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Global Technical Textile Market Growth Accelerated by Increased Application Across Industries

Technical Textile Market

Technical textiles are advanced textile materials and products manufactured primarily for non-aesthetic functional purposes. They find extensive application in construction, automotive, protection, agriculture, medical and hygiene industries to impart qualities like strength, durability and protection. Different types of technical textiles include coated fabrics, knitted fabrics, non-woven fabrics, high tenacity yarns and composites. The growing construction activities along with the increasing usage of light weight and durable materials in the automotive industry have augmented the demand for technical textiles.

The global Technical Textile Market is estimated to be valued at US$ 4575.47 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The market has witnessed augmented demand driven by the increasing application of technical textiles across different industries over the past few years. One of the major trends spurring the market growth is the rising usage of technical textiles in the construction industry. Different types of technical textiles such as geo-textiles, roofing fabrics and concrete reinforcing textiles are extensively used in construction activities due to properties like durability, strength and stability. Their ability to improve longevity and performance of infrastructure has increased their adoption in the construction of roads, buildings and bridges. This growing construction expenditure, especially in emerging nations is expected to present remunerative opportunities for technical textile manufacturers over the forecast period.

Segment Analysis

The global technical textile market is dominated by the industrial technical textiles segment, which accounts for approximately 46% of the overall market share. Industrial technical textiles find wide application in various industries such as automotive, construction, agriculture, medical and more. They offer high durability, strength, and resistance to harsh environmental conditions making them ideal for applications that require heavy duty performance.

Key Takeaways

The Global Technical Textile Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 8,354.6 Mn by 2030, expanding at a CAGR of 7.6% from 2023 to 2030.

Regional analysis

Asia Pacific currently holds the largest share of the overall technical textiles market and is expected to continue its dominance over the forecast period. Rapid industrialization and infrastructure development activities in countries such as China and India are driving the demand for technical textiles in the region. Additionally, the presence of a large number of textile manufacturing units in Asia Pacific makes it an attractive market for key players.

Key players

Key players operating in the technical textile market are Canary Whistleblowing System, Convercent, EQS Group AG, Ethicontrol, OU, Expolink Europe Ltd, GlobaLeaks, Got Ethics A/S., NAVEX Global, Inc., OneTrust, LLC, Safecall Ltd, Whispli Inc., WhistleB solution, WhistleBlower Security, Your Call, and EasyWhistle. These players are focusing on new product development and expansion strategies to gain a competitive advantage in the market.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/technical-textile-market-size-and-trends-analysis/

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