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Technical Textile Market Expected to Reach $334,938 Million by 2025

The global technical textile market was valued at $234,715 million in 2017, and is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025.

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Technical Textile Market Expected to Reach $334,938 Million by 2025

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  1. Technical Textile Market

  2. Rise in need for technical textiles across MobilTech and GeoTech end-use industries is expected to enhance the global product demand during the forecast period. In addition, increase in automotive production across the world, especially in Europe, and rise in infrastructure development projects are expected to drive the growth of the technical textile market. Moreover, favorable government regulations favoring the use of these materials is projected to propel the market growth in the near future. Get Sample Report

  3. Technical Textile Market was valued at $234,715 million in 2017, and is projected to reach $334,938 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. The composite segment accounted for a major share of the global technical textile market in 2017, in terms of revenue. Technical textiles are the materials, which are used for non-aesthetic purposes such as industrial protection, construction, and others. They find their application across various end-use industries such as construction, industrial, automotive, and others.

  4. The global demand for various technical textile products has increased continuously as a result of their expanding applications in various end-use industries. Majority of the demand for technical textile comes from end-use industries such as construction, sports, environmental protection, aerospace, automotive, protective clothing, and healthcare. The growth of the global technical textile market is majorly driven by increase in product demand from automotive, construction, and geological end-use industries. Moreover, increase in awareness of industrial safety, rise in environmental awareness, and advances in medical technology are further expected to fuel the growth of this market.

  5. Key Findings of the Technical Textile Market: • The North America technical textile market is projected to grow at a CAGR of nearly 4.7% during the forecast period, in terms of revenue. • The Europe technical textile market is anticipated to dominate the global market, in terms of revenue in the near future. • The global technical textile market for MobilTech dominated the market, with a share of over 22.76% in 2017. • The nonwoven technical textile segment is projected to dominate the global market in the years to come.

  6. Some of the major players operating in the global market include DowDuPont, Ahlstrom Corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindoostan Mills. The other players are Low & Bonar, Lanxess, and Berry Global Group. Various strategies, such as acquisition, product launch, and others, have been adopted by these key players to strengthen their foothold in the competitive market. For instance, Ahlstrom Corporation acquired Munksjo in November 2016 to expand its business in the technical textile market.

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