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I AgreeAnalysis of Technical Textile market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global technical textile market size is estimated at US$ 220 Billion in 2022, and is forecast to reach a valuation of US$ 370 Billion by 2032, expanding at a CAGR of 5.3% over the next ten years.
As per detailed analysis by Fact.MR, the technical textile market is estimated to account for nearly 43% of global textile sales by 2032. Technical textile consumption stood at around 42 Mn MT in 2021, and is predicted to reach 67 Mn MT by 2032.
Report Attributes |
Details |
Technical Textile Market Size in 2021 | US$ 210 Billion |
Estimated Market Value in 2022 | US$ 220 Billion |
Forecasted Market Value in 2032 | US$ 370 Billion |
Global Market Growth Rate (2022-2032) | CAGR 5.3% |
Asia Pacific Market Share (2021) | ~40% |
Asia Pacific Growth Rate (2022-2032) | 5.6% CAGR |
China Growth Rate (2022-2032) | 5.7% CAGR |
Market Share of Top 5 Companies | ~35% |
Key Companies Profiled |
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Technical textiles are used in a wide range of industries such as sports, medical, automotive, construction and industrial which has increased rapidly over the past half-decade. Projections are that growth in these very industries will have a direct impact on demand for engineered textiles over the coming years.
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Consumption of technical textiles over the past half-decade increased at a CAGR of around 4.8%. Technical fabric consumption in mobiltech accounted for the highest market share, which is mainly attributed to the use of industry-specific textiles in a range of automobile applications such as seat belts, seat cover fabrics, airbags, and tyre fabrics.
In addition, escalating demand for high-performance textiles will provide a thrust to their industrial reach over the decade, especially in the Asia Pacific and European regions. Consumption of technical synthetic textiles in these regions is projected to see unprecedented growth, which can be attributed to rise in housing activities along with growth of the automotive sector.
Furthermore, consumption of technical fabric and textiles for automobile applications, over the period of 2022-2032, is poised to increase at a high single-digit CAGR. Also, demand for technical textile products is projected to be driven by high sales of specialty textiles, which account for around 30% share of the overall tech textiles market.
Properties such as durability, cost-effectiveness, end-use demand growth, and technological advancements are projected to drive global demand for technical textiles at the rate of 5.3% over the decade.
Industrial workers remain under continuous exposure to different hazardous elements. Many a times, workers tend to catch skin-related diseases that affect their health over a period of time. Attributed to this, stringent regulations have come up lately, which compels employers to provide industrial workers with protective gear made in accordance with industrial textile specifications.
Additionally, over the past 2 years, there has been a surge in the consumption of protective clothing in the healthcare sector owing to rise in pathogen-related diseases such as COVID-19. This has provided a push to the application of meditech textiles globally, and the trend is projected to continue over the forecast period as well.
The above-discussed factors coupled with rise in awareness regarding HSE practices is poised to drive technical textile sales over the period of 2022-2032.
“Packtech Application Driving Technical Fabric Demand in India”
India has emerged as a leading consumer and producer of polyester. Currently, India stands 2nd in terms of polyester production and contributes around US$ 20 Billion to the global market size. Further, as per the latest report by the Government of India, the country aims at increasing the size of the domestic high-tech fabric market to US$ 40 Billion by 2024-end.
Various initiatives have been taken up by the Indian government to boost the sales of technical textiles in the country. Also, the segment that has emerged as the most lucrative to invest in is packtech, which accounts for nearly 45% of the country’s demand.
Attributed to the above-mentioned factors, the India technical fabric market is projected to provide a high absolute dollar opportunity worth US$ 35 Bn over the next ten years.
“Auto Industry in China to Drive Most Consumption of Technical Textile Products”
Over the past decade, China has emerged as one of the most lucrative markets driving the consumption of technical textiles. China’s technical textile market value currently stands at US$ 60 Billion. Further, technical textile demand in China is projected to increase at a CAGR of around 5.7% over the decade.
Robust market growth in China is projected to come from the burgeoning automobile industry, which is infusing constant demand for high-quality textiles in airbags. Also, growing industrial activities coupled with stringent safety rules has been driving demand for technical textiles over the years.
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“High-tech Fabric Mostly Used in Mobiltech Sectors”
Technical textiles have found major application in mobiltech owing to a diverse set of industries under this umbrella, such as automotive, aerospace, railways, and marine vehicles. Additionally, technical textiles have served as a key element in adding safety and durability, thereby enhancing travelling experience.
Technical woven textiles are used for a range of applications such as seat covers, airbags, belts, airline disposables, and many more, and have emerged as one of the most lucrative segments to invest in.
Due to these discussed factors, along with increasing penetration of electric vehicles in the automotive market, technical textile application in mobiltech is projected to hold around 20% of the global market share.
“Large Amount of Tech Textiles Made from Polymer Composites”
Technical textile products made from polymer composites account for a majority of the market share. Since, technical textiles are not used for decorative purposes but rather due to their strength and durability, polymers are the material of choice in the making of textiles for varied applications.
Additionally, polymer composites have been proved and tested by different end-use industries and identified as the most potent material in terms of technical aspects, showing superior mechanical properties, durability, and sustainability. Further, polymers can be mixed with different non-polymeric technical fibres too, thus enhancing technical textile properties for a range of applications.
Attributed to polymer being the most preferred material for the production of textiles, the segment is projected to account for around 58% of the global technical fabric market share.
3M Company, Ahlstrom Corporation, Arville Textiles Ltd, Asahi Kasei, Avintiv, Baltex, Berry Global, and Dickson-Constant are some of the key manufacturers of technical textile products.
Latest high-tech fabric market developments include:
Fact.MR has provided detailed information about the price points of top manufacturers of tech textiles positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
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Currently, the global technical textile market is valued at US$ 210 Billion.
The global market for technical textiles is highly fragmented with numerous regional and global players.
Technical textile consumption value is expected to increase at a CAGR of around 5.3% through 2032.
In terms of value, technical textile consumption increased at a CAGR of around 4.8% during 2017-2021.
Key players manufacturing technical textiles can be seen involved in production capacity expansion along with innovation and R&D.
Top companies producing technical textiles are 3M Company, Ahlstrom Corporation, Arville Textiles Ltd, Asahi Kasei, Avintiv, Baltex, Berry Global, and Dickson-Constant.
China is estimated to hold around 22% of the global technical textile market share.