Technical Textile Market: Addressing Regulatory Challenges in Global Markets

The global technical textile market size is expected to reach USD 272.33 billion by 2030, registering a CAGR of 4.7% according to a new report by Grand View Research, Inc. The technical textile product exhibits exceptional strength, durability, and superior performance, which makes them fit for several industrial applications.

Increasing concern towards agriculture and attaining high crop yield is one of the major factors fueling the growth of agro textile in the market. Several nets manufactured under agro textile including plant nets, bird protection nets, monofil nets, root ball nets, and various others are extensively used for passive protection of agricultural seeds, crops, or fruits against any external damage.

Increasing technological advancements coupled with the rising demand for high-performance and energy-efficient fabric are acting as a propelling growth factor in the market. In addition, stringent government policies regarding the use of effective personal protective equipment have driven the market growth on a positive note.

Gather more insights about the market drivers, restrains and growth of the Global Technical Textile Market

 

Technical Textile Market Report Highlights

• The 3D knitting manufacturing segment is likely to witness a CAGR of 3.8% over the forecast period owing to its stronger and more durable fabric nature

• In 2022, the hometech technical textile end-user segment led the market and accounted for the largest revenue share of 19.50%. The segment is likely to ascend at a significant rate during the forecast period. Increasing consumer demand for aesthetically appealing clothing and apparel is expected to increase the product demand in the segment

• In 2022, Asia Pacific emerged as the largest market and accounted for over 46.80% of the total revenue owing to the increasing industrial development in the region. Favorable government policies coupled with the abundant availability of raw materials are expected to draw higher growth from the region over the forecast period

• In North America, the technical textiles demand stood at 7,696.3 kilotons in 2021 and is expected to ascend at a significant rate during the forecast time on account of increasing application in sports, construction, and medical and healthcare industries

• Prominent players in the market are involved in various initiatives such as advancing healthcare infrastructure, partnership, and scientific research in collaboration with various healthcare institutions. Moreover, government support and policies within the respective countries are expected to influence the market on a positive note

Key Companies & Market Share Insights

The market is making rapid advancements in technical textiles owing to the rapidly changing consumer preference and fluctuating fashion trends. In addition, several players are focusing on thedevelopment of consumer and commercial textiles making them suitable for use in an extensive range of industrial applications. The market is competitive due to the presence of major companies involved in product manufacture.

Key industry players have benchmarked their products on the basis of geographical presence, distribution network, product portfolio, operational capabilities, and innovation. These manufacturers generally enter into long-term contracts with technical fabric providers to avoid fluctuations in raw material prices and disruptions in raw material supply.

List Of Key Players Of Technical Textile Market

• Low & Bonar PLC
• Freudenberg Group
• Berry Global Group, Inc.
• Ahlstrom-Munksjo
• Asahi Kasei Advance Corp.
• Kimberly-Clark Corp.
• Mitsui Chemicals, Inc.
• Huntsman International LLC
• Berry Global Group, Inc.
• Toray Industries, Inc.

Order a free sample PDF of the Technical Textile Market Intelligence Study, published by Grand View Research.