Expansion of Technical Textiles Market Projected to be Supported by Significant Investment | Future Market Insights
Future Market Insights has announced the addition of the “2020 Analysis and Review: Technical Textiles Market by Application – Mobiltech, Agrotech, Buildtech, Hometech, Indutech, Sportech et al for 2020-2030″ report to their offering.
Dubai, United Arab Emirates – February 18, 2021 /MarketersMedia/ —
The technical textiles market is anticipated to display a healthy growth rate during the assessing period between the years 2020 and 2030. The covid-19 pandemic has moderately affected the global technical textiles industry. Major production disruptions, owing to lockdown restrictions, coupled with the major slump in industrial and construction activity hinders short term market growth.
“Growth in the demand for technical construction textiles, in addition to favorable investments and initiatives by governments to promote technical textile applications are fueling the demand throughout the projection period,” says the FMI report.
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Technical Textiles – Primary Takeaways
Nanomaterial and nanofiber production processes are rapidly gaining ground in technical textile applications owing to antibacterial, and chemical resistance characteristics.
Agro-textiles are finding growing roles in revenue generation, with solar-radiation, and weather resistant applications.
Europe is likely to display impressive growth as a technical textile market supported by major investments in healthcare and fashion applications.
Technical Textiles – Growth Factors
Wide scope of application for technical textiles including packaging, agriculture, aerospace, and construction sectors help to sustain long-term growth.
Improvements in terms of recyclability of technical textiles bolster overall adoption rates.
Technical Textiles – Major Constraints
High processing and production costs for technical textile remains a major challenge for manufacturers.
Cost and expertise required for operating in the technical textiles market is a major hinderance, for small and medium enterprises.
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The Projected Impact of Coronavirus
The technical textile industry has been moderately impacted during the coronavirus pandemic. Lockdown restrictions on construction and industrial activities have reduced demand for technical textiles sharply. In addition, nationwide lockdowns have restricted supplies and production of technical textiles as well. On the other hand, extensive requirement for specialized technical textiles for healthcare PPE production during the pandemic has generated critical growth opportunities to recoup some of the losses sustained during this period.
Competition Landscape
The technical textiles market comprises players including but not limited to Freudenberg & Co. KG, Low and Boar plc, Baltex, Ahlstrom Corp., Dickson-Constant, E.I. du Pont de Nemours and Company, Miliken and Co., Avintiv, and 3M Company.
Players operating in the technical textiles market are leveraging government initiatives and are pushing for product development particularly in the medical sector following the coronavirus outbreak.
For instance, Hygienics Industry Inc. has unveiled Fabrapel two-layer, technical textile for facial mask applications. Similarly, Loyal Textile Mills has launched technical textile with anti-viral technology for reusable PPE applications. Also, Duvaltex has released a complete range of level 1 and 2 anti-microbial textile gowns for patients and healthcare professionals in the U.S.
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More About the Study
The FMI study provides detailed insights on technical textiles. The market is broken down in terms of application (agro-tech, buildtech, hometech, indutech, sportech, packtech, mobiltech, meditech, clothtech, Geotech, protech, and oekotech), and process type (nonwoven, composite, and others), across six key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and MEA).
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Contact Info:
Name: Abhishek Budholiya
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Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/technical-textiles-market
Source: MarketersMedia
Release ID: 88997938
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