NEW YORK, Feb. 15, 2023 /PRNewswire/ -- According to Technavio, the global technical textiles market size is estimated to grow by USD 59.78 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 4.92% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 183.34 billion. APAC will account for 52% of the market's growth during the forecast period.

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Global technical textiles market - Five Forces
The global technical textiles market is fragmented, and the five forces analysis covers–

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global technical textiles market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global technical textiles market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (Mobiltech, Indutech, Sporttech, Buildtech, and Others),

• The mobiltech segment will account for a significant share of the global market during the forecast period. Technical textiles utilized in the automotive or transportation industries are referred to as mobiltech textiles. The term 'mobiltech' refers to textiles with integrated automotive textile technology. It covers a broad spectrum of automotive applications and parts (including aerospace, aircraft, railways, and marine vehicles). It encompasses more than the notion of isolation and safety. It also focuses on comfort and style. Such factors will increase the market growth during the forecast period.

Geography Overview
By geography, the global technical textiles market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global technical textiles market.

• APAC is estimated to account for 52% of the growth of the global market during the forecast period. Owing to factors like rapid urbanization and technological advancements in the healthcare, automotive, and construction industries, APAC has experienced tremendous growth in this sector and currently holds the largest market share. Easy production, inexpensive labor, and favorable government policy support further encourage this. China has been able to maintain its dominance as the world's top producer of textiles and apparel. China's textile industry has remained robust and prosperous despite setbacks like decreased exports of textiles and apparel and rising competition from nations like India. China's ability to produce and meet market demand for cutting-edge technical textiles is one specific development that will set it apart from its rivals in the near future. This will have a positive impact on market growth.

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Global technical textiles market – Market Dynamics
Key factor driving market growth

• The rising importance of healthcare and hygiene is notably driving market growth. 

• People's spending power has increased as a result of their increased income, and they are prepared to spend more money on their health and hygiene.

• People are more worried about their health now because of the country's increasing risk of pollution and diseases. They are increasingly moving toward cleaner, healthier lifestyles that require the use of things like wipes, face masks, diapers, tooth floss, ear buds, sanitary napkins, etc. Each of these goods uses different types of technical textiles, and as the final products are used more frequently, so has the consumption of technical textiles.

• Surgical dressings, disposable bed sheets, sutures, medical gowns and masks, artificial valves, artificial hearts, and other medical devices all make substantial use of technical textiles. Hence, such factors are expected to drive the growth of the global market during the forecast period.

Leading trends influencing the market 

• The growing use of geotechnical textiles is an emerging trend in the market.

• Geotechnical textiles are technical textile items used in geological applications involving rock, soil, or other natural elements in civil engineering projects.

• They are made from natural and synthetic fibers utilizing weaving, knitting, and non-woven techniques. Due to their unique technical qualities, including drapability, inertial strength, ecological efficiency, low maintenance, customizable fabric, fineness, and low extensibility, as well as their commercial benefits, including easy access to customized fabric and comparative economy, geotechnical textiles are becoming more popular on both domestic and international markets.

• Moreover, the geosynthetic is made from a polymeric substance when utilized with soil, rock, or other geotechnical-related materials. Polypropylene, polyester, or polyethylene synthetic polymers are used to create most geosynthetic materials.

• The current range of geosynthetic goods includes, but is not limited to, geotextiles, geogrids, geonets, geomeshes, and geocomposites. Thus, the growing use of geotechnical textiles is one of the growing trends which is expected to drive the growth of the global market during the forecast period.

Major challenges hindering the market growth

• The lack of availability of a skilled workforce is a major challenge impeding market growth. 

• Technical textiles is a very diverse field that uses many manufacturing procedures to create various goods. These procedures call for people with specialized skill sets which are not already present in the domestic business.

• Most government initiatives for workforce development concentrate on fundamental textiles like spinning, weaving, and clothing production.

• For technical textiles, no such specialized curricula have been devised. It is urgently necessary to set up particular forums for dialogue between businesses and academics to build specialized curricula for technical textiles to address this problem.

• Additionally, the government might adjust its programs for developing human resources to better suit the needs of the technical textiles sector.

• Thus, the lack of availability of a skilled workforce can become a major challenge for the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this technical textiles market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the technical textiles market between 2023 and 2027

• Precise estimation of the size of the technical textiles market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the technical textiles market industry across APAC, North America, Europe, South America, and Middle East and Africa

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of technical textiles market vendors

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Related Reports:

• The technical textiles market in Europe size is expected to increase to USD 8.5 billion from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 4.54%. This report extensively covers market segmentation by application (mobiltech, indutech, sporttech, buildtech, and others), and product (woven, composites, and nonwoven). 

• The size of the medical textiles market is expected to increase by USD 6,097.14 million from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 5.92%. This report extensively covers market segmentation by product (woven medical textiles, non-woven medical textiles, and knitted textiles), application (surgical, healthcare and hygiene products, and extracorporeal), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global technical textiles market 2017 - 2021

• 4.2 Application Segment Analysis 2017 - 2021

• 4.3 Product type Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Application

• 6.1 Market segments

• 6.2 Comparison by Application

• 6.3 Mobiltech - Market size and forecast 2022-2027

• 6.4 Indutech - Market size and forecast 2022-2027

• 6.5 Sporttech - Market size and forecast 2022-2027

• 6.6 Buildtech - Market size and forecast 2022-2027

• 6.7 Others - Market size and forecast 2022-2027

• 6.8 Market opportunity by Application

7 Market Segmentation by Product Type

• 7.1 Market segments

• 7.2 Comparison by Product Type

• 7.3 Woven - Market size and forecast 2022-2027

• 7.4 Composites - Market size and forecast 2022-2027

• 7.5 Nonwoven - Market size and forecast 2022-2027

• 7.6 Market opportunity by Product Type

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027

• 9.4 North America - Market size and forecast 2022-2027

• 9.5 Europe - Market size and forecast 2022-2027

• 9.6 South America - Market size and forecast 2022-2027

• 9.7 Middle East and Africa - Market size and forecast 2022-2027

• 9.8 China - Market size and forecast 2022-2027

• 9.9 US - Market size and forecast 2022-2027

• 9.10 India - Market size and forecast 2022-2027

• 9.11 Japan - Market size and forecast 2022-2027

• 9.12 Germany - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 3M Co.

• 12.4 Ahlstrom Munksjo

• 12.5 Asahi Kasei Corp.

• 12.6 Berry Global Inc.

• 12.7 DuPont de Nemours Inc.

• 12.8 Duvaltex Inc.

• 12.9 Freudenberg Performance Materials

• 12.10 HUESKER Synthetic GmbH

• 12.11 Huntsman Corp.

• 12.12 Indian Technical Textile Association

• 12.13 Milliken and Co.

• 12.14 Mitsui Chemicals Inc.

• 12.15 SRF Ltd.

• 12.16 Toray Industries Inc.

• 12.17 Toyobo Co. Ltd.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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