Reportocean.com have announced the addition of a new report titled "Global Technical Textile Market and Forecast to 2025"
Delhi, India -- (SBWIRE) -- 12/02/2019 -- Based on the latest insights in the report title "Technical Textile Market, by Type (Woven, Nonwoven, and Others), Material Type (Uniform and Composite), and End-use Application (AgroTech, BuildTech, ClothTech, GeoTech, HomeTech, InduTech, MediTech, MobilTech, OekoTech, PackTech, ProTech, and SportTech): Global Opportunity Analysis and Industry Forecast, 2018 - 2025" by Report Ocean, the Market is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5%.
Highly driven by extensive applications of technical textiles across verticals such as clothing, agriculture, automobiles, packaging & furnishing, construction, filtration, and environmental protection, the global technical textile market is anticipated to witness massive gains in the coming years.
The technical textile market is estimated to record a significant growth in the coming years, and the market growth can be highly contributed to the surging demand for technical textile products across the globe. The rising production of automobiles, increasing demand from the healthcare industry, and booming construction activities are some of the major factors propelling the growth of the technical textile market growth during the anticipated timeframe. With government regulations imposed on the use of geosynthetic textiles in infrastructure development projects, the market will attain massive gains in the coming years.
Rapid industrialization and urbanization, expansion of production base, rising income levels, upsurge in the geriatric population, and growth noticed in the middle class population are some of the other chief factors likely to propel the technical textile market growth over the forecast period.
On the contrary, protection policies pertaining to high tariff reduces the demand for technical textiles which are likely to be exported. Moreover, high cost associated with the finished products as well as raw materials affects the pricing structure. These factors are estimated to curtail the market growth in the coming years. Despite these concerns, the emergence of latest technologies including e-textile, rising importance of geotextiles, and high development of the manufacturing sector are estimated to offer new opportunities to the market growth in the coming years.
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The global technical textile market has been segmented on the basis of type, material type, and end-use application.
By type, the global technical textile market is segmented into woven, nonwoven, and others.
By material type, the global technical textile market is segmented into uniform and composite.
By end use application, the global technical textile market is segmented into BuildTech, AgroTech, GeoTech, ClothTech, InduTech, HomeTech, MobilTech, MediTech, PackTech, OekoTech, SportTech, and ProTech. Of these, the MobilTech segment is estimated to gain prominence due to rising product consumption in the automotive industry. The surging demand for cars with high-end features will further trigger the demand for the market.
Geographically, the global technical textile market spans across Europe, North America, Asia Pacific, and LAMEA.
Considering the global scenario, the technical textile market in the European region is estimated to acquire a substantial share in the market. These textiles are extensively used in MobilTech, InduTech, OekoTech, and others, which propels its demand across the globe. The rising adoption of technical textiles in industrial, medical, automotive, and home textiles are predicted to encourage the regional market over the anticipated timeframe. Additionally, emerging applications across various segments including construction and clothing will boost the market growth in the coming years.
The major market players operational in the global technical textile market include Ahlstrom Corporation, DowDuPont, GSE Environmental Inc., Johns Manville, Freudenberg & Co., Proctor and Gamble, Royal Ten Cate, Huesker Synthetic GmbH, 3M, and Hindoostan Mills.
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