Technical Textiles Market Anticipates Upward Growth Trend Owing to the Demand from End User Industries
The latest report by DecisionDatabases.com studies the worldwide technical textiles market and provides insightful analytical information about the historical, current and future market trends. The report titled “Global Technical Textiles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021” studies the major companies of the market and gives the complete competitive landscape of the technical textiles industry.
Technical textiles are advance quality high-performance textile products, which have unique functionalities. The technical textiles market is trending in the growth curve owing to the demand from various end-user industries including agriculture, construction, packaging, clothing, sports, health care, environmental protection, transportation and protective wear. Emerging fabric and textiles industry has also driven the technical textiles market with a positive growth.
The technical textiles industry is a research-oriented, knowledge based industry and is expected to grow continuously in the near future owing to possession of various benefits such as cost effectiveness, high strength, versatility, durability, customization, user friendliness , and its eco-friendly nature. In addition, logistical convenience in various end-use industries including aerospace, agriculture, shipping, defense, sports, construction and health care has a positive impact on the industry growth for technical textiles. The Advent of advance technologies such as fabric finish, knitting, nonwovens, spinning and weaving has also given a solid platform for the market growth and is projected to create a significant potential demand over the forecast period.
The technical textiles market is acknowledged to be a highly attractive market across the globe. It is one of the major technology-intensive global markets and is considered to be one of the leading industrial platforms for many businesses. Innovation plays a major role in shaping the performance of the global market. Surging demand from the automotive market along with excellent properties of the product has boosted the market demand. Technical textiles are becoming a main alternative to regular textiles, which in turn will also drive the market growth in the near future. However, high cost of finished products and huge fragmentation of the market are major restraints and may hinder market growth in the near future. Growing popularity of technical textiles is expected to overcome the issue and is anticipated to create a lucrative market over the coming years.
North America and Europe are the major consumers and manufacturers of technical textiles and are expected to grow at a sluggish rate in the near future owing to the market saturation in these regions. Asia Pacific is the fastest growing market and is projected to grow at a substantial rate over the forecast period on account of rising population along with the technological and industrial developments in the emerging economies.
The industry growth of technical textiles will also lead to a rise in the need for highly skilled workers for both R&D and production. This will open new avenues for tremendous employment opportunities, which in turn will serve the interest of the governments. Major industry players include Southwest Nano Technologies Inc., Alexium International, Polymer Group Inc., Andritz Perfojet SAS, Precot Meridian, and Procter and Gamble.
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