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(Construction.IndustryNews247.Com, December 27, 2018 ) The technical textile market was valued at USD 157.68 Billion in 2016 and is projected to reach USD 220.37 Billion by 2022, at a CAGR of 5.89% from 2017. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
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Primary objective of study is to define, forecast, & segment technical textile market on basis of material, process, application, & region. Study also aims at strategically analyzing micro markets with respect to individual growth trends, future prospects, & their contribution to total market. It also provides detailed information about key market dynamics, which include drivers, restraints, opportunities, and industry-specific challenges.
The research methodology used to estimate and forecast the size of the technical textile market began with capturing data on key vendor revenues through secondary research from sources such as the Indian Technical Textile Association and others. Vendor offerings were taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall size of the technical textile market by estimating the revenue of key players.
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Asia Pacific technical textile market is projected to grow at the highest CAGR between 2017 and 2022. China dominated the Asia Pacific technical textile market in 2016 and is projected to grow at the highest CAGR during the forecast period. The demand for technical textile is expected to be fueled by rapid urbanization in emerging economies such as India and China.
The technical textile market has been segmented on the basis of material, technology, application, and region. Based on material, the synthetic polymer segment is estimated to account for the largest share in 2017, owing to factors such as high strength, low cost, and high quality. Synthetic polymers find wide application in high-tech applications such as geotextile spun bounds, surgical application products, and bulletproof body armor.
The market ecosystem includes various stakeholders involved in the supply chain of technical textile, starting from the procurement of raw materials, research & development, and manufacturing. Post this, the marketing & sales of products take place, which is possible if an efficient distribution channel is developed. Finally, end products are made available to potential consumers.
Get Discount on “Technical Textile Market by Material (Natural Fiber, Synthetic Polymer, Metal, Mineral, Regenerated Fiber), by Process (Woven, Knitted, Non-woven), by Application (Mobiltech, Indutech, Protech, Buildtech, Packtech), and Region - Global Forecast to 2022” Report at https://www.openpr.com/news/1255251/Technical-Textile-Market-to-2022-Dominated-by-DuPont-US-Kimberly-Clark-US-Asahi-Kasei-Japan-Berry-Global-Group-US-and-Mitsui-Chemicals-Japan.html .
Based on application, the mobiltech segment of the technical textile market is projected to grow at the highest CAGR from 2017 to 2022. This growth can be attributed to the booming automobile sector in many countries such as the UAE, Japan, and Germany. The increasing use of technical textiles in various areas of the automobile sector such as seat belts, seating upholstery, tire cords & linear, and others is expected to propel the demand for technical textiles.
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Source: EmailWire.Com 
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