Research and Markets: global technical textile market +4.5%/year

Research and Markets: global technical textile market +4.5%/year

The global technical textile market was valued at $234.7 billion in 2017, and is projected to reach $335 billion by 2025, growing at a CAGR of 4.5% from 2018 to 2025. A technical textile is a type of material, which is developed to meet the specified high-performance needs of a particular application. In addition to their aesthetic characteristics, technical textile products and materials possess enhanced mechanical, electrical, durable, thermal, and functional properties which makes them usable in various end-use industries such as automotive, construction, industrial, medical and others.
The growth of the global technical textile market is driven by increase in production of automobiles, rise in construction activities, and upsurge in demand from the healthcare sector. Moreover, the market is expected to experience considerable growth with government legislations mandating the use of geosynthetic textiles in various infrastructure development projects. In addition, in the emerging economies, majority of the consumption of the technical textiles will be through imports, while some countries have their own production facilities.
The report “Technical Textile Market, by Type, Material Type, and End-use Application: Global Opportunity Analysis and Industry Forecast, 2018-2025” published by Research and Markets, Dublin/Ireland, in November 2018 provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global technical textile market from 2017 to 2025 to determine the prevailing opportunities.

 

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