Home > Pressrelease > Technical Textiles Market size to be worth over USD 230 billion by 2028

Technical Textiles Market size to be worth over USD 230 billion by 2028

  • Published Date: June 21, 2022

According to a new research study published by Global Market Insights, Inc., Technical Textiles Market size is expected to exceed USD 230 billion by the end of 2028.
 

The demand for technical textiles is rising based on their end-use applications. Technical textiles are known for their superior features over the traditional counterparts and are used for specific purposes. Features & characteristics &, such as higher strength, superior technical performance, and versatility, make them desirable for various domestic use, commercial & industrial use.
 

Technical textiles find many significant applications in the packaging industry. Technical textiles are significantly used to produce various packaging materials such as polyolefin woven sacks, Flexible Intermediate Bulk Containers (FIBC), leno bags, and jute hessian, among others. Polyolefin woven sacks have various features such as lower price, durable, moisture-proof, minimal seepage, lightweight, and higher strength.
 

Packaging manufacturers are witnessing rising environmental pressures in terms of biodegradable and/or disposable solutions that can be recycled or reused. Such demands are also likely to lead to a shift from materials which have less durability, such as paper, to highly engineered non-woven for consumer product packaging. Non-woven solutions are likely to observe a significant demand from the food industry and in packaging medicines & electronic parts owing to their various properties such as low priced, light weight, and moisture-resistant, among others.
 

Availability of product substitutes in the industry is restraining the market demand

The availability of different substitutes is a key restraining factor in the global technical textiles market. Technical textiles find a wide range of applications in the packaging, construction & automotive industries. In the packaging industry, technical textiles are frequently substituted by Plastic [Polypropylene (PP)], which is available at comparatively low prices. In the construction sector, it is used in various applications such as waterproof fabrics, where technical textiles can be substituted by glass fibers and aramids. Despite the availability of different types of substitutes, the technical textiles industry is growing owing to their unique properties such as environmental safety, lightweight construction materials, and high performance.
 

Browse key industry insights spread across 300 pages with 341 market data tables & 26 figures & charts from the report, “Technical Textiles Market Forecasts  by Material (Natural Fibers, Synthetic Polymers, Minerals, Others), Type (Woven, Knitted, Non-woven, Others) and Application (Mobiltech, Indutech, Protech, Buildtech, Packtech, Meditech, Sportech, Geotech, Clothtech, Others), Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2022 - 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/technical-textiles-market
 

Technical textiles market from natural fiber segment is projected to surpass USD 50 billion by 2028. Compared to other technical textiles materials, natural fiber is eco-friendly and has renewability & biodegradability properties. Natural fibers have lower density, are non-toxic, and abundant with a continuous supply. This increases the longevity and durability of technical textiles, which can last for years without losing their performance. Moreover, natural fibers are abundant & renewable resources that are light weight, cost-efficient compared to other technical textile materials, and have good mechanical properties.
 

The technical textiles market from meditech is estimated to grow at a CAGR of over 5% through 2028. This segment attained a significant market size in 2021 on account of increasing sales and production of surgical disposables to curb the spread of COVID-19. Surgical disposables consist of covers, caps are made of spun-bond fabric. In addition, the evolution of textile implants for sutures, artificial ligaments, and artificial joints has opened new opportunities for technical textiles in the healthcare industry.
 

North America market will hold over 30% revenue share by the end of 2028. Improvements in the overall economic growth are, in turn, expected to support the business expansion. The North America construction industry is the key factor driving the regional technical textiles market growth. The U.S. is the world’s largest construction market with expenditures accounting for over USD 1,360 billion. The residential construction sector is the primary driver of the booming construction industry. New construction projects in the U.S. are majorly concentrated in South Atlantic, accounting for a value of USD 0.22 million, and the Pacific area, accounting for USD 0.23 million. Hence, these regions have the highest potential for contributing to the rising demand for technical textile services in the future.
 

Some of the major manufacturers in technical textiles industry include Asahi Kasei, Freudenberg Performance Materials, Heathcoat Fabrics Ltd., Dupont, Toyobo Co., Milliken & Company, Huntsman International LLC, Kimberly-Clark’s, and Nobletex Industries Ltd.
 

Authors: Kiran Pulidindi, Akshay Prakash