by Technical textiles are textile materials and products manufactured primarily for their technical performance and functional properties rather than their aesthetic or decorative characteristics. They include textiles for automotive applications, medical textiles (e.g., implants, hygiene products, and medical clothing), geotextiles (reinforcement of embankments), agrotextiles (textile coverings for agriculture), buildings (heat protective clothing), and packaging. Technical textiles are increasingly being used in the healthcare sector in applications such as woven sutures, artificial ligaments and tendons, artificial skin or dressings and medical textiles. For instance, artificial skin finds applications in burn dressing and has properties similar to human skin.
The global technical textile market is estimated to be valued at US$ 4575.47 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand in healthcare sector: Technical textiles are increasingly being used in healthcare applications such as surgical and hygiene products. The growing demand from wound care products, implantable devices, prosthetics, and hernia repair meshes is expected to drive the demand for technical textiles over the forecast period. For instance, wound care products such as fiber dressings are widely used for treating injuries, burns, and infections as they provide an ideal environment for healing and minimize the risk of infection.
Increased usage of smart textiles: Emergence of advanced textiles such as smart textiles integrated with electronics and computers is expected to create new opportunities. Smart textiles are textiles that have been engineered to incorporate advanced functionality such as sensors and electronics. Increased usage of smart textiles in applications such as protective clothing, health monitoring, and military is expected to drive the technical textile market growth over the forecast period.
Segment Analysis
The technical textile market can be segmented into woven fabrics, non-woven fabric, knitted fabrics, others. Non-woven fabric dominates the market and accounts for over 35% share of the technical textile market. Non-woven fabrics find wide applications in medical & hygiene, household furnishing, construction, and others due to their properties such as resistance to abrasion and corrosion, high breathability, absorption, and durability and hence are highly used across industries.
PEST Analysis
Political: The governments across the globe are supporting the technical textile industry through various subsidies and regulations to promote the use of technical textiles. For instance, the Ministry of Textiles in India provides assistance through Technology Upgradation Fund Scheme.
Economic: The growing industries such as construction, automobile and medical are driving the demand for technical textiles. Further, the increasing disposable incomes are also propelling the growth of the market.
Social: The rising health and hygiene awareness among consumers has accelerated the demand for technical textiles in applications such as healthcare, personal care, and sports wear. Further, the increasing lifestyle diseases have augmented the use of technical textiles in healthcare.
Technological: Companies are investing in R&D to develop advanced fabrics with improved properties. For instance, nanotechnology is being used to impart properties such as self-cleaning, anti-microbial to textiles. Further, bio-based technical textiles developed from sustainable sources are gaining traction.
Key Takeaways
The Global Technical Textile Market Growth is expected to witness high over the forecast period. The global technical textile market is estimated to be valued at US$ 4575.47 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
The Asia Pacific region dominates the technical textile market and accounted for over 40% share of the global market in 2023. China, India, Japan, Indonesia, and South Korea are the fastest growing countries in the region owing to the expanding manufacturing and construction sectors.
Key players operating in the technical textile market are Canary Whistleblowing System, Convercent, EQS Group AG, Ethicontrol, OU, Expolink Europe Ltd, GlobaLeaks, Got Ethics A/S., NAVEX Global, Inc., OneTrust, LLC, Safecall Ltd, Whispli Inc., WhistleB solution, WhistleBlower Security, Your Call, and EasyWhistle. Key players are focusing on new product launches, partnerships, and expansions to strengthen their market position. For instance, in 2022, Convercent partnered with Anthropic to embed AI into its platform to autonomously detect and analyze risks.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
