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Technical textile is popular for their superior properties such as excellent resistance to flame and heat, high tensile strength and modulus, and resistance to chemical products. Moreover, the mechanical properties of technical textiles can be modified by the use of different raw materials as per the requirement. Pharmaceutical, construction, automobile, and chemical are some of the key end-user industries of the technical textile.

Market Statistics:

The global technical textiles market is expected to surpass US$ 276.4 Bn in terms of value by the end of 2028.

Global Technical Textiles Market: Drivers

Growth in the construction industries across the BRIC region is expected to fuel the market growth of the technical textile. Rapid growth in infrastructural activities especially in BRIC is fueling demand for Buildtex – a technical textile. Technical textile is more durable and effective when compared to traditional textile materials. Buildtex is primarily used in construction and architectural applications, therefore growth in the construction industries across the BRIC region is accelerating the market growth.

Global Technical Textiles Market: Opportunities

Governments of various countries are promoting the use and production of the technical textiles industry through various initiatives. This is projected to bring profitable market opportunities in the near future. The textile industry significantly contributes to the GDP of major countries. Governments are offering taxation benefits on the import of the product. Thus, growing such initiatives by government to promote the use of technical textiles is expected to propel the market growth over the forecast period.

Global Technical Textiles Market: Recent Developments

  • 26th February 2020, The governments of India has Ensured that 100persent FDI is allowed in the textile sector without needing any government approval ,that is under the automatic route various routes have been further develop the industrial ecosystem ,including industrial perks ,skill developments and production linked incentives to attract foreign investors.
  • 7th April 2021, Belarus has the potential to fortify the Textile Market by increasing the production of Non-woven and technical textile by becoming the new hub for European textile production .The first stage of the project is focused on the production and processing of the technical yarns ,while the second stage focuses on the product intended on the exports .The exports should be more focused on the North America & Europe with a special focus on the Germany which has the increased demand for the technical textile over past years .
  • 5th of October 2021, According to the report of Economic express, Asia Pacific region dominates the Global Technical textile market with the market share as 2019 of 5.90% where china is the biggest player with 24% share of export market, Bangladesh has a huge international, market to claim a substantial share of it.

Global Technical Textiles Market: Restraints

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.

Global Technical Textiles Market - Impact of Coronavirus (Covid-19) Pandemic

Emergence of Covid-19 has increased demand for textiles that offer antimicrobial properties. Globally, as of 6:49pm CEST, 8 October 2021, there have been 236,599,025 confirmed cases of COVID-19, including 4,831,486 deaths, reported to WHO. As of 10 October 2021, a total of 6,364,021,792 vaccine doses have been administered. Antimicrobial protection for public transport can play a major role in limiting the spread of infections. Players in the market may focus on offering technical textiles that offer such properties.

Key Takeaways:

  • The global technical textiles market was valued at US$ 193.7 Bn in 2020 and is forecast to reach a value of US$ 276.4 Bn by 2028 at a CAGR of 4.50% between 2021 and 2028.
  • The Non-Woven sub segment from the Process segment was valued US$ 104.8 Bn in 2020 and is expected to witness a CAGR of 5.10% over the forecast period.

The development of micro-encapsulation technology (enabling active substances to be fixed to the surface of the fibre or fabric) means many non-woven fabrics can be perfumed or anti-bacterial. Newer fibres like Lyocell can be made into non-woven fabrics, giving better absorption and high wet strength for products such as medical swabs.

Market Trends:

Continuous product innovation by the key manufacturer is one of the growing trends in the market. For instance, in June 2020, Arvind Limited announced the launch of anti-viral textile technology for its fabric and garment products. The company has launched the product under its existing fabric brand, Intellifabrix, and will be made available across 8,000 retail stores across India. Thus, continuous product innovation by the key manufacturer is projected to foster market growth.

Antibacterial textiles are gaining traction in the market. For instance, in June 2020, Arvind Limited, India’s launched anti-viral textile technology in partnership with HeiQ Materials AG in association with Taiwanese Specialty chemical major M/S Jintex Corporation. Studies show that viruses and bacteria can remain active on textile surfaces for up to two days. Garments treated with HeiQ Viroblock actively inhibit viruses and kill them upon contact, helping to minimize the potential for re-transmission of pathogens through clothing.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/technical-textiles-market-723

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

Recent Developments

June 2019: Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of textile expertise, announced that it has signed a definitive agreement to acquire Polartec, LLC (“Polartec”), a brand known for its innovative performance textiles for outdoor and military apparel, from Versa Capital Management, LLC.

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