Technical Textiles Market Segmentations:
By Technology (Thermoforming, 3D Weaving, 3D Knitting, Nanofibers, Heat-set Synthetics, Finishing Treatments, Hand-made Elements, Others), By Application (Mobiltech, Indutech, Sportech, Buildtech, Hometech, Clothtech, Meditech, Agrotech, Protech, Packtech, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-use Landscape; Vendor Landscape, and Competitor Analysis
Market Insights:
The global technical textile industry is anticipated to grow at a CAGR of more than 6% from 2017 to 2025. Technical textiles are welfare textiles used for their varied and multifunctional properties. They are produced for non-aesthetic purposes and offer various benefits in their functional aspect for enhancing health & safety.
The overall growth of the industry is attributed to rising demand for hometech and mobiltech textile. These are used as an application in mobiltech, as it reduces the weight of vehicles by providing light advanced material that is strong & long lasting.
Various parts of vehicles such as seat upholstery, carpets, seat belts, headliners, tire cords, liners, civil and military aircraft bodies, wings, and engine components are made up of technical textiles due to their light weight and high quality.
Technology Insights:
Needle punching is the most commonly used technology amongst the various methods of producing nonwovens. This method has gained popularity as it does not require water, consumes less energy, and enables speedy & high degree flexibility in production.
The products which can be produced by using this technology include interlinings, automotive carpeting, insulation, filters, felts, tennis court surfaces, and blankets among others.
Application Insights:
Automobile and medical sectors are anticipated to stimulate the growth of global textiles industry. Most of the share in global technical textile market is backed by mobiltech, used in transportation. Mobiltech covers a variety of products such as seat belts, seat covers, composite panels, car covers, carpets, and airbags
These industries are projected to enhance their existing market share and create innovative products through new developments. Rising population, urbanization, developing economies, demand for infrastructure, and growth in automobiles production are some of the factors that are projected to drive the technical textiles market.
The high cost of these products affects the pricing structure of the intermediary industry which makes the final product costlier for the customers. This limits the demand for the product.
Regional Insights:
Asia-Pacific registered the highest revenue in 2016, which is projected to grow at CAGR of 7% from 2017 to 2025. It is also likely to maintain a dominant position over the coming years. Europe and North America recorded the second and third leading regions in the technical textile industry respectively.
The growing construction activities in emerging economies such as India and China have powered the growth of hometech textiles for household applications. Government regulations made the use of geosynthesis mandatory in infrastructure development projects hence increasing the demand for these products.
Brazil is anticipated to witness a high growth over the next few years. The Brazilian textile industry is rapidly growing due to the acquisition of modern equipment and technical development.
End Use Landscape:
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from technical textiles Market. The major consumers of the product are Toyota, Volkswagen Group, and Hyundai.
Competitor Analysis:
The market is highly competitive due to the presence of a large number of global and regional vendors. Some of the major players include Ahlstrom Corporation, Johns Manville, DuPont de Nemours &Co., Proctor & Gamble, 3M Company, Huesker Synthetic GmbH, GSE Environmental Inc., and Hindustan Technical Fabrics Limited.
In October, 2013, Johns Manville, a Berkshire Hathaway Company, announced a USD 38 million investment in a state-of-the-art PET spun bond line for filtration products at its manufacturing site in Berlin. It has also announced the use of micro glass fibre nonwovens in HVAC filtration applications as well as aircraft insulation.
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