Future Market Insights has announced the addition of the "Technical Textiles Market: Global Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
London, UK -- (SBWIRE) -- 05/26/2015 -- Technical textiles are used for non- aesthetic purposes and are high performance textile products known for their specialty functions. Technical textiles are different from conventional textiles which are used for decorative purposes. Technical textiles excel in their performance and are woven or non-woven from synthetic and natural fibers. The global technical textiles market is expanding with the ever increasing end use applications of technical textile products in diverse fields of agriculture, automobile, healthcare, transportation, construction as it is been seen as a product beyond clothing application.
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The global technical textiles market is expected to grow two fold by 2020, as the demand of technical textile is growing at robust pace. The key driver for the growth of global technical textile market is growing population worldwide, rising purchasing power of consumers in developing countries and increasingly adoption of technical textiles across the various industry. However, frequent changes in raw material prices and low degree of preference remains the major challenge confronting the growth of global technical textiles market. On the basis of geography the global technical textile market is segmented into seven key regions which are North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. Asia-Pacific technical textile market accounted for largest share in global technical textile market in 2013 due to population explosion in the continent. Americas holds the second largest share in the global technical textile market followed by Europe and other region. In terms of growth Asia-Pacific is projected to grow with a double digit CAGR for the forecast period due to improving economic conditions such as rising GDP, income levels of individual and booming manufacturing sector in India and China.
On the basis of application the global technical textile market is broadly segmented into 12 categories which are agrotech, packtech, protech, sporttech, medtech, buildtech, clothtech, geotech, indutech, mobiltech, hometech and oekotech. The majority of share in global technical textile market is held by mobiltech which are technical textiles majorly used in transportation. Mobiltech includes technical textiles in seat belts, seat covers, composite panels, car covers, carpets and airbags. Also indutech are one of the largest technical textiles used in industrial purposes such as separation, purification, material exchanges and as substrates. Sporttech is the next largest application of technical textiles wherein technical textiles are used for protective and comfortable gear manufacturing in different sports.
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Technical textiles are as important as metals owing to its multidisciplinary functions and high level of physical, mechanical and chemical resistance. Today technical textiles are being continuously utilized as one of the components in a product. For instance, meditech uses technical textiles in surgical fabrics and it cannot be replaced by other conventional textiles. In packtech, technical textiles are important due to its effective protective covering in sacks, bags or parcels. Also the world is moving towards eco- friendly nature and plastics as packing material is being avoided. Another driver is the rise in ecommerce companies in emerging nations means a large demand for packaging material. Such a scenario seems to be favourable for packtech textiles.
The companies involved in the production of technical textiles are – DuPont Chemicals Company, Ahlstrom Corporation, Polymer Group Inc., Freudenberg & Co. KG, TWE Group to name a few. There is an increasing level of research in the field by technical textile manufacturers irrespective of their size. These companies are coming together for technical textile clusters for enhancing research and innovation in the field. These companies have to perform for the growing needs of the textile companies which are evolving such as active lifestyle requirements (hometech), protective clothing (clothtech), monitoring solutions in houses (homtech) and so on.
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