Technical Textile Market 2019 Rising Trends and New Technologies with Leading Players: 3M, DuPont, Ahlstrom, Johns Manville, HUESKER Group, DiloGroup, Hindoostan Technical Fabrics Limited, Procter & Gamble, Freudenberg Group, TenCate, GSE Environmental
The topic of market segmentation covers research and analysis based on application, vertical, deployment model, end user, and geography. In addition, competitive analysis assists to get ideas about the strategies of key players in the market via this Technical Textile report. Some of these strategies can be named as; new product launches, expansions, agreements, partnerships, joint ventures, acquisitions, and others that help to broaden their footprints in the Abc industry. The market share of key competitors on global level is studied where main regions such as Europe, North America, Asia Pacific and South America are covered in this Technical Textile market report
Market Analysis: Global Technical Textile Market
Global Technical Textile Market is projected to register a healthy CAGR of 10.4% in the forecast period of 2019 to 2026.
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Major Players: Global Technical Textile Market
Some of the major players operating in this market are DuPont, Ahlstrom-Munksjö, Freudenberg Performance Materials, Koninklijke Ten Cate bv, Lenzing Plastics, Low & Bonar, Mitsui Chemicals, Inc., Alexium International, Berry Global Inc., DeRoyal Industries, Inc, Swift Textile Metalizing LLC, Toyobo Co., Ltd., Asahi Kasei Corporation, SRF Limited, ITG Company and others.
Business Expansion: Global Technical Textile Market
• In September 2018, Asahi Kasei Corporation has completed the acquisition of Sage Automotive Interiors, Inc. (Sage). Sage Automotive Interiors is the U.S based manufacturer of interior. Sage Automotive Interiors is a leading global supplier of specialty-designed, high-performance technical textiles for the automotive industry and now company will be the wholly owned consolidated subsidiaries of Asahi Kasei Corporation.
• In November 2017, DuPont Protection Solution announced the collaboration with Belkin, a market leader in mobile accessories for the development of premium line of cables built with DuPont Kevlar for extreme durability.
• In June 2018, DuPont Safety & Construction, a business unit of DowDuPont Specialty Products Division announced that they will invest more than $400 million to expand the capacity for the manufacturing of Tyvek nonwoven material
Competitive Landscape: Global Technical Textile Market
The global technical textile market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Technical Textile market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
In 2016, DiloGroup (Germany) introduced its latest products and development at CINTE Techtextil China, CINTE Techtextil China is the Asia’s leading biennial trade fair for technical textile.
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Market Drivers: Global Technical Textile Market
• High adaptability and awareness of products
• Growing demand from emerging industrial markets
• Raising demand for new applications areas
Market Restraint: Global Technical Textile Market
• High cost of finished product affects the pricing structure
• Varying environmental mandates across regions
Restraints: Global Technical Textile Market
High Cost of Raw Materials Used In the Technical Fabrics:
The demand of the technical fabrics is directly associated with the growth of economy of textile industry. In the textile industry the overall 66.0% of the total cost depends on the raw materials. From the starting to the final product the textile industry includes various steps such as from cotton picking through spinning and weaving to finishing.
The technical textile is produced from the process of spinning and twisting and the raw material used in the textiles are natural threads, fibers, chemical fibers, dyes and many more which have desired properties. The natural fibers included in the technical textiles are cotton, jute, silk and coir, whereas manmade raw materials used are iscose, PES, nylon, acrylic/mod acrylic, polypropylene and the polymers like high density poly ethylene (HDPE), low density poly ethylene (LDPE) and poly vinyl chloride (PVC), which is widely used in around 40.0% in the technical textile.
High cost of raw materials used in the fabric processing increases the total cost of product and reduces the profit to the industry. For instance,
• According to the Samruk Kazyna in November 2016, in China the cost of polypropylene was USD 1,028 per ton (USD 1.028 per Kg).
• According to the suppliers in 2018, the cost of polypropylene is USD 1.1-3.5 per Kg, whereas the cost of chemical dyes used in the textile industry is USD 3.07-3.85/Kg.
Hence, high cost of the raw materials is impacting the overall production cost of textile industry restraining the growth of the market in the forecast period.
OPPORTUNITIES: Global Technical Textile Market
Recyclability of the Technical Textiles:
The Technical Textiles and Nonwoven Association of Australia, called various countries to support the investigation of National Carpet Recycling Program and for a Cooperative Research Centre for sustainable products and plastics, including the reprocessing or depolymerisation of materials to be established with the textile/carpet sector
Textile industry is largest consumer good industry, every person require garments and other daily need products which is made up of the textiles such as bags, footwear and many more. The manufacturing of the goods made up of textiles releases high amount of pollution and also the consumption of textiles release high waste. To reduce the waste and pollution produce from the textile industry, textile recycling and reproduction & reuse of fibers from textile waste is used.
• According to the company Evrnu (U.S.), they have a recycling process in which they use old textiles and convert them into the fibres to make new textiles. This reduces the consumption of water. The textile designed by the company is 100% recyclable.
• In June 2018, SOEX (India) and I:CO launched the first recycling system for all kind of foot wears, this recycling system will reduce the waste volume and the recycled material will be used in the production of new products.
Hence rising innovative technology associated with the recycling of the technical textiles used for personal care as well as for other purposes and rising concern amongst manufacturer to produce the recyclable textiles is the major opportunity in the growth of the technical textile market.
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