Technical Textiles Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The technical textiles refer to engineered products with a definite functionality. Technical textiles are the type of semi-finished or finished textiles or fabric designed especially for the non-decorated purpose. Technical textiles are manufactured using non-woven or woven natural as well as synthetic fibers, which are used due to their excellent technical and functional properties.

Sizing and Forecast
The technical textiles market size has grown strongly in recent years. It will grow from <b>$222.38 billion in 2023 to $239.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. </b> The growth in the historic period can be attributed to infrastructure development, environmental awareness, industrial growth, safety and protection regulations, military and defense needs, .

The technical textiles market size is expected to see strong growth in the next few years. It will grow to <b>$327.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. </b> The growth in the forecast period can be attributed to sustainability and eco-friendly materials, infrastructure modernization, aerospace and defense applications, circular economy practices, advancements in smart textiles.. Major trends in the forecast period include nanotechnology in textiles, use of 3d printing technology, biodegradable technical textiles, digital printing, robotic textile manufacturing ..

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Segmentation & Regional Insights
The technical textiles market covered in this report is segmented –

1) By Material: Natural Fiber, Synthetic Polymer, Regenerated Fiber, Mineral, Metal
2) By Process: Woven, Knitted, Non-woven
3) By Application: Transport Textiles, Medical And Hygiene Textiles, Industrial Products And Components, Agriculture, Horticulture, And Fishing, Home Textiles, Clothing Components, Packaging And Containment

<b>Asia-Pacific</b> was the largest region in the technical textiles market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the technical textiles market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing demand for technical textiles from end-users is expected to drive the demand in the forecast period. The increase in demand for medical apparel and raising awareness of hygiene products are driving the market. Increasing military expenditure and a rise in local extremist insurgencies and casualties will boost the demand for protective ballistic armors, thus increasing the demand for technical textiles globally. For instance, according to Nikkei Asia, a Japan-based largest financial newspaper, the Australia’s government proposed a defense budget for fiscal 2023 (July 2023 to June 2024), of 42.9 billion Australian dollars ($29 billion), or 6.3% of its total public spending for the year, up from the 5.9% share estimated in October last year . Hence, the increasing demand from various end-use industries is expected to significantly contribute to the growth of the technical textiles market.

Key Industry Players
Major companies operating in the technical textiles market include <b> Asahi Kasei Kimberly-Clark Corporation, Berry Global Group Inc., DuPont de Nemours Inc., Mitsui Chemicals Inc., Freudenberg & Co KG, Low & Bonar Group plc., Huntsman Corporation., Toyobo Co Ltd., Milliken & Company, SRF Limited, International Textile Group Inc., Koninklijke Ten Cate B.V., 3M Company, Ahlstrom-Munksjö Oyj, Johnson & Johnson, The Procter & Gamble Company, SKAPS Industries, Baltex, Johns Manville Corporation, Companhia Providência Indústria e Comércio, Fiberweb PLC, Strata Geosystems Pvt. Ltd., The TWE Group GmbH, Lanxess AG, Ibena Textilewerke GmbH, Officine Maccaferri S.p.A., Duvaltex Inc., Hindoostan Mills Company Limited, GSE Environmental Inc., Polymer Group Inc. </b>

The technical textiles market report table of contents includes:

1. Executive Summary

2. Technical Textiles Market Characteristics

3. Technical Textiles Market Trends And Strategies

4. Technical Textiles Market – Macro Economic Scenario

5. Global Technical Textiles Market Size and Growth

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31. Global Technical Textiles Market Competitive Benchmarking

32. Global Technical Textiles Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Technical Textiles Market

34. Technical Textiles Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Asahi Kasei Kimberly-Clark

DuPont de Nemours Inc

Mitsui Chemicals Inc

Freudenberg & Co KG

Low & Bonar Group plc

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