Emergence of e-textiles, rapid innovation, and government support programmes to boost manufacturing of textile chemicals are the key trends in the global technical textile chemicals market. Future Market Insights (FMI), in its new market research report, “Textile Chemicals Market: Global Industry Analysis and Opportunity Assessment 2015-2020”, provides insights about the global technical textile market.
Technical textiles are used in a wide array of end-use industries. On the basis of application, FMI has segmented the global textile chemicals market into,
Among these, Indutech, Packtech, and Mobiltech segments are projected to account for the bulk of the demand for technical textiles during the forecast period.
Strong demand from small and medium enterprises (SMEs) in Asia Pacific, especially China and India, is anticipated to fuel the Indutech segment. Increasing manufacturing activities in North America and Middle East are also expected to drive the demand for industrial textiles during the forecast period. The market value of Indutech segment, estimated at US$ 20.7 Bn in 2014, is projected to reach US$ 28.4 Bn by 2020.
Browse Full: “Technical Textile Market: Global Industry Analysis and Opportunity Assessment 2015-2020”Market Research Report at
The Packtech segment is anticipated to lose its market share during the forecast period, owing to saturation in the packaging application. According to FMI, the global technical textile will expand at a CAGR of 2.2% to reach US$ 24.3 Bn.
Sustained growth in the automobile sectors, especially in emerging economies of Brazil, Russia, India, and China (BRIC) is anticipated to provide growth opportunities for Mobiltech segment. Mobiltech is emerging as an appealing alternative for the automotive industry owing to its properties, such as lightweight and flexibility.
Asia Pacific is the most lucrative region in the global technical textiles market. The market, valued at US$ 61.2 Bn, is anticipated to expand at a CAGR of 4.7% during the period 2015-2020 and reach a valuation of US$ 86.5 Bn.
According to FMI, the key factors anticipated to fuel the growth of technical textiles market in Asia Pacific include growing automobile production and increasing number of manufacturing industries in China, and renewed focus on public infrastructure development in India.
China is the most lucrative region for technical textiles, not only in Asia Pacific but also globally. The China technical textile market was valued at US$ 30.7 Bn in 2014, and FMI expects it to expand at a CAGR of 7.7% to reach a valuation of US$ 48.1 Bn by 2020. On the other hand, the technical textile market in India is forecasted to expand at a CAGR of 9.9% through 2020 and reach a valuation of US$ 18.8 Bn by 2020.
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The key stakeholders in the technical textile market include Low & Bonar PLC, Ahlstrom Group, E. I. du Pont de Nemours and Company (DuPont), 3M Company, and Polymer Group Inc.
The key product segments of Low & Bonar Group include 3D-matting, composites, construction fibres, geogrids, and vegetation mats, and systems. Headquartered in London, U.K., Low and Bonar Group announced plans to build new manufacturing facility in Changzhou, Shanghai, China. According to FMI’s analysis, Europe accounted for nearly 67% revenue for the company in 2014.
Helsinki-based Ahlstrom Group’s key product segments include air filtration, nonwoven food packaging, glass fibre reinforcement, glass fibre tissue, and liquid filtration. Like Low & Bonar Group, Europe is the most profitable region for Ahlstrom Group, accounting for nearly 48% of revenue in 2014.
Minnesota-based 3M recently announced plans to acquire Capital Safety Co., a U.S.-based manufacturer of harness and lanyards. The U.S. and Asia Pacific are the most lucrative regions for 3M, accounting for a combine revenue share of 67% in 2014.
Press Release: http://www.futuremarketinsights.com/press-release/global-technical-textiles-market