Technical Textiles – Market Drivers and Forecasts from Technavio

Technavio publishes a new market research report on the global technical textiles market from 2016-2020. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global technical textiles market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global technical textiles market for 2016-2020. The report provides the revenue figures for the categories of technical textiles and provides the consumption volume in APAC, the Americas, and EMEA during 2016-2020.

The technical textile industry is foreseen to account for over 45% of the total textiles produced in certain industrialized countries. Textile manufacturers in industrialized countries are manufacturing technical textiles due to growing rivalry and decreasing profit margins. These textiles offer higher profit margins as their use is directed by need.

The use of technical textiles in the healthcare industry as biophysical monitoring systems, patient tracking devices, and medical supplies is expected to foster the demand for these textiles. Europe is the largest consumer of technical textiles, followed by North America.

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Technavio chemicals and materials analysts highlight the following four factors that are contributing to the growth of the global technical textiles market:

  • Growing demand for geotextiles
  • Technical textiles in electronics
  • Increase in demand for nonwoven technical textiles
  • Government initiatives

Growing demand for geotextiles

Ajay Adikhari, a lead textiles, fiber, and composites analyst at Technavio, says, “The global geotextile market is expected to reach around USD 8.7 billion in 2020, growing at a CAGR of almost 11% during 2016-2020. Geotextiles are robust technical textiles characterized by puncture resistance, larger elongation before breaking, filter characteristics during strains, and high ultraviolet protection. Geotextiles possess a wide range of mechanical and physical properties, and their properties can be altered by using different polymers.”

Technical textiles in electronics

Electronic textiles are fabrics embedded with digital components. These textiles offer physical elasticity and characteristic size that cannot be achieved with other prevailing electronic manufacturing techniques. Microelectronic components can also be incorporated into the fabric; they are less visible and vulnerable to tangling from adjacent objects.

“The novel materials are opening potential applications in commercial products, especially communication, healthcare, protection, and wearable technology applications. These textiles are used for performance purposes, which include the monitoring of vital signs, sports training data acquisition, insulation against extreme radiations, communication, and regaining lost sensory perception,” adds Ajay.

Increase in demand for nonwoven technical textiles

Nonwoven technical textiles are used for manufacturing hygiene products such as diapers, sanitary napkins, bandages, and wipes. These technical textiles are replacing woven technical textiles in many applications, including geotextile, medical, filter, and packaging applications. Some of the noteworthy factors that have been increasing the demand for nonwoven technical textiles are:

  • Alterations in consumer demand and changing lifestyle products
  • Growth of organized retail market
  • Huge raw material base

Government initiatives

The governments of various countries have set up agencies and research centers for the development of technical textiles. In addition to providing financial support, favorable policies also assure incentives to vendors in the market. For example, the governments of India and China have concentrated the customs duty on polyester chips, polyester staple fiber, tow, and polyester filament yarns from 10% to 5%.

In India, there is a strong focus on the further development of the technical textiles industry as the government making is significant efforts to support small- and medium- sized enterprises and encourage exports. Furthermore, in the EU, the European Economic and Social Committee (EESC) has identified technical textiles as a promising and steady growth field for textile vendors and are focusing on the enhancement of skills and the training of the workforce.

Top vendors:

  • Ahlstrom
  • Berry Plastics
  • DuPont
  • Kimberly-Clark
  • TWE

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global technical textiles market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com