Technical Textile Market is Projected to Record Growth US$ 222.4 billion by 2025, MarketsandMarkets™ Study

Technical Textile Market is Projected to Record Growth US$ 222.4 billion by 2025, MarketsandMarkets™ Study

December 13
22:55 2022
Technical Textile Market is Projected to Record Growth US$ 222.4 billion by 2025, MarketsandMarkets™ Study
Browse 200 market data Tables and 55 Figures spread through 248 Pages and in-depth TOC on “Technical Textile Market”
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

According to Textile Institute Manchester, technical textiles can be defined as “Materials and products intended for end-uses other than non-protective clothing, household furnishing, and floor covering, where the fabric or fibrous component is selected principally but not exclusively for its performance and properties as opposed to its aesthetic or decorative characteristics.” The growth of this market is attributed to the increase in the demand for technical textile products globally due to the surge in demand for  N95 masks and PPE kit for COVID-19 prevention. The growth in the end-use industries (such as automobile, construction, healthcare, packaging, agriculture, and textile) has generated new opportunities for the technical textile market. However, factors such as volatility in raw material prices may inhibit the growth of the market. 

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MarketsandMarkets expects the global technical textile market size 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. The technical textiles market is expected to witness significant growth in the future with the increasing popularity of their benefits and the number of applications they find in various industries. Rapid industrialization, growing automotive demand, and huge infrastructure investments, especially in the emerging markets are projected to aid the global technical textile market. 

Based on material, the technical textile market is segmented into the natural fiber, synthetic polymer, regenerated fiber, mineral, metal, and specialty fiber. The synthetic polymer segment is projected to grow at the highest CAGR from 2020 to 2025. These polymers have superior qualities than normal man-made fibers, therefore they have wide industrial applications. 

Based on process, the technical textile market is segmented into woven, non-woven, knitted and others. The woven segment is projected to grow at the highest CAGR from 2020 to 2025. Woven technical textiles find applications in various industries such as medical & healthcare, household care, automobile and others. The growth in these industries can be attributed to the rise in disposable income levels and rapid urbanization, which are subsequently driving the woven technical textile market. 

Based on application, the mobile segment is projected to grow at the highest CAGR from 2020 to 2025. Growing demand in the automobile industry has been one of the most important factors for technical textile, and it is expected to rise further over the next seven years, the revenue generated through sales of technical textile is expected to increase as a consequence. 

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The technical textile market in the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025; China projected to be the fastest-growing market, by country. According to the Population Reference Bureau, the fastest-growing consumer markets of China, India, and other Asia Pacific countries had a combined population exceeding four billion people (as of 2019), which is projected to become an increasingly important driver for global consumption of technical textile over the next two decades, led by rapidly rising household incomes and the fast-growing middle-class population. Increased construction spending in emerging counties is expected to trigger the demand for technical textiles in buildings and construction which in turn is expected to drive the growth of the market. 

Additionally, durability, environmentally friendly, and the sustainable nature of the raw materials determine their applicability and also accelerate their demand & need for various applications across different end-use industries. These technical textile are widely used during the COVID-19 pandemic for the production of face masks, protective garments, and wipes.

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) and others.

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