Future Market Insights

Technical Textiles Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate

2019 Analysis and Review of Technical Textiles Market by Application - Agrotech, Buildtech, Hometech, Indutech, Sportech, Packtech, Mobiltech, Meditech, Clothtech, Geotech, Protech, and Oekotech for 2019-2029


Valley Cottage, NY -- (SBWIRE) -- 06/30/2020 -- Mobiltech Textiles to Capture 1/5th Revenue Share
Mobiltech continues to be one of the biggest fields of application of technical fabric, accounting for over 20% of total market share. With textiles becoming an indispensable factor in the manufacturing industry, market players are targeted towards advanced indutech products such as nonwoven nano-fiber filtration media which is now filling micro-filtration performance gap. In addition, rapid pace of urbanization and industrialization in developing countries are influencing manufacturers to capitalize on hometech and construction textiles. Furthermore, agrotech or agri textile remains a key focus area of manufacturers, sensing the need for high-performance fabric to increase crop yield, control diseases and soil borne pathogens, and to ensure water saving.

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Asia Pacific - The Most Promising Market for Technical Textiles
The technical textile industry finds immense potential in Asia Pacific, which accounts for 43% of the global adoption. Developing countries such as India and China are emerging as powerhouse of both production and end-use consumption of technical textiles. With changing economic scenario, abundant availability of raw materials, strong presence of manpower, manufacturers are viewing Asia Pacific from both manufacturing and target market perspectives. With emergence of North America and Europe as early adopters of advanced technologies, high opportunities for product innovations are expected in these regions. Moreover, fulfilling advanced functional requirements of technical textiles will remain key to gaining competitive edge in developed markets.

Nanotechnology and Smart Clothes to Dictate Stakeholders' Strategies
Numerous technologies have been a huge leap forward for the technical textile industry, and progress in gaining pace in sustainable alternatives as consumer demand for carbon neutrality increases. In line with significant improvement in textile chemicals and coatings, key players in the technical textiles market are exploring the possibilities of applying technologies such as AI and nanotechnology in their products. New innovative techniques such as 3D knitting, thermoforming, and 3D weaving are expected to observed large-scale adoption in future, amid growing popularity of smart clothes embedded with wearable electronics or high tech performance fabrics containing electrometric barriers for chemical protection.

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How Growth will Unfold
Demand for technical textiles is currently based on evolution of the automotive & transportation sector along with their diversified applications in number of industries. While the technical textile sector is proving to be a strong inspirational force of the overall textile industry, relatively high prices and lack of product awareness in several countries remain key challenges for manufacturers. In addition, environmental footprint of the technical textile industry in now under scrutiny as a strong contributor of toxic waste and carbon emissions, thereby compelling manufacturers to align with sustainability and eco-friendly trends.