Technical textiles market to reach $160bn by 2018

Innovations and product development, enhanced product properties such as strength and durability, growth and advancement of the global automotive industry are some of the major factors that drive the market for technical textiles. However, higher cost of finished products affecting end-user industry pricing characteristics and fragmentation of the existing market are some of the major drawbacks faced by the market.

Thermoforming, three dimensional weaving and three dimensional knitting were the most widely used technologies, accounting for over 60% of the total market in 2011. Demand for technical textiles manufactured through thermoforming technology is expected to reach 3,915 kilo tons in 2018, growing at a CAGR of 3.8% from 2012 to 2018, owing to their wide application scope and superior performance.

Based on the end-user industry where technical textiles are used, the market is segmented into eleven categories including Mobiltech, Indutech, Sportech, Buildtech, Hometech, Clothtech, Meditech, Agrotech, Protech, Packtech and others. These categories cover the entire range of technical textiles that are manufactured currently and are expected to see increasing demand with constantly improving technology and products. Consumption of technical textiles varies with end-user industries in different regions of the world.

Asia Pacific dominated the global technical textiles market and accounted for 45% of the total market in 2011. By 2018, Asia Pacific is expected to generate revenues of about USD 61.26 billion. With better technology capabilities, ever increasing demand from various end-user industries and a favorable support structure from various governments, technical textiles are expected to have a huge market to cater to globally with Asia Pacific clearly the leader.

The key players in the technical textiles market are Freudenberg & Co. KG, DuPont, Kimberly- Clark Corporation, Ahlstrom Corporation, Fiberweb PLC, Polymer Group Inc., Companhia Providência, Johns Manville and the TWE Group, among others.

Transparency Market Research