Technical Textile Market to Reach $331.8 Billion, Globally, by 2032 at 5.7% CAGR: Allied Market Research

Allied Market Research United Kingdom United States of America

Report coverage & details:

 

Report Coverage

 

 

Details

 

Forecast Period

 

2023–2032

 

Base Year

 

2022

Market Size In 2022

 

$191.7 Billion

 

Market Size In 2032

 

$331.8 Billion

 

CAGR

 

5.7 %

 

No. Of Pages In Report

 

605

 

Segments Covered

 

Material, Process, End Use Application, And Region.

 

Drivers

 

Increase In Demand For Geotextile From The Developing Economies

Rise In Preference For Non-Woven Technical Fabrics

 

Opportunity

 

Recyclability Improvement

 

Restraint

 

High Toxic Waste Production

 

 

The synthetic polymers/fibers segment to maintain its lead position during the forecast period.

By material, the synthetic polymers/fibers segment accounted for the largest share in 2022, contributing to more than half of the global technical textile market revenue. Synthetic fibers are widely used in applications including automotive, clothing, construction, filtration, home furnishing, and others. Thus, increase in population along with urbanization are expected to drive the growth of the synthetic fiber market in the upcoming years. In addition, increase in the trend of light weight accessories for electric vehicles to get the best performance further boosts the market growth for the synthetic fiber technical textile market. Moreover, changes in lifestyle patterns demand well-furnished homes that can be fulfilled with the help of synthetic fibers, which in turn fuels the market growth globally.

The woven segment to maintain its lead position during the forecast period.

By process, the woven segment accounted for the largest share in 2022, contributing to more than five-eighth of the global technical textile market revenue. Woven textiles are classified on the basis of weave, thread density, number of yarns & crimps, and others. Durability, strength, stability, porosity control, and others are the key factors that are expected to increase the demand for woven technical textiles during the forecast period. There has been an increase in the use of woven textiles in heavy applications such as highway engineering, railroad construction, airport runway construction, and others in the last decade, which in turn is expected to fuel the growth of the woven technical textiles market in the upcoming years.

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The MobilTech segment to maintain its lead position during the forecast period.

Based on the end-use application, the MobilTech segment accounted for the largest share in 2022, contributing to more than one-sixth of the global technical textile market revenue. Woven textiles are classified on the basis of weave, thread density, number of yarns & crimps, and others. Durability, strength, stability, porosity control, and others are the key factors that are expected to increase the demand for woven technical textiles during the forecast period. There has been an increase in the use of woven textiles in heavy applications such as highway engineering, railroad construction, airport runway construction, and others in the last decade, which in turn is expected to fuel the growth of the woven technical textiles market in the upcoming years.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global technical textile market and is projected to register the highest CAGR of 6.2% during the forecast period. The technical textile market is expected to witness considerable growth in the coming years in India, owing to numerous factors such as developing end-user sectors, rise in awareness, government initiatives, investment in technology, and others. Some of the developing end users include healthcare, automotive, construction, and others.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:  https://www.alliedmarketresearch.com/technical-textile-market/purchase-options

Leading Market Players: -

Bruck TextilesGelvenor TextilesLanxessNIKOL Advance Materials Pvt. LtdSanrhea Technical Textiles LimitedArville Textiles LimitedL. van Heek Textiles bvHiltexTechnischeWeefsels B.V.DelcotexAurich Textiles GmbH

The report provides a detailed analysis of these key players in the global technical textile market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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