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Technical Textile Market Expected to Reach $334,938 Million

Increase in demand for geotextile from developing economies and rise in preference toward nonwoven technical fabrics are the key factors that drive the growth of the global technical textile market. Furthermore, upsurge in demand for construction textiles and increase in government initiatives to promote the use of technical textiles have fueled the demand for these products, thereby boosting the technical textile industry growth.<br>Get Sample :https://www.alliedmarketresearch.com/request-sample/1841

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Technical Textile Market Expected to Reach $334,938 Million

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  1. According to a new report published by Allied Market Research, titled,"Technical Textile Market, by Type, Material Type, and End-use Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",the global technical textile market was valued at $234,715 million in 2017, and is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. The composite segment accounted for a major share of the global technical textile market in 2017, in terms of revenue. Technical Textile Market

  2. Technical textiles are the functional fabrics, which find applications across multiple end-use industries such as automobile, construction, and others. These materials exhibit enhanced performance as compared to conventional textiles. The technical textile materials include several natural and synthetic fibers such as Saran, Vinalon, Vinyon, Spandex, Modal, Twaron, Kevlar, Nomex, and others. • The growth of the global technical textile market is majorly driven by increase in product demand from automotive, construction, and geological end-use industries. Moreover, increase in awareness of industrial safety, rise in environmental awareness, and advances in medical technology are further expected to fuel the growth of this market.

  3. By : Material Type

  4. Key Findings of the Technical Textile Market: • The North America technical textile market is projected to grow at a CAGR of nearly 4.7% during the forecast period, in terms of revenue. • The Europe technical textile market is anticipated to dominate the global market, in terms of revenue in the near future. • The global technical textile market for MobilTech dominated the market, with a share of over 22.76% in 2017. • The nonwoven technical textile segment is projected to dominate the global market in the years to come.

  5. Key players: • Ahlstrom Corporation • Johns Manville • GSE Environmental Inc. • Royal Ten Cate • Freudenberg & Co. • Proctor and Gamble • 3M • Huesker Synthetic GmbH

  6. By: Region Type

  7. In 2017, Asia-Pacific held the dominant market share in the global technical textile market, in terms of revenue. China is the one of the leading manufacturers for automotive, which further drives the need for technical textiles, thereby supplementing the market growth. In addition, favorable investment policies and government initiatives to promote the use of technical textiles in the developing economies such as India and China are anticipated to fuel the market growth in this region. Additional key factors that fuel the market growth include the development of public infrastructure, growth of the healthcare sector, and rapid urbanization.

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