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Technical Textiles Market: Exponential Growth Driven by Infrastructure Modernization and Sustainability Trends
Technical Textiles Market
What Is The Projected Market Size Of The Global Technical Textiles Market And Its Growth Rate?
The global technical textiles market has seen substantial growth in recent years, and this is expected to continue. Key statistics include:
• 2024 Market Size: $237.87 billion
• 2025 Market Size: $256.06 billion (7.6% CAGR)
• 2029 Market Size: $362.67 billion (9.1% CAGR)
Driving this growth is a wide range of factors including infrastructure development, environmental awareness, industrial growth safety, protection regulations, military and defense needs.
What Is Driving The Growth In The Technical Textiles Market?
The growth in the technical textiles market is largely driven by rising demand from various end-use sectors which include medical, hygiene, military, and defense, etc. Increasing awareness about hygiene products and the rising demand for medical apparel plays a significant role in escalating market growth. Moreover, rising military expenditure on things like protective ballistic armors contributes substantially to rising global demand for technical textiles. For instance, the Australia's government proposed a defense budget for fiscal 2023 (July 2023 to June 2024), of 42.9 billion Australian dollars ($29 billion), showing a noticeable increase from what was predicted in October the previous year.
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Who Are the Key Players Driving Technical Textiles Market Growth?
The technical textiles market is heavily influenced by these major companies:
• Asahi Kasei Kimberly-Clark Corporation
• Berry Global Group Inc.
• DuPont de Nemours Inc.
• Mitsui Chemicals Inc.
• Freudenberg & Co KG
• Low & Bonar Group plc.
• Huntsman Corporation.
• Toyobo Co Ltd.
• Milliken & Company
• SRF Limited
What Are The Key Trends In The Technical Textiles Market?
Several major trends are currently shaping the technical textiles market:
• The use of nanotechnology in textiles
• Adoption of 3D printing technology
• The emergence of biodegradable technical textiles
• Increasing use of digital printing
• Advancements in robotic textile manufacturing
What Are The Segments Of The Global Technical Textiles Market?
There are three primary segments of the technical textiles market:
1) By Material: Natural Fiber, Synthetic Polymer, Regenerated Fiber, Mineral, Metal.
2) By Process: Woven, Knitted, Non-woven.
3) By Application: Transport Textiles, Medical And Hygiene Textiles, Industrial Products And Components, Agriculture, Horticulture, And Fishing, Home Textiles, Clothing Components, Packaging And Containment.
Which Region Leads The Technical Textiles Market?
In 2024, Asia-Pacific was the leading region in the global technical textiles market. Predictions show it continuing a trend of rapid growth throughout the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
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What Is Covered In The Technical Textiles Market Global Market Report?
- Market Size Analysis: Analyze the Technical Textiles Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Technical Textiles Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Technical Textiles Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Technical Textiles Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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