The global technical textile market is projected to grow at a CAGR of 5.16% to reach US$244.172 billion by 2024, from US$180.579 billion in 2018. Technical textiles are functional fabrics that are being utilized by a number of industries such as automobiles, civil engineering and construction, agriculture, healthcare, and personal protection among others. The growing use of these fabrics among different end-users is driving market growth. With geotextiles gaining popularity in the building and construction sector, the demand for technical fabrics is poised to grow in the upcoming years. Also, the burgeoning trend of making vehicles lightweight is set to boost the demand for the non-woven technical textiles, thus accelerating the market growth. Thus, the market for these textiles is poised to grow at a substantial rate on account of its increased usage in industries such as healthcare, automotive and agriculture sector. Geographically, Asia Pacific is expected to hold a significant share in the market on account of rapid urbanization and industrialization in the region and this coupled with a good growth of the automotive sector is expected to bolster the market growth in the upcoming years.
Burgeoning demand for these textiles from various end-user industry
Investments in building and construction
Increased focus towards worker’s safety
Availability of substitutes
In May 2017, Sieon Industries acquired technical textile manufacturer James Dewhurst Group.
The major players profiled in the global technical textile market include Asahi Kasei Advance Corporation, DowDuPont, Mitsui Chemicals, Inc., ITG Company, TenCate Geosynthetics, TORAY INDUSTRIES, INC., Habasit, Low and Bonar, 3M, and Ahlstrom-Munkjö.
|Market size value in 2018||US$180.579 billion|
|Market size value in 2024||US$244.172 billion|
|Growth Rate||CAGR of 5.16% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Material, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Asahi Kasei Advance Corporation, DowDuPont, Mitsui Chemicals, Inc., ITG Company, TenCate Geosynthetics, TORAY INDUSTRIES, INC., Habasit, Low and Bonar, 3M, Ahlstrom-Munkjö|
|Customization scope||Free report customization with purchase|
The global technical textile market has been analyzed through the following segments:
Middle East and Africa
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