space.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/smart-textiles
Grand View Research has segmented the
technical textiles market on the basis of technology, end-use and region:
Global Technical Textiles Technology
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Thermo-forming
·
3D Weaving
·
3D Knitting
·
Nanofibers
·
Heat-set Synthetics
·
Finishing Treatments
·
Hand-made elements
·
Others
Global Technical Textiles End-use Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Mobiltech
·
Indutech
·
Sportech
·
Buildtech
·
Hometech
·
Clothtech
·
Meditech
·
Agrotech
·
Protech
·
Packtech
·
Others
Technical Textiles Regional Outlook (Volume
Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Press Release of
Technical Textiles Market@ www.grandviewresearch.com/press-release/global-technical-textiles-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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