Westford USA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The global Technical Textile market size is expected to reach USD 272.3 billion by 2030 and exhibit a CAGR of 4.7% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for high-performance textiles in various end-use industries, such as automotive, construction, and healthcare, creates a steady demand for technical textiles. The increasing emphasis on lightweight and durable materials in the aerospace and defence sectors further fuels the market's growth.
According to SkyQuest's latest global research of the Technical Textile market, adoption of sustainable and eco-friendly materials in technical textiles is gaining traction, reflecting the growing emphasis on environmental responsibility and circular economy practices. The integration of nanotechnology and advanced coatings in technical textiles is on the rise, enhancing functionalities such as water resistance, antibacterial properties, and UV protection are the trends that aid in the market's growth.
Browse in-depth TOC on "Technical Textile Market"
- Pages - 242
- Tables - 129
- Figures -77
Technical textiles are fabrics that have been engineered to provide specific functions, such as strength, durability, or resistance to chemicals. They are used in a wide variety of applications, including automotive, aerospace, construction, and medical.
Prominent Players in Technical Textile Market
- TenCate
- Hyosung
- Toray Industries
- Milliken
- INVISTA
- Teijin Aramid
- DuPont
- Kolon Industries
- Schoeller Textiles
- SGL Group
- Freudenberg
- Asahi Kasei
- Mitsubishi Chemical Holdings
- Yarn Technology
- Johns Manville
- Saint-Gobain
- Huntsman
- FlexForm
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 188.81 Billion |
| 2030 Value Projection | 272.33 Billion |
| CAGR | 4.7% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Mobiltech Textiles Demand to Grow Substantially in the Forecast Period
Mobiltech Textiles dominated the global online market as the automotive sector utilize materials for lightweighting, sound absorption, and thermal management, which are well-served by technical textiles like non-wovens and composites.
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Automotive is the Leading Application Segment
In terms of application, automotive is the leading segment due to the demand of technical textiles for various applications, including seating, interior trim, airbags, carpeting, and acoustics. Technical textiles are valued for their lightweight, high-performance, and safety-enhancing properties, making them essential in modern automotive manufacturing. As the automotive industry continues to focus on lightweighting to improve fuel efficiency and reduce emissions, technical textiles become increasingly vital for achieving these goals.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has well-established textile industries, advanced manufacturing capabilities, and a long history of technical textile applications in various sectors, including automotive, healthcare, and construction. Additionally, these regions have strong research and development efforts in the field of technical textiles, leading to innovative products and solutions.
A recent report thoroughly analyzes the major players operating within the Technical Textile market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Technical Textile.
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Key Developments in Technical Textile Market
- In February 2023, Freudenberg acquired the technical textile business of Solvay. This acquisition gave Freudenberg a major player in the high-performance textiles market. Solvay's technical textile business is a leading provider of aramid and carbon fiber-based products, and it has a strong track record of innovation. This acquisition will allow Freudenberg to expand its product offerings and reach new markets.
- In March 2023, Milliken acquired the technical textile business of Kuraray. This acquisition gave Milliken a major player in the filtration and medical textiles markets. Kuraray's technical textile business is a leading provider of polyester and polyamide-based products, and it has a strong track record of innovation. This acquisition will allow Milliken to expand its product offerings and reach new markets.
Key Questions Answered in Technical Textile Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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