Press release
Technical Textile Market Outlook 2020-2027 : Industry Growth Analysis and Forecast Report | Milliken & Company, Toyobo Co., Berry Global Group, Low & Bonar, Huntsman, Mitsui Chemicals, and Asahi Kasei
Global Technical Textile Market was valued at USD 160.23 billion in 2019 which is expected to reach USD 225.55 billion by 2027 at a CAGR 6.2%.Technical textiles are the functional fabrics which are used in various industries such as construction, automobiles, and others. Technical textile material exhibit enhanced performance than conventional textiles. Technical textiles material classified into two types such as natural and synthetic fibers (like vinalon, vinyon, spandex, twaron, Kevlar, Nomex, and Others).
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Market Drivers
Rise in demand for geotextile from developing economics as well as increase in preference towards nonwoven technical fabrics will boost the global technical textile market growth. Also, increase in demand for construction textiles and rise in government initiatives to promote technical textile use which are expected to propel global technical textile market growth. Furthermore, increase in demand for technical textiles in agriculture sector which is expected to drive the growth of global technical textiles market growth. Moreover, increase in awareness regarding the benefits of the technical textile will have the positive impact on global technical textile market growth.
Market Restraints
However, high cost of finished goods as well as raw materialsare the restraining factors which are expected to hamper the global technical textile market. Further, increase in toxic waste gemneration will affect the global technical textile market growth.Also, shortage in supply of raw materials due to COVID 19 Pandemic which is expected to hinder the global technical textile market growth.
Market Key Players
Various key players are discussed in this report such as Milliken & Company, Toyobo Co., Berry Global Group, Freudenberg & Co., Low & Bonar, Huntsman, Mitsui Chemicals, Kimberley-Clark, and Asahi Kasei.
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Market Taxonomy
By Type
• Nonwoven
• Woven
• Others
By Material
• Composite
• Uniform
By End Use Application
• OekoTech
• GeoTech
• PackTech
• ProTech
• AgroTech
• MediTech
• ClothTech
• BuildTech
• SportTech
• InduTech
• Mobil Tech
By Region
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa
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About Us:-
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.
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