DUBLIN, March 2, 2023 /PRNewswire/ -- The "Technical Textiles: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Technical Textiles Market to Reach $276.8 Billion by 2030
The global market for Technical Textiles estimated at US$189.2 Billion in the year 2022, is projected to reach a revised size of US$276.8 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
Woven, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$109.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Non-Woven segment is readjusted to a revised 5.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $47.5 Billion, While China is Forecast to Grow at 6.7% CAGR
The Technical Textiles market in the U.S. is estimated at US$47.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$58.9 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$44.8 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Technical Textiles
- Technical Textiles: Current Market Scenario and Outlook
- Technical Textiles Emerge as a Major Segment within the Global Textile Industry
- Ever Evolving Production Technologies Enhance Technical Textiles' Clout
- A Brief Note on Technical Textiles Production Processes
- While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Hot Spots for Market Growth
- Competitive Scenario
- Technical Textiles: A Fragmented Marketplace
- Vendors Focus on Partnerships, Collaborations and M&A to Gain Competitive Edge
- Recent Market Activity
- Technical Textiles - Global Key Competitors Percentage Market Share in 2022 (E)
MARKET TRENDS & DRIVERS
- Growing Use Case Across End-Use Sectors Accelerates Market Expansion
- New & Emerging Applications Bolster Market Prospects
- Select Applications of Technical Textiles by End-Use Sector
- Mobile Textiles: Major Segment
- Ultralight Mobile Textiles Make a Cut
- Increasing Automotive Production Augurs Well
- A Glance at Primary Applications of Mobile Textiles in Automotive Vehicles
- Rising Demand for Building Textiles Underpins Market Expansion
- Geotextiles Step In to Enhance Overall Market for Building Textiles
- Road Construction, Erosion Control, and Drainage: Primary Applications
- Visible Shift towards Spunbonds
- Spunbond CAPEX Continues to Grow
- Growing Emphasis on R&D
- Uptrend in Construction Industry Augurs Well
- Resolving Prevailing Challenges: Critical for Future Success
- Medical Textiles Emerges as Rapidly Growing Market Niche
- A Glance at Key Applications of Medical Textiles
- Innovations Spur Demand
- Soaring Opportunities for Technical Textiles in Industrial Sector
- Sports Textiles: Niche Segment
- Technical Textiles Make their Way into Residential Environments
- Clothing Textiles Make a Cut
- Agro Textiles Set to Expand Footprint and Addressable Market
- A Look into Key Applications of Agro Textiles
- Packaging Textiles Gain Traction
- Cosmetic Textiles Seek Opportunities
- Intensified Demand for Nonwovens Revs Up Overall Sales
- Expanding Applications for Technical Textile Composites
- Nanotechnology Comes to Fore to Augment Technical Textile Landscape
- Organic Materials Extend Effective Alternative to Petroleum-derived Feedstock
- Focus on Environmental Conservation & Sustainability Widens Use Case
- Technology Innovations to Spearhead Growth
- Technical Textiles Market to Gain from Prevailing Socio-Economic & Demographic Trends
- Stable Economy
- Growing Population & Urban Sprawl
FOCUS ON SELECT PLAYERS (Total 159 Featured)
-
3M Company (USA)
- Agru America, Inc. (USA)
- Ahlstrom-Munksjo Oyj (Sweden)
- Asahi Kasei Corporation (Japan)
- Belton Industries, Inc. (USA)
- Berry Global Group (USA)
- Borgers SE & Co. KGaA (Germany)
- Delfingen Industry S.A (France)
- DuPont de Nemours, Inc. (USA)
- DSM Dyneema BV (Netherlands)
- Elevate Textiles, Inc. (USA)
- Fibertex Nonwovens A/S (Denmark)
- Freudenberg SE (Germany)
- Global Synthetics Pty. Ltd. (Australia)
- Hanes Geo Components (USA)
- Hindoostan Mills Ltd. (India)
- Huesker Synthetic GmbH (Germany)
- Johns Manville (USA)
- Kimberly-Clark Corporation (USA)
- Lenzing Plastics GmbH & Co KG (Austria)
- Low & Bonar PLC (UK)
- Milliken & Company (USA)
- NAUE GmbH & Co. KG (Germany)
- Officine Maccaferri S.p.A. (Italy)
- Propex Operating Company LLC (USA)
-
Royal Ten Cate (Netherlands)
- SGL Carbon (Germany)
- SKAPS Industries (USA)
- Solmax (Canada)
- SRF Limited (India)
- Strata Systems, Inc. (USA)
- Techfab India (India)
- Teijin Limited (Japan)
- Thrace Group (Greece)
- TWE Group GmbH (Germany)
For more information about this report visit https://www.researchandmarkets.com/r/xx5de3
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