TECHNICAL TEXTILE MARKET ANALYSIS

Market Challenges And Opportunities

Market Restraints

Expensive as compared to conventional textiles

Technical textiles are expensive as compared to conventional textiles. This is attributed to the high costs associated with raw materials and production costs of technical textiles. For example, the polymerization process used in the creation of technical textiles is more capital intensive as compared to conventional textiles. Moreover, the technical textile manufacturing process requires more technically trained workers, which in turn adds to the costs of finished goods produced from technical textiles.

Drivers

Growth in the automotive sector across emerging markets

Robust growth in the automotive sector across emerging industries is propelling the market growth of technical textiles. The increasing use of technical textiles to develop lightweight vehicles and to increase fuel efficiency is accelerating the market growth of technical textile. Moreover, technical textile is used in components such as air-bags and seat belts. Also, emerging markets in countries such as India and China are projected to play a significant role in driving the demand for Mobiltech textiles.

Rise in the number of manufacturing industries

The rise in the number of various manufacturing industries around the globe is boosting the demand for Indutech (an industrial textile) which is fueling the market growth of technical textiles. For instance, Indutech is one of the largest application segments in the technical textile market and its growth is directly associated with that of industrial production. This is projected to increase demand for various products under the Indutech textile segment such as woven filters, dust filters, industrial belts & hoses, and conveyor belt fabric.