According to a new report by Reports and Data, the global market for technical textiles is predicted to reach USD 268.97 billion by 2032. Technical textiles are functional fabrics that offer enhanced properties compared to traditional textiles and are used in various industries, including construction, home textiles, automobiles, medical, and others.
The demand for technical textiles in construction and automotive industries has risen, particularly for insulating products, rubber, floor coverings, and protective gear. Additionally, the popularity of geotextiles has grown, which has increased the economy of technical fibers. Despite generating toxic waste, technical textiles are recyclable. However, high production costs of raw materials and finished goods are a major hindrance for the technical textile market.
These factors create both opportunities and limitations for market growth, and advancements in technical textiles continue to enhance their efficiency. The European market for technical textiles has been growing, with Germany as the largest market leader, producing 50% of the region's technical textiles. The medical industry has also been using technical textiles, contributing to the growth of the market.
Access Full Report Description with Research Methodology and Table of Content @ https://www.reportsanddata.com/report-detail/technical-textile-market
Technical Textile Market Segments:
Reports and Data has segmented the global Technical Textile market for this report based on material type, process type, application, and region.
The material type outlook covers natural fiber, synthetic polymer, regenerated fiber, mineral, metal, and specialty fiber. The volume of each material type is measured in kilo tons and the revenue in USD billion for the years 2018 to 2032.
The product type outlook includes woven, non-woven, knitted, and other technical textiles. The volume of each product type is measured in kilo tons and the revenue in USD billion for the years 2018 to 2032.
The application outlook covers a wide range of industries such as mobitech, indutech, sporttech, buildtech, hometech, geotech, clothtech, and others. The volume of each application is measured in kilo tons and the revenue in USD billion for the years 2018 to 2032.
Finally, the regional outlook covers North America, Europe (including UK and France), Asia Pacific (including China, India, and Japan), and MEA. The volume of technical textiles in each region is measured in kilo tons and the revenue in USD billion for the years 2018 to 2032.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/1943
Technical Textile Market: Strategic Developments
In 2021, Teijin Limited expanded its product offerings in the automotive industry by acquiring Benet Automotive, a Spanish manufacturer of automotive interior materials. This acquisition was made with the intention of enhancing Teijin's global presence.
DuPont de Nemours, Inc. completed its merger with IFF (International Flavors Fragrances) in 2020. The newly formed entity aims to develop sustainable and innovative solutions for the textile industry, including technical textiles.
Koninklijke Ten Cate B.V. announced the acquisition of Amber Composites, a UK-based company specializing in composite materials in 2020. The acquisition was aimed at expanding Ten Cate's product offerings in the aerospace and defense industries.
Also in 2020, Berry Global Group, Inc. acquired Laddawn, Inc., a manufacturer and distributor of packaging and specialty films. This acquisition was made with the goal of expanding Berry Global Group's product offerings in the packaging industry, including technical textiles for packaging applications.
Technical Textile Market: Competitive Landscape
The global technical textile market is highly competitive and is dominated by numerous large and medium-sized companies, who are contributing to a major portion of the market revenue. These companies are actively involved in research and development, testing, and introducing innovative and effective products. To maintain a competitive edge in the market, they are deploying various strategies such as mergers acquisitions, strategic agreements contracts, and expanding their global footprint.
Some of the major companies operating in the global technical textile market include Teijin Limited, Asahi Kasei Corporation, DuPont de Nemours, Inc., Koninklijke Ten Cate B.V., 3M Company, Ahlstrom-Munksjö, Toyobo Co., Ltd., LyondellBasell Industries N.V., Kuraray Co., Ltd., Berry Global Group, Inc., and Huntsman Corporation. These companies are known for their expertise in the development of technical textiles and are continuously working towards enhancing their product portfolio to cater to the rising demand from various industries such as construction, home textiles, automobiles, medical, and others. They are also investing heavily in RD to develop sustainable and eco-friendly products, keeping in mind the increasing awareness towards environmental concerns.
Browse Our Related Links:
Construction Plastics Market Size - https://www.digitaljournal.com/pr/news/global-construction-plastics-market-size-to-reach-usd-149-94-billion-in-2032
Flexible Plastic Packaging Market Share - https://www.marketwatch.com/press-release/global-flexible-plastic-packaging-market-size-to-reach-usd-22504-billion-in-2032-2023-04-13?mod=search_headline
Reusable Packaging Market Demand - https://www.marketwatch.com/press-release/global-reusable-packaging-market-size-to-reach-usd-15180-billion-in-2032-2023-04-13?mod=search_headline
Sustainable Plastic Packaging Market Growth - https://www.marketwatch.com/press-release/sustainable-plastic-packaging-market-to-reach-usd-12750-billion-by-2032-2023-04-13?mod=search_headline
Medical Foam Market Analysis - https://www.marketwatch.com/press-release/medical-foam-market-size-to-reach-usd-4159-billion-in-2032-2023-04-13?mod=search_headline
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyse consumer behaviour shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
