Rise in demand for geotextile from developing nations and preference for non-woven technical fabrics propel the growth of the global technical textile market.
OREGON, PORTLAND, UNITED STATES, September 21, 2021 /EINPresswire.com/ — The global technical textile market garnered $201.2 billion in 2019, and is expected to reach $274.1 billion by 2027, witnessing a CAGR of 5.1% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, key investment pockets, key segments, Porter’s Five Forces, and competitive scenario.
Rise in demand for geotextile from developing nations and preference for non-woven technical fabrics propel the growth of the global technical textile market. However, toxic waste production in high quantities hinders the market growth. On the other hand, innovative methods for recycling of textiles create new opportunities in the coming years.
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• The supply chain has been disrupted due to lockdown during the Covid-19 pandemic. This has presented roadblocks to raw material procurement for the chemical industry.
• The demand for masks and other textiles as a protective equipment has been increased significantly, which also increased demand for technical textiles.
• The demand from the automotive industry has been lowered drastically due to closure of production activities. Moreover, the demand will increase as some of the manufacturing facilities have been started.
The report provides a detailed segmentation of the global technical textile market based on material, process, application, and region.
Based on material, the synthetic polymer contributed to more than half of the total share of the global technical textile market in 2019, and is estimated to maintain its dominance by 2027. On the other hand, the natural fiber segment is estimated to portray the highest CAGR of 5.9% throughout the forecast period.
Based on process, the woven segment accounted for more than two-thirds of total share of the market in 2019, and is expected to maintain its leadership status during the forecast period. However, the non-woven segment is expected to register the highest CAGR of 5.7% from 2020 to 2027.
Based on region, Asia-Pacific accounted for the largest share in 2019, contributing to more than one-third of the total share of the market, and will maintain its lead position during the forecast period. Moreover, this region is estimated to witness the highest CAGR of 5.9% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global technical textile market analyzed in the research include Asahi Kasei Corporation, Baltex, Ahlstrom Munksjö, Berkshire Hathaway Inc., Berry Global, Inc., Duvaltex, Freudenberg & Co. KG, GSE Environmental, Dupont De Nemours, Inc. (Dupont), Kama Holdings Limited, HUESKER Synthetic GmbH, Milliken & Company, KONINKLIJKE TEN CATE BV, Mitsui Chemicals, Inc., and SKAPS Industries.
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Source: EIN Presswire