| According to a market research report, the “Technical Textile Market by Material (Natural Fiber, Synthetic Polymer, Metal, Mineral, Regenerated Fiber), by Process (Woven, Knitted, Non-woven), by Application (Mobiltech, Indutech, Protech, Buildtech, Packtech), and Region – Global Forecast to 2025“, size is projected to grow from USD 164.6 billion in 2020 to USD 222.4 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. Some of the major factors that drive the growth of this market are growing demand for new application areas and increasing adaptability and awareness of products. The growing awareness about the superior functionality and application of technical textiles encourages the higher consumption of technical textiles and related products.
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- 200 Market data Tables
- 55 Figures
- 248 Pages and in-depth TOC on “Technical Textile Market – Global Forecast to 2025″
This report also provides a comprehensive analysis of the companies listed below:
The technical textile market is led by major players such as Asahi Kasei (Japan), Kimberly Clarke (US), Berry Global Group (US), DuPont (US), Mitsui Chemicals (Japan), and Freudenberg & Co. (Germany). Other players include Low & Bonar (UK), Huntsman (US), Toyobo Co. (Japan), Milliken & Company (US), SRF Limited (India), Koninklijke Ten Cate (Netherlands), and International Textile Group (US). These players have adopted numerous growth strategies to increase their market share, enhance their product portfolio, and expand their market share. Mergers & acquisitions, new product launches, expansions & investments, and agreements & partnerships are some of the major strategies adopted by leading players operating in the technical textile market. The years 2013 and 2020 experienced a large number of investments & expansions by top players in the market.
Investments & expansions accounted for the largest share of all strategic developments in the technical textile market. Companies such as Berry Global Group, Asahi Kasei, and Freudenberg & Co. adopted this strategy to strengthen their product portfolios, expand their geographic reach, and enhance growth prospects in the technical textile market.
Recent Developments in Technical Textile Market Industry
- In September 2017, Asahi Kasei Fibers & Textiles expanded its capacity to produce Lamous, a high-quality microfiber suede. It is used in a wide variety of applications such as furniture upholstery, automotive interiors, IT accessories, apparel, and industrial materials.
- In May 2017, Kimberly-Clark introduced two new products under Kleenex brand for modern day life. Kleenex Ultra Soft Go-Anywhere tissue and Kleenex Multicare tissue are larger and stronger tissue under the facial tissue category.
- In June 2017, Freudenberg & Co. Kg launched Evolon® New Generation which is made up of microfilaments that improves the product’s resistance to mechanical stress, abrasion and repeated washing. This has helped the company to improve its product offerings in the textile industry.
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Asahi Kasei (Japan) is a leading manufacturer of apparel material & products, technical textiles & nonwovens, plastic materials, chemicals, and construction materials. Strong global presence and adoption of growth strategies such as investments & expansions and new product launches have ensured its leading position in the market. The company’s technical textiles business deals with a wide range of materials and related products such as cotton, yarns, textiles, and processed products. The group focuses on new product development through research & development activities and innovations. In 2017, Asahi Kasei Fibers & Textiles expanded its capacity to produce Lamous, a high-quality microfiber suede. It is used in a wide variety of applications such as furniture upholstery, automotive interiors, IT accessories, apparel, and industrial materials.
Low & Bonar (UK) is another key player in the technical textile market. The company is engaged in the production of nonwovens for the hygiene, healthcare, geo-synthetics wipes, technical specialties, and building sectors. The company focuses on improving its customer value and expanding in emerging markets by establishing a market-driven product portfolio, upgrading supply chain capabilities, and expanding its presence through acquisitions. For instance, Low & Bonar started its high-performance technical textiles production in Changzhou, to expand its position in the Asian market and become a global leader in the carpet tile backing and automotive markets.
Major market players have adopted diversified strategies for expansion in developed and emerging countries. The Asia Pacific region dominated the technical textile market in 2019. The increase in demand for technical textile can be largely attributed to the growing automobile, medical & healthcare, and construction industries here.
The APAC region is projected to be the fastest-growing market for technical textile due to developments such as the government expenditure on infrastructure, improving health and concern for safety, increasing awareness regarding the benefits offered by technical textile products, and rapid urbanization in this region. The APAC comprises emerging economies such as China, India, South Korea, Vietnam, and Thailand. These countries have witnessed tremendous growth in the automobile, aerospace, healthcare, agriculture, infrastructure, and packaging sectors due to the increasing demand from the urban population. China and India are projected to be the fastest-growing countries in this region due to the investments of global technical textile manufacturers in these countries. The labor and operational costs, and rapid technological advancements in these countries also drive the growth of the technical textile market.
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