According to the latest market research study released by Technavio, the global technical textiles market is expected to grow at a CAGR of more than 4% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global technical textiles market based on category type:
Global technical textiles market share by category type 2015
|
Mobiltech |
22.63% |
|
Indutech |
17.51% |
|
Sporttech |
14.46% |
|
Buildtech |
7.51% |
|
Hometech |
6.60% |
|
Clothtech |
6.51% |
|
Meditech |
6.39% |
|
Agrotech |
5.92% |
|
Packtech |
5.61% |
|
Protech |
5.49% |
|
Geotech |
1.17% |
|
Oekotech |
0.20% |
Source: Technavio
The top four revenue contributing product segments are discussed below:
Global mobiltech market
The global mobiltech market was valued at around $32 billion in 2015 and is expected to grow at a CAGR of more than 5% by 2020. Mobiltech products are mainly classified into two sub-categories that include visible components like carpets, seat upholstery, seat belts, and headliners and covered components such as harness components, noise vibration, tire cords, and liners. These are commonly used in the manufacture of automotive and automotive components. The demand for this market segment is primarily driven by the growth in the automotive industry. The increasing requirement for better and faster passenger cars and commercial vehicles will drive the growth of this market segment during the forecast period.
“The increasing number of new projects and development initiatives taken to fuel the growth in the automotive industry will boost the demand for technical textiles in the market. Several OEMs are focusing on investing in emerging nations like APAC which will result in market growth. The growing need for manufacturing lightweight and fuel-efficient automobiles will help in the development of this market segment. The market will witness an increasing use of nonwovens and natural technical textile composites in automobiles and composites in aerospace applications during the forecast period,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on textile, fiber, and composites.
Global indutech market
The global indutech market was valued at almost $25 billion in 2015 and is expected to grow at a CAGR of more than 4% by 2020. Indutech products are used in the manufacturing sectors, and these products comprise of drive belts, conveyor belts, cigarette filter rods, detailing cloth, bolting cloth, ropes and cordages, composites, filtration products, and industrial brushes. These indutech products are used for filtration and cleaning purposes in various industries. This market segment is driven by the increasing demand from rapidly industrializing countries.
Global sporttech market
The global sporttech market was valued at close to $21 billion in 2015 and is expected to grow at a CAGR of over 2% by 2020. These technical textile products that are used in leisure and sports equipment segments. Some of these include sports composites, artificial turf, sports footwear parachute fabrics, ballooning fabrics, sports nets, tents, and swimwear. These textiles have varied applications in the sports and leisure industries as artificial turf used in surfaces and advanced carbon fiber composites used for fishing rods, racquet frames, golf clubs, and cycle frames. Some of the other applications include sailcloth and fabrics used in parachutes, hot air balloons, and paragliders.
Global buildtech market
The global buildtech market was valued at almost $11 billion in 2015 and is expected to grow at a CAGR of more than 4% by 2020. Buildtech has applications in building permanent and temporary structures like billboards and signage, architectural membranes, tarpaulins, awnings, and scaffolding nets. The rising requirement for architectural awnings, membranes, canopies, and high-density polyethylene tarpaulins and scaffolding nets will boost the demand for these textiles during the forecast period.
The top leading vendors operating in the global technical textiles market are:
- Ahlstrom
- Berry Plastics
- DuPont
- Kimberly-Clark
- TWE
A more detailed analysis is available in the Technavio report titled, ‘Global Technical Textiles Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Textile Machinery Market 2016-2020
- Global Nanofiber Market 2016-2020
- Textile Manufacturing Market in Bosnia and Herzegovina 2016-2020
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