Technical Textiles Industry Size, Share, Demand & Growth by 2033

-

 As per the Future Market Insights projects the technical textile market will most likely reach US$ 202.93 billion by 2023 and US$ 390 billion by 2033, growing at a CAGR of 6.7%. With the increasing demand for technical textile fiber, the global technical textile market is expected to grow quickly across a variety of end-use industries, including apparel, medical, automotive, etc.

Technical textiles are booming in fast-growing industries like automotive, construction, healthcare, infrastructure, and oil and petroleum, which drive demand for medical textiles (Medtech), specialty fabrics, industrial fabrics, protective textiles (Protech), and agricultural textiles (Agrotech).

The textile industry is growing fast, especially in the high-tech, high-performance fabric market. Technical textiles are widely manufactured using the textile coating process. Besides clothing, the textile industry continues to be a big player in technical textiles, which are applied in non-clothing applications. Textile science and technology play a distinctive role in technical textiles because of the need for understanding and applying the principle, mostly in relation to technology, but often also in engineering applications.

Request Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-286

As awareness of the environment and interdisciplinary technologies have grown, special attention has been paid to unconventional technical applications. For a healthy environment, social and economic equity, and a profitable economy, textile structures have been used in agriculture and horticulture to enhance the quality and efficiency of agriculture and food products. Materials that gradually degrade are becoming increasingly popular.

Construction entails a wide range of textiles, including concrete reinforcement, façade foundations, construction of interiors, insulation, weatherproof materials, noise reduction, air conditioning, visual protection, anti-sun protection, and building safety. Several technical textile products have been tested and certified by the International Organization for Standardization (ISO) as flame retardants, ultraviolet stabilizers (UV), and water repellants for building material applications.

Key Takeaways:

  • Due to technical textiles’ increasing use in defense and military applications, the Indian technical textiles market is expected to grow steadily.
  • Asia Pacific is expected to lead the global technical textiles market in the near future, with more than 47% market share in 2023.
  • With the growing demand for Meditech textiles in the coming years, Japan and South Korea are expected to hold over 10% of the global market in 2023.
  • The market for mobile tech textiles is forecast to grow at a CAGR of 4.5% over the forecast period.
  • According to the forecast, nonwoven-based production processes will grow at a CAGR of 4% over the next few years.

Competitive Landscape:

Expanding and penetrating new markets is both organic and inorganic for technical textile companies. New product launches, mergers, and partnerships are a few of these strategies. The key industry players are:

  • Asahi Kasei
  • Kimberly Clarke
  • Berry Global Group
  • DuPont
  • Mitsui Chemicals
  • Freudenberg & Co
  • Low & Bonar
  • Huntsman
  • Toyobo Co
  • Milliken & Company
  • SRF Limited

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Comments

Post a Comment

Popular posts from this blog

Thionyl Chloride Market Size, Share, Revenue Demand & Growth by 2034

-
Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global  thionyl chloride market  is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is
Read more

Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034

-
  The  bonded magnet market size  is projected to be around US$ 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability. One significa
Read more

Construction Chemicals Market Potential Growth, Size, Share, Demand And Analysis Of Key Players – Research Forecasts To 2031

-
 The essential nature of construction chemicals in the construction and engineering sector is expected to support market growth for the duration of the assessment period from 2021 to 2031. In a new market report, Future Market Insights (FMI) has stated the valuation of the market at US$ 39 Bn in 2020.  Construction chemicals  play critical roles in construction projects including coatings, additives, sealants and more. Affordable housing and smart city projects are major influencers of demand. Strong demand for concrete admixtures, plasticizers in particular is driving the growth of the construction chemicals market. The high degree of workability in areas requiring high levels of reinforcement in high rise buildings and public infrastructure projects will support sales prospects in the coming years. The Asia Pacific excluding Japan region is expected to remain dominant. Major urbanization projects and substantial manufacturing facilities in China are likely to aid expansion of the
Read more