Published on : Apr 23, 2018
ALBANY, New York, Apr 23, 2018: The global technical textile market is foreseen to create rewarding opportunities while riding on leading end users such as Packtech having exhibited a remarkable growth rate in the recent years. Increasing environmental concerns, escalating demand for reusable packages, and high awareness regarding the use of biodegradable packaging fabric could be crucial factors supporting the growth of Packtech. In a report added by ResearchMoz.us, the market is predicted to expand at a 4.9% CAGR between 2018 and 2023. It bears the title “Global Technical Textile Market: Analysis By Type (Woven Textiles, Non-Woven Textiles), End-User Segments (Packtech, Mobiltech, Meditech, Geotech, Buildtech), By Region, By Country (2018 Edition) Forecast to 2023.”
The demand for technical textile is anticipated to gain strength on the back of increasing requirement in the healthcare industry and rising automobile production. Strong growth witnessed in infrastructure and construction projects could be another factor augmenting the demand in the world technical textile market. Players may want to cash in on expanding textile research budgets, increasing influence of nanotechnology in textile innovation, and the introduction of more efficient and newer processing technologies to achieve growth in the market. Furthermore, fiber and polymer science breakthroughs and constant development of advanced and novel technical textiles such as flexible materials are expected to set the tone for a valuable growth in the market.
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According to the report, the world technical textile market can be classified into Hometech, Geotech, Meditech, Meditech, Mobiltech, and Packtech as per end user. In terms of product, the report has segregated the market into non-woven and woven technical textiles. Some analysts foretell the market to gain from emerging regions hungry for infrastructure development and their telling demand for geotextiles. Medical-grade technical textiles are projected to find large demand along with rewarding prospects opened up by electrical simulation, regenerative medicine, and wound closure.
The international technical textile market could benefit from biodegradability and superhydrophobicity features available with super cellulosics. Growing interest in technical fabrics such as fiber-based composites to replace steel in aircraft and automobile production could also augur well for the market. As per the findings of the report, Asia Pacific is envisioned to showcase higher growth in the market by the end of 2018. Some of the important factors increasing growth in this region could be rapid urbanization, aggressive infrastructure development, increasing disposable income, and swelling healthcare spending. Household application of Hometech textiles is prognosticated to become prominent in China and India with increasing housing and construction activities.
Europe and North America are expected to be other regions with rewarding growth in the international technical textile market. The report has shed light on the market’s competitive landscape and analyzed key companies such as Kimberly-Clark, Royal Ten Cate NV, and Freudenberg Group.
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