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Market Summary The global technical textile market was valued at USD 188.8 billion in 2021 and it is predicted to reach USD 272.3 billion by 2030, rising at a compound annual growth rate (CAGR) of 4.7 % from 2022 to 2030.

Technical textiles are the textile materials and products manufactured for their technical performance rather than their aesthetic or decorative purpose. The market for technical textiles is growing, owing to its various advantages of it, such as cost-effectiveness, lightweight, high strength, durability, and customization. The fibers like glass fiber, viscose fiber, protein fiber, Metal fiber, Polyster, and Nylon are used in the production of technical textiles.

The awareness about the technical textile is growing, and several advantages of technical textile such as cost-effectiveness is further pushing the demand for it. Cost-effectiveness is the major factor along with its better qualitative advantages like durability, and high strength behind the growth of the technical textile market. Consumer preference around the world is to get better quality and functional textile products at a lesser cost, to reduce operating costs and increase their profits. This has led to the adoption of technical textiles in several industries manufacturing textile products.

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SEGMENT OUTLOOK: By Manufacturing: The 3D weaving manufacturing technology is leading the market with the largest revenue share in 2021, and it is expected to grow at a higher CAGR from 2022 to 2030. The higher share is linked to the demand for 3D weaving technology in the products of automotive, construction, and marine sectors. The growth in these sectors will also push the demand for 3D weaving technology and resulting in greater demand for technical textiles.

By Application: The home-tech segment is leading the market with the largest revenue share in 2021, and it is expected to grow further at a higher CAGR from 2022 to 2030. The growing demand for household products like furniture covers, cushioning materials, fireproofing, and others are expected to drive the market over the forecast period. The indutech segment which is the branch of technical textile that deals with textiles used in diverse industrial applications are also growing at a higher rate.

By Material: The material segment is further categorized into the synthetic polymer, and natural fibres. The synthetic polymer segment is leading the market with the largest revenue share in 2021, and it is expected to grow at a higher CAGR over the forecast period. The demand for the synthetic polymer is driven by the factors such as low cost and providing high quality at the same time. The Natural fibres segment is expected to grow at a steady rate over the forecast period.

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By Regional Outlook: The Asia Pacific region is leading the market with the largest revenue share in 2021, and it is expected to grow further at a higher rate owing to the growing number of manufacturing facilities being opened in the region and the abundance of raw materials in the region. The growth rate is expected to rise exponentially due to the support from the governments of the region. The North American region is expected to grow at a steady rate, owing to the increase in demand for technical textiles in the automotive, construction, and healthcare sector.

By Key Competitors and Market Share Analysis: As a result, leading firms are focused on maintaining long-term operations and developing manufacturing and distribution capabilities to increase their market position. The competition among the players is based on numerous parameters including quality, innovation, product offerings, price and, corporate reputation.

The following are some of the major market players operating across the globe:

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Segments Covered in the Report This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Technical Textile Market report on the basis of Manufacturing, Application, Material, and region:

The report segment of the global Technical Textile market is as follows: Global Technical Textile Market: By Manufacturing Outlook (Revenue, USD Million, 2021 – 2030)

Global Technical Textile Market: By Application Outlook (Revenue, USD Million, 2021 – 2030)

Global Technical Textile Market: By Material Outlook (Revenue, USD Million, 2021 – 2030)

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