Technical Textiles Consumption to Surpass 37 Million Tonnes by 2020

Technical textiles accounted for nearly 29% share of the global textile revenues in 2015. Demand for technical textiles is expected to remain steady during the forecast period 2015-2020, owing to a widening applications in end-use industries, such as automotive, healthcare, construction, and sports equipment. On the back of their proven benefits, global consumption of technical textiles is expected to surpass 37 million tonnes in 2020. Asia Pacific will continue to be at the forefront of global production and consumption, with China and India among the most lucrative markets.

Technical Textiles Consumption: Region-wise Analysis & Forecast

technical textiles market regions

Asia Pacific: The Largest Market for Technical Textiles

Asia Pacific will continue to be the largest market for technical textiles, with total consumption estimated at 11.4 million tonnes in 2015. The region accounted for a revenue share of over 39% in 2015. A combination of macro- and micro-economic factors are anticipated to create significant rise in demand in APEJ during the forecast period. Steady growth in the region’s industrial sector, combined with improving economic conditions are expected to play a key role in ramping up demand for technical textiles. Increasing expenditure on infrastructure development, healthcare upgrades, and urbanisation are expected to contribute to increasing demand for technical textiles.

China, India, and Japan are the three largest markets for technical textiles in Asia Pacific. Collectively, technical textile consumption in these three countries was estimated at over 10 million tonnes in 2015. Availability of affordable labour, strong domestic demand, and robust exports are expected to fuel demand for technical textiles in these countries. Hometech – technical textiles used in household applications – will witness the highest demand, representing a market opportunity worth US$ 23 billion in 2020. Clothtech and Packtech will remain the other highest-selling technical textiles in Asia Pacific throughout the forecast period.

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North America Technical Textiles Market will Surpass US$ 38 Bn by 2020

Demand for technical textiles in North America, the second-largest market for technical textiles, will rely on strong adoption in spacecraft, aviation, railways, and automobiles. Mobiltech – technical textiles used for these applications – will continue to remain the highest-selling technical textiles. Unlike the market in Asia Pacific, the technical textiles market in North America will continue to remain technology-oriented, with investment in R&D expected to grow during the forecast period. Leading players in the North America technical textiles market are expected to focus on developing next-generation technical textiles to meet the ever-evolving demands of end-users.

U.S. will continue to dominate demand for technical textiles in North America, with Canada accounting for a miniscule percentage of overall revenues. Of the nearly US$ 40 Bn worth of technical textiles sold in North America in 2015, the U.S. accounted for a whopping 85% revenue share. The status quo is projected to remain unchanged during the forecast period although Canada’s domestic industry can push up demand significantly.

Western Europe Technical Textiles Market Led by EU5

Demand for technical textiles in Western Europe will be led by EU5 countries – Germany, France, United Kingdom, Italy, and Spain. As is the case in the U.S., Mobiltech will remain the highest-selling technical textile segment, representing US$ 10 Bn in revenues in 2015. Germany will continue to be the largest market for technical textiles in Western Europe on the back of country’s strong industrial and automotive sector.

Top 3 Highest-selling Technical Textiles: Hometech, Buildtech, and Meditech

Hometech, Buildtech, and Meditech are the three highest-selling technical textiles globally. Resurgence in housing sector, steady infrastructure development, and demand for highly functional textiles for use in healthcare sector are fuelling demand for these technical textiles segments. Demand for these three technical textile types will remain strong throughout the forecast period. However, Oekotech, Geotech, and Sportech will be the fastest growing segments in terms of revenues.

Oekotech - technical textiles used in environmental protection and waste disposal – are anticipated to grow at the fastest compound annual growth rate (CAGR) in terms of revenues. Increasing emphasis on sustainable development and consumer awareness on reducing carbon footprint are influencing both government and private entities to opt for Oekotech.

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technical textiles type

Demand for Geotech technical textiles - textiles used in civil engineering and geotechnical applications - is projected to witness 6% CAGR in terms of revenues through 2020. Sportech - technical textiles used in sports and leisure sector – are also anticipated to witness steady demand owing to growing demand for sports equipment, especially among the millennial segment.

Future Market Insights’ report on the global technical textiles market offers key insights on the product and business strategy of leading technical textile companies. The companies profiled in the report include Ahlstrom Corporation, DuPont Chemicals Company, Polymer Group Inc., Freudenberg & Co. KG, and TWE Group.

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This release was published on openPR.