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Technical Textile Market size was over USD 194.67 billion in 2023 and is anticipated to cross USD 420.34 billion by 2036, growing at more than 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of technical textile is estimated at USD 204.17 billion.
The global technical textile market is expected to witness a robust growth owing to the rising demand from end user industries for use as insulating products, rubber, floor covering, protective gear, and others. Moreover, factors such as the upsurge in demand for geotextile from developing economies, rise in demand for construction textiles, and increase in government initiatives to promote the use of technical textiles are expected to support the development of the market.
Growth Drivers
Rise in Government Initiative to Promote Technical Textiles
Various government and non-government initiatives are taken to promote the use of technical textiles to facilitate higher integration of technology into manufacturing processes and end-products. Different types of apparels made of technical textiles help manufacturers of different end user industries to keep their workforce safe in the factories, as the technical textiles are known to possess several beneficial characteristics over conventional textiles, that make them applicable for use in adverse environment conditions. Growing need for safety of workforce in the manufacturing industries, on the back of the growing concerns for the incidences occurred in workplaces, along with the stringent norms of the governments of nations globally to maintain strict workwear and uniforms code are anticipated to drive the growth of the global technical textile market.
Challenges
High Cost of Raw Material
The high cost of raw materials, which also impacts the price of finished goods, and therefore low profitability for the manufacturer of technical textiles, along with factors such as the increase in toxic waste generation during the production of these materials are anticipated to hinder the growth of the market over the forecast period.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.1% |
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Base Year Market Size (2023) |
USD 194.67 billion |
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Forecast Year Market Size (2036) |
USD 420.34 billion |
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Regional Scope |
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The technical textile market is segmented by material, process and by application. The application segment is further segmented into mobiltech, indutech, protech, buildtech, and packtech out of which, the mobiltech segment is anticipated to hold the leading shares in the global technical textile market owing to the increase in product consumption in the automotive sector coupled with a remarkable rise in demand for cars with high-end aspects. On the contrary, the composite segment of the material sector is anticipated to hold the largest share of the market on account of developments in the marine industry to facilitate the demand for glass fibers and a rise in demand for reinforced composites in the industrial & construction sectors. Additionally, the woven segment of the process sector is expected to witness modest growth owing to its convenience in automobile, construction, clothing, and other industries.
Our in-depth analysis of the global market includes the following segments
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By Material |
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By Process |
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By Application
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On the basis of regional analysis, the global technical textile market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Asia Pacific industry is set to account for largest revenue share by 2036, owing to growing demand for apparel and functional clothing coupled with the expansion of residential, commercial, and industrial sectors, on account of sustainable economic growth. The European market is projected to witness rapid growth over the forecast period owing to the upsurge in the adoption of technical textiles in the medical, industrial, home textiles, and automotive sectors.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
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