Global technical textile demand continues to touch historic lows, but technical textiles are showing resilience, raising hopes of a quick recovery in 2021. An updated edition of the study which also tracks the COVID-19 impact on the market offer insights on how demand will evolve during 2020-2030.
Technical textiles have been among rapid growth areas of the textile industry that are commonplace, from gym gear and sportswear to car seats and in airbags.
The global market for technical textiles, in particular, is receiving huge impetus from an unprecedented rise in demand for functional fabric for monitoring safety and operations in the industrial sector.
The textile industry is highly diversified, satiating a broad range of domains ranging from conventional handloom products to wool, cotton and silk products and contain products that stretch through natural and artificial fiber, apparel, and yarn.
Technical textiles are poised to play a vital role in transforming the textile industry, owing to their diverse applications across several end-use sectors including, infrastructure, construction, automobile, aviation, healthcare, and defense.
Technical textiles market size study
- Market to grow at healthy CAGR through 2030
- Mobiltech accounts for leading revenue share
- Governments in various regions to provide taxation incentives on import of technology, and training assistance over marketing and operations
- Rising sustainable concerns to fuel demand for technical textiles in water treatment, and erosion protection in coming years
- North America and Europe to offer lucrative growth prospects, given strong adoption of advanced technologies
COVID-19 Impact on technical textiles market
While the technical textiles market has been facing the rippling effects of the COVID-19 pandemic, the market growth is stimulated by the need to help deliver personal protective equipment (PPE) as various hard-hit countries are confronting an acute shortage of disposable PPE for front-line medical workers.
As the battle against the COVID-19 crisis persists, demand for necessary face coverings continues to soar. The opportunity to create an impact in the battle against the public-health crisis and to help in improving the safety of communities has offered a new meaning to businesses, and operations in the technical textiles market.
Case in point, Berry Global Group Inc. is delivering prominent healthcare and consumer brand firms across the world to manufacture products in large-scale to tackle the contagion of COVID-19.
In the US, the company has scaled up its capacity to provide maximum output on the ground of rising demand for healthcare products such as materials for face masks and hard surface disinfectant wipes.
Moreover, in Europe, the company is operating its meltblown lines round the clock to develop materials for face masks and other healthcare purposes including, materials leveraged in blood filtration.
“Farmworkers are turning their sight towards agro-tech products realizing limited availability of water, uncertainty in climate, and the threat to crops from getting hampered by pests and insects. Such agro-tech products are likely to enhance agricultural productivity, thus, favoring market growth over the decade ahead,” says the analyst.
Technical textiles market – competition intelligence
In a bid to maintain their competitiveness in the global landscape, leading manufacturers are entering into acquisitions of their peers.
- Vitruvian Group has acquired Ahlstrom-Munksjö’s fiber-optic reinforcement business. This acquisition is likely to boost the company’s product portfolio
- Freudenberg & Co. KG has taken over 100% shares of Low & Bonar PLC. With the latter’s innovative technology, the company is slated to further extend its technological expertise
- Besides, Freudenberg & Co. KG has acquired 100% shares of Filc, which develops laminated materials and needle punch nonwoven textiles with a focus on construction and automotive industries
These insights are based on a report Technical Textiles Market by Future Market Insights