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Functional Textiles Market to Witness Growth Acceleration by 2024
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The functional textiles market is primarily driven by the increasing demand from applications such as sportswear (cycling, ski sports, swimming). The spontaneous technological developments in textile and apparel industry plus the increasing customer expectations aids in driving the global functional textile market.
However, functional textiles are quite expensive which are in the premium class of textiles, marks attention towards selective buyers. Thus, the cost structure might restrain the momentum of the global functional textile market.
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The global functional textile market is geographically divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Europe holds a maximum share of functional textile market in terms of production. The fact is due to the the vast growth of textile and apparel industry in Germany, France, Italy, UK and also the high- tech developments. Also, North America holds a healthy market in terms of production for functional textile comparative to Europe. Asia Pacific and MEA offers extensive opportunity for functional textile market. Malaysia, Taiwan, South Korea, Japan and Turkey are anticipated to be the promising market for functional textile market growth prospectus.
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Some of the key players in the global functional textiles market are Dyntex GmbH, Trevira GmbH, Eclat Textile Corporation Ltd., Harvest SPF Textile Company Ltd., Toung Loong Textile MFG, Sofileta, Kelheim Fibres GmbH
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.
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