Technical Textile Market (By Material Type: Natural fiber, Synthetic polymer, Regenerated fiber, Mineral, Metal, Specialty fiber; By Process: Woven, Knitted, Non-woven, Others (knotted and braided); By Application: Mobiltech, Indutech, Meditech, Protech, Packtech, Agritech, Hometech, Clothtech, Buildtech, Others (Sportech, Oekotech and Geotech)) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global technical textile market is anticipated to grow at a CAGR of around 6.4% during the forecast period 2020 to 2027 and to reach around US$ 293.5 Bn by 2027.

Market Dynamics

Technical textile is gaining importance in various end use industries such as agriculture, medical, automotive, etc. Rapid technological advancements in textile industry and manufactures approach towards development of advanced textile material with high strength. These are some major factors expected to drive the growth of global market.

Medical sector is witnessing rapid development across the globe; changing regulatory scenarios and high investment by the government for R&D activities are factors responsible for the sector growth. Major medical manufacturers are focused on development advanced implantable textile that aid in betterment of the patients.

Government of developed and developing countries is investing high for the development of the technical textile. Through implementing the rules and regulation in order to simplify the adoption of technical textiles in various end use industries are major factors impacting the growth of global market positively.

• In 2019, the government of India set new policy to may make use of technical textiles mandatory in defense and agriculture sector. A comprehensive policy are being constructed and the government is focused in providing financial support to promote domestic manufacturing and set standards to make India a production hub for them.

In addition, flourishing automotive sector across the globe, rising sale of passenger vehicles in emerging economies, and consumers focus towards safety and quality products is expected to increase demand for technical textile among automotive manufacturers further supporting growth of  the global market.

Major players focus on increasing the business profit ratio through strategic merger is another important factor expected to support the growth of target market.

• In 2019, Vitrulan Group acquired fiber optic reinforcement business from Ahlstrom-Munksjo this acquisition is expected to increase the Vitrulan Group product portfolio.

However, factors such as high cost of end product and low awareness among consumers is hamper the growth of global technical textile market. Fluctuating raw material prices impact the end product cost with the increase in raw material price the final product cost increases.

Technological advancements by major players and high investment for R&D activities are expected to create new opportunities over the forecast period. In addition, business development activities through strategic partnerships and agreements are factors further supporting the revenue growth of the target market.

Technical Textile Market Segment Analysis, 2019

The global technical textile market is segmented into material, process, and application. The application segment is bifurcated into mobiltech, indutech, meditech, protech, packtech, agritech, hometech, clothtech, buildtech, and other (sportech, oekotech, and geotech). Among the application segment the mobiltech is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to increasing demand for technical textile from various end use industries such as medical, agriculture, defense, etc. In addition, high investment by major players for R&D activities, coupled with availability of advanced infrastructure is expected to further support the growth of target market in this region.  

Asia Pacific is expected to witness faster growth in the near future owing to high investment by the government for R&D activities. In addition, availability of various financial supports and emergence of mid-size enterprises with new products is expected to further support the growth of regional market.

Competitive Landscape

High presence of players operating on global level and innovative product offerings is increasing the competitive scenario. In addition, partnerships and agreements are expected to further augmenting the market competition.

Report coverage

The market research study on “Technical Textile Market (Material Type: Natural fiber, Synthetic polymer, Regenerated fiber, Mineral

Metal, and Specialty fiber; Process: Woven, Knitted, Non-woven, and Others (knotted and braided); Application; Mobiltech, Indutech, Meditech, Protech, Packtech, Agritech, Hometech, Clothtech, Buildtech, And Other (Sportech, Oekotech, and Geotech)) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global technical textile market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global technical textile market, its product type, process, application segment, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global technical textile market size and segment markets by product type, process, application, and geography along with the information on companies operating in the market. The technical textile market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Avintiv, Kusumgar Corporates, 3M, SRF, Ibena Textilewerke GmbH, Johnson & Johnson, Procter & Gamble, SKAPS, E.I du Pont de Numours & Company, Ahlstrom, Avintiv, Kimberley Clark Corporation, Maccaferri, and Strata Geosystems Pvt. Ltd.

Market Segmentation

Market By Material Type

• Natural fiber
• Synthetic polymer
• Regenerated fiber
• Mineral
• Metal
• Specialty fiber

Market By Process

• Woven
• Knitted
• Non-woven
• Others (knotted and braided)

Market By Application

• Mobiltech
• Indutech
• Meditech
• Protech
• Packtech
• Agritech
• Hometech
• Clothtech
• Buildtech
• Others (Sportech, Oekotech and Geotech)

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa