TECHNICAL TEXTILE MARKET ANALYSIS

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 is versatile, which makes it desirable for several applications for 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 valued at US$ 203.23 Bn in 2022 in terms of revenue, exhibiting a CAGR of 5.29% during the forecast period (2023-2030).

Drivers

Growth in the automotive sector across emerging markets

Robust growth in the automotive sector across emerging industries is propelling the market growth of technical textiles. The increasing use of technical textiles to develop lightweight vehicles and to increase fuel efficiency is accelerating the market growth of technical textile. Moreover, technical textile is used in components such as air-bags and seat belts. Also, emerging markets in countries such as India and China are projected to play a significant role in driving the demand for Mobiltech textiles.

Rise in the number of manufacturing industries

The rise in the number of various manufacturing industries around the globe is boosting the demand for Indutech (an industrial textile) 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 fabric.

Figure 1. Global Technical Textile Market Value Share (%), By Region, 2022

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Asia Pacific dominated the global technical textiles market in 2022, accounting for 44.66% share in terms of revenue, followed by North America and Western Europe.

Market Restraints

Expensive as compared to conventional textiles

Technical textiles are expensive as compared to conventional textiles. This is attributed to the high costs associated with raw materials and production costs of technical textiles. For example, the polymerization process used in the creation of technical textiles is more capital intensive as compared to conventional textiles. Moreover, the technical textile manufacturing process requires more technically trained workers, which in turn adds to the costs of finished goods produced from technical textiles.

Market Trends

Increasing disposable income and changing lifestyle of 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 manufacturers 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 Value Share (%), By Application, 2022

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Technical Textiles Market, Segment Analysis by Application:

• Among Application, the Indutech segment held dominant position in the market and accounted for 28.4% share in the global technical textiles market in 2022. The segment is expected to reach US$ 45.2 Billion by 2030.
• Indutech is a subset of nonwovens in technical textiles which deals with textile materials used in a variety of industrial settings. The use of non-woven fabrics in industrial textiles is not far behind. At present, various applications of this sector are being made by non-woven fabrics. Electrical components, conveyor belts, flame barriers, reinforced plastics, noise absorbents, and battery separators are all made by non-woven fabrics.

The key 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. These players are engaged in developing innovative products to meet the emerging consumer trends. Moreover, they focus on providing high-quality products to their consumers to retain their market share.

Recent Developments

• In December 2022, DuPont an American multinational company announced an expanded partnership with Team Rubicon, a veteran-led humanitarian organization that serves communities before, during and after disasters and crises. This deeper partnership includes donations of Tyvek protective apparel, personal protective equipment (PPE) applications training and educational support, safety-oriented content for their website, access to safety personnel, potential volunteers and awareness-building inside and outside of DuPont.
• In November 2022, Baltex has introduced their new product which is a fabric that has superior wicking performance, and it is using a special structure to encourage effective capillary action to draw moisture away from the skin.
• In August 2022, Milliken & Company Inc. has announced an acquisition of one of the Frontier yarn plants in Mayodan, N.C., from Gildan. This plant acquisition expands Milliken’s open-end yarn production for its protective fabrics, workwear, government and defense, industrial, and napery textile business units.
• In December 2020, Dickson-Constant announced the acquisition of new industrial site on a 10ha site in Hordain, Hauts-de-France.

Competitive Section

Major players operating in the global Technical Textile market include Low & Bonar PLC, Ahlstrom Group, E. I. DuPont de Nemours and Company (DuPont), 3M Company, Polymer Group Inc., Milliken & Company Inc., Arville Textiles Ltd., Dickson-Constant, Baltex, and Freudenberg & Co. KG.