Technical Textile Market Expected to Hit US$ 160.38 Billion by 2018 : Transparency Market Research
Technical Textiles Market (Mobiltech, Buildtech, Meditech, Agrotech and Others) By Technology (Thermoforming, 3-D Weaving, 3-D Knitting and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, NY -- (SBWire) -- 01/27/2015 --The recent report "Technical Textile Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018" by Transparency Market Research reveals that the global technical textile market that was worth US$ 133.93 billion in 2012 is expected to reach up to US$160.38 billion by 2018. It also predicts that in terms of volume the global demand will grow at a temperate CAGR of 3.3% from 2012 to 2018 and reach 30.71 million tons by the end of 2018. TMR, a market research firm based in US, states in the report that the market for technical textile is geared up to experience a quantum rise in the demand for its products. This can be attributed to the increasing application base in various end user industries such as healthcare, agriculture, construction, clothing, sports, equipments, sportswear and packaging etc.
The report says that the technical textile market has ranked among the top 5 technology intensive markets given its greater potential in comparison to regular textiles The report contains a detailed analysis of how innovation through research and product development was instrumental in enhancing product properties and durability. It also includes the scope of expansion for nanotechnology and major drawbacks faced by the market that affected the end user industry pricing pattern.
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According to the report, the global market for technical textile is segmented into eleven distinct categories based on end user, which are Mobitech, Protech, Buildtech, Hometech, Packtech, Indutech, Clothtech, Meditech, Sportech and Agrotech. Additionally the market is segmented into eight sub divisions based on the manufacturing technology they employ. These include segments like thermoforming, three dimensional weaving, fabrics churned using the nanotechnology, three dimensional knitting, finishing treatments, heat-set synthetics, handmade elements and others. The market for technical textile is segmented further on the basis of geography which covers, North America, Asia Pacific, Europe and Rest of the World (RoW).
Asia Pacific has been the key player in the technical textile market for quite some time now and the region will continue to remain at the helm in forthcoming years as well. According to the facts published in the report Asia Pacific accounted for over 45% of the global technical textiles market in 2011. By 2018 the region is expected to surpass other regions by a considerable margin. As per the report Asia Pacific is all set to generate whopping revenue of about US$ 61.26 billion. Given the enhanced technological capabilities, steady rise in demand from various industrial pockets of end users and supportive structure from various governments, the technical textile industry is expected to have a huge market to cater to with Asia Pacific emerging as a clear leader.
The details about key market players in the industry like Kimberly-Clark Corporation, Freudenberg & Co. KG, Ahlstrom Corporation, DuPont and many others are also included in the report.
Browse the full Global Technical Textiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/technical-textiles-market.html
The report presents an in-depth analysis and research to help technical textile manufacturers, lawmakers, large retailers, and research and development agencies to take informed decisions pertaining to the manufacture, designing and marketing of technical textiles. It will also allow the manufacturers to determine growth strategies that will help them achieve competitive advantage.
About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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