AP NEWS

Worldwide Technical Textile Market Analysis & Outlook 2018-2022: Growing Demand for New Applications Areas - ResearchAndMarkets.com

July 5, 2018

DUBLIN--(BUSINESS WIRE)--Jul 5, 2018--The “Technical Textile Market by Material, by Process, by Application, and Region - Global Forecast to 2022” report has been added to ResearchAndMarkets.com’s offering.

The technical textile market is estimated at USD 165.51 Billion in 2017 and is projected to reach USD 220.37 Billion by 2022, at a CAGR of 5.89% from 2017. The technical textile market has been segmented on the basis of material, technology, application, and region.

Based on material, the synthetic polymer segment is estimated to account for the largest share in 2017, owing to factors such as high strength, low cost, and high quality. Synthetic polymers find wide application in high-tech applications such as geotextile spun bounds, surgical application products, and bulletproof body armor. With the growth in these industries, the demand for synthetic polymers will also increase.

Based on process, the woven segment of the technical textile market is estimated to account for the largest share in 2017. The ease in the process helps to produce a wide range of products for various applications. Woven technical textiles find application in automobile, construction, clothing, and other industries. Furthermore, advancements in weaving technology such as 3D weaving are also expected to drive the technical textile market during the forecast period.

Based on application, the mobiltech segment of the technical textile market is projected to grow at the highest CAGR from 2017 to 2022. This growth can be attributed to the booming automobile sector in many countries such as the UAE, Japan, and Germany. The increasing use of technical textiles in various areas of the automobile sector such as seat belts, seating upholstery, tire cords & linear, and others is expected to propel the demand for technical textiles.

Market Dynamics

Drivers

Growing Demand for New Applications Areas Increasing Adaptability and Awareness of Products

Restraints

High Cost of Finished Products Affects the Pricing Structure of the Intermediate Industry

Opportunities

Emergence of New Technologies Growing Demand From Emerging Industrial Markets Growing Importance of Geotextiles

Challenges

Cost-To-Benefit Ratio A Concern for Small Manufacturers Varying Environmental Mandates Across Regions

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Technical Textile Market, By Material

7 Technical Textile Market, By Process

8 Technical Textile Market, By Application

9 Technical Textile Market, By Region

10 Competitive Landscape

11 Company Profiles

Asahi Kasei Berry Global Group Dupont Freudenberg & Co. Huntsman International Textile Group Kimberley-Clark Koninklijke Ten Cate Lanxess Low & Bonar Milliken & Company Mitsui Chemicals SRF Limited Toyobo Co.

For more information about this report visit https://www.researchandmarkets.com/research/v53xf7/worldwide?w=4.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180705005588/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Manager

press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics:Technical Textiles

KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST

INDUSTRY KEYWORD: MANUFACTURING TEXTILES PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 07/05/2018 04:24 PM/DISC: 07/05/2018 04:24 PM

http://www.businesswire.com/news/home/20180705005588/en

AP RADIO
Update hourly