Technical Textiles Market to Witness a Healthy Growth by 2031
(PresseBox) - The technical textiles market will register positive growth with the overall valuation forecast to surpass US$ 183 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 4.60% between 2021 and 2031. Global sales are expected to rise at 4.7% with shipments reaching nearly 37,872 KT in 2021, following a period tepid growth in 2020.
3M, DuPont, Arville, Milliken and Company, and Freudenberg & Co. KG have been identified as the leading market players. Future Market Insights (FMI) has estimated these companies to account for nearly 20% to 30% of the global market share in 2021.
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Key Points Covered in Technical textiles Market Study
Market estimates and forecast 2021 – 2031
Key drivers and restrains impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competitive Mapping and Benchmarking
Brand share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact On Technical Textiles Market
Recommendation on Key Winning Strategies
2016 – 2020 Global Technical textiles Market Compared to Sales Forecast for 2021 – 2031
Technical textile market registered growth at a robust pace between 2021 and 2031. Increasing adoption of technical textiles in agriculture and farming activities to boost the crop yield and modernization in farming methods have bolstered the prospects of the technical textile market growth.
The demand for technical textiles rose significantly during COVID-19 pandemic. Sales uptick registered can be attributed to increasing demand of medical grade masks in hospital and other healthcare centers.
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Category-wise InsightsWhich Technical Textiles Type Is Experiencing High Demand?
By application type, mobiltech textiles are expected to exhibit tremendous growth in upcoming years owing to rise in manufacturing and sales of automotives across the globe. Technical textiles are used in manufacturing air bags, seat belts, seating upholstery, tire cords & linear, and others owing to high durability and wear resistance offered by these textiles.
Government mandating the installation of airbags in the automobiles and stringent rules regarding the usage of seat belts and increasing consumer spending on high quality and durable seating upholstery will drive the demand for mobiltech textiles in upcoming years.
Why is Non-Woven Based Production Process Most Preferred in Technical Textile Market?
By process, the non-woven segment will continue to lead the technical textile market growth during the forecast period. Non-woven process is preferred over composite and other process as it is cheaper than other process and improves properties of individual properties of natural fiber or synthetic fiber, which ultimately enhances the performance of textile material.
The non-woven textiles have better cushioning and absorbency, making them an ideal material for automotive application. High strength and softness are desired in sportswear manufacturing, thus driving the demand for non-woven textiles.
Competitive Landscape
Leading market players are focusing on scaling up their investments R&D to innovate their product offering while simultaneously participate in strategic merger and acquisitions to gain maximum market share, says FMI.
In November 2020, Duvaltex in collaboration with Steelcase developed new ocean waste clean impact textiles™ technology, which turns marine plastic waste into surface fabric with full traceability. “Intersection” is the first ocean waste clean impact textiles™ and is available in 17 different colors and applicable on more than 50 Steelcase screen and panel product lines.
In March 2019, 3M launched its new sustainable insulation material “Thinsulate insulation” for fashion and clothing industry, made from 100% recycled fabric and plastics. This product is expected to reduce the carbon footprint of fashion industry.
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Key Segments Covered in Technical textiles Market Study:
Application:
Agrotech
Buildtech
Hometech
Indutech
Sportech
Packtech
Mobiltech
Meditech
Clothtech
Geotech
Protech
Oekotech
Process:
Nonwoven
Composites
Others
Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa
Unternehmensinformation / Kurzprofil:
Datum: 10.01.2022 - 19:48 Uhr
Sprache: Deutsch
News-ID 653466
Anzahl Zeichen: 5367
contact information:
Town:
Dubai
Kategorie:
Research & Development
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