Technical Textiles Market Worth 42.20 Million Metric Tons by 2020
By PRN NewsWire
By PRN NewsWire
PUNE, India, October 9, 2015 /PRNewswire/ —
The report “Technical Textile Market by Product (Fabric, Unspun Fiber, Yarn-type Products), Technology (Nonwoven, Fabric, Weaving, Knitting, Spinning), Fiber (Synthetic, Natural, Specialty), Application (Mobiltech, Indutech, Sportech, Others), Colorant (Dye, Pigment), Fabric – Global Forecast to 2020”, published by MarketsandMarkets, The Technical Textiles Market, in terms of volume, is projected to reach 42.20 Million Metric Tons by 2020, at a CAGR of around 4.68% from 2015 to 2020.
Browse 235 market data Tables and 53 Figures spread through 245 Pages and in-depth TOC on “Technical Textile Market”
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The market report defines and segments the Technical Textiles Market with analysis and projection of the global size and trends, in terms of value as well as volume. It also identifies the driving and restraining factors for the market with analyses of opportunities, burning issues, and challenges.
Technical textiles are special grades of textiles that have specific chemical & functional characteristics and properties and are designed for some particular end use. The Technical Textiles Market, in terms of volume, is projected to reach 42.20 Million Metric Tons by 2020, at a CAGR of around 4.68% from 2015 to 2020. Factors such as improving economic conditions of countries, technology advancements, and increasing end-use applications are the major drivers of the Technical Textiles Market. The health & safety, cost effectiveness, durability, high strength, lightweight, versatility, customization, user-friendliness, and eco-friendliness of technical textiles components & techniques have helped towards its acceptance and penetration in the global market. Several innovations and R&D in designs, fiber, and technological advancements have been witnessed by the industry in the last decade.
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Technical textile industry has witnessed remarkable growth in the past few years and this growth is estimated to increase in the coming years, this trend is estimated to have a positive impact on the demand for technical textiles. The sector has undergone significant industrial changes with the increasing significance of new applications in medical, automobile, sport and leisure, environment, and industrial sectors. Automobile and medical sectors are the fastest growing sectors, continuously expanding and mounting the demand for technical textiles. These industries has been improving their existing market share and creating innovative products through new developments, which in turn enabling the Technical Textiles Market growth. The increase in population, urbanization, developing economy, demand for infrastructure, contribution to GDP, and growth in automobile, construction, packaging, and healthcare sector, are the few factors that are driving the market for technical textiles globally. On the other hand, factors such as the high price of technical textiles products affects the pricing structure of the intermediate industries which makes the final product available to the customer.
The market has been segmented on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW), wherein their value and volume has been projected. The size of the markets in key countries has also been covered and projected. The major players of the textiles industry are E. I. du Pont de Nemours and Co (U.S.), Asahi Kasei Corporation (Japan), Kimberly Clarke Corporation (U.S.), Mitsui Chemicals, Inc. (Tokyo), and Freudenberg & Co. KG (Germany). These players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include expansions and investments, mergers and acquisitions, new product launches, and agreements.
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