Technical textile is a textile that has superior functionality and is used for rubber items, floor coverings, insulating items, protective gear, and composites in automobiles. It has high performance and are versatile which makes them desirable for several applications such as industrial as well as domestic use. They are produced from different materials such as natural fiber, regenerated fiber, metal, and specialty fiber.
The global technical textiles market is estimated to be valued at US$ 202.5 Billion in 2021 and is expected to exhibit a CAGR of 4.5 % over the forecast period (2021-2028).
Figure 1. Global Technical Textiles Market Value (US$ Bn), by Region, 2020
Asia Pacific Region held dominant position in the global technical textiles market in 2020, accounting for 7.20 % share in terms of volume, followed by Western Europe and North America, respectively.
Global Technical Textiles Market: Drivers
Robust growth in the automotive sector across emerging markets is propelling the market growth of the technical textile. The increasing use of technical textiles to develop lightweight vehicles and to increase fuel efficiency is accelerating the market growth of the technical textile. Moreover, the technical textile is also used in components such as air-bags and seat belts. Also, emerging markets such as India and China are projected to play a significant role in driving the demand for Mobiltech textiles.
The rise in the number of various manufacturing industries around the globe is boosting the demand for Indutech which is fueling the market growth of technical textiles. For instance, Indutech is one of the largest application segments in the technical textile market and its growth is directly associated with that of industrial production. This is projected to increase demand for various products under the Indutech textile segment such as woven filters, dust filters, industrial belts & hoses, and conveyor belt fabrics.
Global Technical Textiles Market: Opportunities
Growth in the Meditech due to increasing government and per capita spending on the healthcare industry around the globe is expected to bring new market opportunities. Moreover, rising health and hygiene awareness among emerging economies is again fueling demand for healthcare products such as sanitary napkins and baby diapers that are produced from technical textiles. Thus, the growing Meditech segment is projected to foster the market growth of the technical textile.
E-textile is emerging as a promising segment of technical textiles and this is expected to provide lucrative opportunities in the market. E-textile are also called smart textiles and are electrically conductive textiles. It is majorly used across different sectors such as medicine and sport. Moreover, various key manufacturers in the market are focusing on R&D activities in order to develop innovative technical textiles with enhancing wearability. Thus, expanding applications of e-textile is projected to foster market growth.
|Base Year:||2020||Market Size in 2021:||US$ 202.5 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||4.5%||2028 Value Projection:||US$ 276.4 Mn|
Low & Bonar PLC, Ahlstrom Group, E. I. du Pont de Nemours and Company (DuPont), 3M Company, Polymer Group Inc., Milliken & Company Inc., Arville Textiles Ltd., Dickson-Constant, Baltex, and Freudenberg & Co. KG
|Restraints & Challenges:||
Increasing disposable income and changing lifestyle of the consumers such as growing participation in sports activities due to growing health and wellness trend is projected to fuel the market growth. Moreover, increasing spending on functional and sports apparel that are part of Clothtech and Sportech segments is again expected to foster market growth. Thus, Clothtech and Sportech segments are expected to gain significant share in the market due to the growing purchasing power of the consumers.
Growing strategic mergers and acquisitions by the key manufacturer is one of the key trends in the market. This ongoing trend is expected to bolster the market growth over the forecast period. For instance, in May 2020, the global technology group Freudenberg acquired 100% of the shares in Low & Bonar PLC, London, U.K. Low & Bonar is a global manufacturer of technical textiles.
Figure 2. Global Technical Textiles Market Share, By Application, 2020
Key Takeaways of the Graph:
Raw materials such as polyester and synthetic materials are used in the production of technical textiles. These materials are not easily bio-degradable and also exhibit toxic substances. These can affect environmental species and sustainability and in order to overcome with this governments around the globe have imposed strict environmental regulations for technical textile products. This factor is expected to hamper the market growth.
A growing number of SMEs in countries such as India and China have resulted in fragmentation in terms of market value share. This is leading to intense competition in the market. High competition in the market is acting as an entry barrier for new market players which in turn inhibiting the market growth of the technical textile.
Global Technical Textiles Market: Competitive Landscape
Major players operating in the global technical textiles market include, Low & Bonar PLC, Ahlstrom Group, E. I. du Pont de Nemours and Company (DuPont), 3M Company, Polymer Group Inc., Milliken & Company Inc., Arville Textiles Ltd., Dickson-Constant, Baltex, and Freudenberg & Co. KG
May 2020: The global technology group Freudenberg acquired 100% of the shares in Low & Bonar PLC, London, U.K. Low & Bonar is a global manufacturer of technical textiles.
An automotive textile is a specialized textile used not only in the automotive and transportation industries, but also in other industries as well. The selection of textile concentrate greatly on aspects such as visual appeal, safety, and comfort. For this reason, automotive textile specialists must have strong understanding of customer's requirements and tastes and must be able to translate them into designing and printing specifications, in line with specific customer needs. Furthermore, automotive textile designers must also have knowledge of different fabrics, like nylon, silk, velour, and leather and be able to create a design that is compatible and complementary to each of these fabrics.
Increasing investment in R&D of new high-performance woven textile solutions is expected to propel growth of the global technical textiles market over the forecast period. For instance, in February 2020, Quantum Materials announced to invest US$ 3.5 million to further diversify its business with customized state-of-the-art manufacturing equipment for R&D of non-traditional and high-performance woven textile solutions.
Launch of new products is expected to propel growth of the global technical textiles market over the forecast period. For instance, in August 2021, Carrington Textiles received the RU status for six of its flame retardant fabrics. The statues was granted under the category of ‘flame resistant clothing for protection of industrial personnel against short-duration thermal exposures from fire.’
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.