by Technical textiles are specialized textiles that are high-performance and are utilized in diverse industrial applications such as automotive, healthcare, construction and other industrial sectors. They comprise textiles made for specialized applications as their properties cannot be provided by general textiles. Some examples of technical textiles include textiles used for healthcare and medical purposes including surgical dressings, fabrics used in prosthetic and orthopedic applications, textiles used for wound care management and hygiene industry such as baby diapers and adult incontinence products, clothing used for special protection or workwear and health and safety textiles among others. The global technical textile market is experiencing significant growth owing to increasing demand from healthcare applications. Technical textiles are extensively used in healthcare including hygiene applications and modern medical practices such as implants and artificial organs. Certain advanced textile technologies enable development of lighter and stronger healthcare textiles.
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 from healthcare sector: The increasing application of technical textiles in healthcare and hygiene industry is expected to drive the market growth over the forecast period. Healthcare sector is the largest end-use application segment of technical textiles accounting for over 30% of total market share. Technical textiles are widely utilized in healthcare industry owing to advantages such as enhanced patient care, improved hygiene, and better performance. Their increasing usage in applications such as surgical dressings, prosthetics, implants, and adult incontinence products is estimated to boost the demand.
Focus on development of advanced fabrics: Material scientists and textile engineers globally are investing resources to develop new generations of advanced fabrics with enhanced properties and functionalities. Companies are developing smart textiles that can monitor health indicators, deliver drugs or even assist with micro-surgeries. Technological advancements in fabric engineering coupled with growing healthcare sector present lucrative growth opportunities for technical textiles market over the coming years.
Segment Analysis
The technical textile market can be segmented into agrotech, buildtech, clothtech, geotech, hometech, indutech, meditech, mobiltech, packtech, protontech, and oekotech. The buildtech segment dominates the market and accounts for over 30% share, as technical textiles are increasingly being used in construction applications like soil work, roads, and home furnishings. Technical textiles provide durability, longevity, and strength which makes them suitable for construction materials.
PEST Analysis
Political: Governments across regions are supporting the use of technical textiles as it enhances sustainability. Subsidies and funding are promoted for technical textile adoption.
Economic: The growing construction and infrastructure industries coupled with rising disposable incomes are driving demand for technical textiles. Developed markets currently dominate spendings.
Social: Sustainable and eco-friendly attributes of technical textiles are gaining acceptance. Their use extends product life and reduces environmental footprint.
Technological: Advancements in material engineering are expanding application areas for technical textiles. Smart textiles integrated with electronics are gaining focus.
Key Takeaways
The Global Technical Textile Market Size is expected to witness high growth over the forecast period supported by increasing construction activities and industrialization across regions. 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.
Regional analysis:
The Asia Pacific region accounts for over 40% share of the technical textile market led by China, India, Indonesia, and other Southeast Asian countries. Rapid urbanization and the “One Belt, One Road” initiative in the region are driving extensive construction of roads, buildings, and smart cities thereby spurring demand for technical textiles.
Key players:
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
