Technical Textiles Market To Rise At Modest Growth With CAGR And Revenue Till 2022|Grand View Research, Inc.



The global technical textiles market size is expected to reach USD 193.16 billion by 2022, expanding at a CAGR of 3.7%, according to a new report by Grand View Research, Inc. Growth of key end-use industries such as agriculture, construction, packaging and automotive in BRIC nations is expected to remain a key driving factor for global technical textiles market. Being one of the most innovative branches of industry across the world is expected to create new avenues for market participants. Introduction of environmental regulations on conventional petroleum based technical textiles usage directly impacted the global market. Technical textiles are used in almost all modern industries including furniture, automotive, footwear, textiles and others.
3D weaving was the leading technology and accounted for 25.2% of total market volume in 2014. Nanofiber is expected to witness the highest growth of 4.1% from 2015 to 2022. Growth of nanotechnology across various end-use industries is expected to drive this segment over the forecast period.
The global technical textiles market size demand was 26,580.24 kilotons in 2014. It is projected to expand at a CAGR of 3.7% from 2015 to 2022. These textiles are known for superior properties when compared to conventional textiles and are used for special functionalities. Properties such as higher strength, versatility, and superior technical performance make them desirable for numerous industrial, commercial as well as domestic usages.
Key market participants include E.I du Pont de Numours & Company, Avintiv, Kusumgar Corporates, SRF, Ahlstrom, Ibena Textilewerke GmbH, Johnson & Johnson, Procter & Gamble, 3M, SKAPS, Kimberley Clark Corporation, Maccaferri, and Strata Geosystems (India) Pvt. Ltd.
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Further key findings from the report suggest:
·         Global market demand was 26,58 million tons in 2014 and is expected to reach 35.47 million tons by 2022, growing at a CAGR of 3.7% from 2015 to 2022
·         Mobiltech was the leading application segment and accounted for 15.2% of total market volume in 2014. Growing demand for high performance materials from automotive industry is expected to remain a key driving factor for this segment over the forecast period.
·         Meditech, is expected to witness the highest growth of 4.6% from 2015 to 2022. Increasing healthcare expenditure in China and India coupled with presence of sophisticated healthcare infrastructure in most parts of Europe and North America is expected to drive this segment over the next seven years.
·         Asia Pacific dominated the global technical textiles market with demand share exceeding 45% in 2014. Growing industrialization, increasing access to medical care and huge infrastructure spending particularly in China, India, Indonesia and Thailand is expected to drive regional growth.
·         Technical textiles have higher production cost as these are manufactured from advanced superior raw materials. Basic textiles use natural and synthetic raw materials in their manufacturing process. However, wide range of applications gives the overall market an upper hand in terms of competitive analysis.
·         Global market is dominated by top multinational corporations which are present across the value chain. Major companies have been investing in R&D to avoid volatile petroleum prices and uncertainty regarding their availability. Frequent joint ventures and strategic partnerships are witnessed which is expected to increase their market share. E.I du Pont de Numours & Company, Avintiv, Kusumgar Corporates, SRF, Ahlstrom, Ibena Textilewerke GmbH, Johnson & Johnson, Procter & Gamble and 3M are some key companies operating in the global market space.
Automotive industry being a major end-use industry, is expected to aid the technical textiles market over the forecast period. Technical textiles are used for rubber products, balance, safety, insulating products, floor coverings, composites, and protective gear in automobiles.
Technical textiles have varying grades that are used for various applications. Such versatility is presumed to complement the industry owing to wide acceptance of the product across multiple industries. High raw material cost is a critical factor anticipated to hamper growth of the technical textiles market as it can negatively impacts profit potential.
Growing acceptance of geotextiles is presumed to offer ample opportunities to the market participants over the forecast period. Emerging regions such as Asia Pacific and Latin America are presumed to witness rapid adoption of the product across several industries. Countries such as China, India, and Brazil are projected to lead their respective regional markets. Such a trend in the developing regions promises ample opportunities for growth and development.
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Fibers, yarns, and filaments are the major products used for manufacturing technical textiles. Numerous technologies involved in the manufacturing includes 3D weaving, thermoforming, 3D knitting, heat-set methods, nanotechnology, hand-made methods, finishing treatments, and others. Thermoforming, 3D weaving, and 3D knitting are the most mostly used methods. Newer technologies such as nanotechnology are projected to witness wide acceptance over the forecast period and offers ample scope for growth.
Thermoforming in textiles is a heat treatment process used to shape composites containing fabric layers into various shapes. This technology is widely adopted in the indutech, mobiltech, packtech, and hometech segments. 3D weaving is a weaving process used for manufacturing products such as spacer fabrics, geotextiles, surgical implants, webbings, conveyor belts, and more.
Three dimensional knitting technology is used to manufacture complete garments with minimal or no cutting. This innovative technology eliminates post labor work, thus saving production time and cost. In addition, this technology offers knitwear consumers more comfort and better fit by eliminating seams. Heat-set method is a thermal process carried out either in a moist or dry heat environment. Finishing treatments are used in the final production stages.
Grand View Research has segmented the global technical textiles market on the basis of technology, end-use and region:
Technical Textiles Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·         Thermo-forming
·         3D Weaving
·         3D Knitting
·         Nanofibers
·         Heat-set Synthetics
·         Finishing Treatments
·         Hand-made elements
·         Others
Technical Textiles End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·         Mobiltech
·         Indutech
·         Sportech
·         Buildtech
·         Hometech
·         Clothtech
·         Meditech
·         Agrotech
·         Protech
·         Packtech
·         Others
Increasing infrastructure spending, especially in developing regions such as Asia Pacific and Central and South America owing to government initiatives is presumed to be a major regional driver. Growing population coupled with increasing access to medical treatment is estimated to drive the medical and pharmaceutical industry, which in turn is expected to aid the meditech segment.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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