October 07, 2022 12:43 ET | Source: ReportLinker ReportLinker

New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Technical Textiles Market - Competition Forecast and Opportunities, 2027" - https://www.reportlinker.com/p06325882/?utm_source=GNW The global technical textiles market is anticipated to witness significant CAGR in the forecast period, 2023-2027.The advantages offered by technical textiles, such as cost-effectiveness, lightweight, hygiene and safety, durability, strength, user-friendliness, and logistical convenience, and the rise in awareness and applications of technical textiles are the primary factors driving the demand for the global technical textiles market. Also, the extensive ongoing research and development activities and the integration of novel technologies are expected to create numerous growth opportunities for the market players in the forecast period. Supportive Government Policies Favors the Market Growth The textile industry faces major challenges in growing in different countries, such as technical standard requirements, conformity assessment procedures, and tariff barriers.Several government bodies are working to boost the local textile industry through free trade agreements. Europe is the second largest exporter of garment and footwear products in Vietnam.The European Union in 2019 signed a free trade deal with Vietnam to cut 99% of the tariffs on almost all goods. Moreover, the Indian government is supporting technical textiles market by boosting domestic production in the form of policies and regulations.For example, the National Technical Textile Mission, which was started for a period of 4 years (2020-21 to 2023-24), was approved with an outlay of USD 182 million for developing usage of technical textiles in various flagship missions, programs of the country including strategic sectors. Favorable government policies across the globe are expected to accelerate the global technical textiles market growth over the next five years. Growing Applications of Geotextiles Fuels the Market Demand The improvement in the economic conditions of several developing countries around the globe gives the leading authorities the power to invest in infrastructure development in their country.Geotextiles are used for separating subgrades and rock and granular materials and for road surface reinforcement and substructure. Geotextiles are used to provide earthquake resistance and in underground drainage.Geotextiles on coasts are used as a filter to control the corrosion of wall and floor structures. It is also used to separate material in the foundation of coastal soils and breakwaters.Geotextiles are also used in dam construction for waterproofing and preventing the water from settling into the dam body. They can act as a substitute for sand materials and showcase the same efficiency and function as sand filters. The other applications of geotextiles are in the liquid and gas collection system, sewage ponds and chemicals, lining and insulation of tunnels, and the construction of agricultural water storage pools and an artificial lake. Massive applications of geotextiles are expected to propel the global technical textiles market over the forecast period. Market Segmentation The global technical textiles market is segmented into material, technology, application, regional distribution, and competitive landscape.Based on material, the global technical textiles market is divided into natural fiber, synthetic polymers/fibers, mineral fiber, regenerated fiber, and others. Natural fiber is further fragmented into cotton, wool, others and synthetic polymers are divided into polyether sulfone, polyamide, polyacrylonitrile, polypropylene, others.Similarly, mineral fiber is divided into asbetos, glass fiber, ceramic fiber and regenerated fiber into rayon v/s acetate. Based on technology, the global technical textiles market is divided into woven, knitted, non-woven, and others.Based on application, the global technical textiles market is divided into mobiltech, sportech, buildtech, hometech, clothtech, meditech, agrotech, protech, others. To analyze the market based on the region, the global technical textiles market is studied in regions namely North America, Europe, Asia-pacific, South America, Middle East and Africa. In terms of country, United States is expected to hold substantial market share as it witnesses wide applications in various end-user industries. Market Players Asahi Kasei Corporation, Kimberly Clarke Corporation, Berry Global Group, DuPont de Nemours, Inc., Mitsui Chemicals, Inc., Freudenberg Group, Toray Industries, Inc., Huntsman Corporation, SRF Limited, Toyobo Co, Milliken & Company, Koninklijke Ten Cate B.V., Reliance Industries Limited, International Textile Group, Duvaltex (US), Inc., are the key market players operating in the global technical textiles market. Report Scope: In this report, global technical textiles market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Technical Textiles Market, By Material: o Natural Fiber Cotton Wool Others o Synthetic Polymers/Fibers Polyether Sulfone Polyamide Polyacrylonitrile Polypropylene Others o Mineral Fiber Asbetos Glass Fiber Ceramic Fiber o Regenerated Fiber Rayon Acetate o Others • Technical Textiles Market, By Technology: o Woven o Knitted o Non-Woven o Others • Technical Textiles Market, By Application: o Mobiltech o Sportech o Buildtech o Hometech o Clothtech o Meditech o Agrotech o Protech o Others • Technical Textiles Market, By Region: o North America United States Mexico Canada o Europe France United Kingdom Italy Germany Spain o Asia-Pacific China India Japan South Korea Australia o South America Brazil Argentina Colombia o Middle East & Africa South Africa UAE Saudi Arabia Competitive Landscape Company Profiles: Detailed analysis of the major companies present in global technical textiles market. Available Customizations: With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report: Company Information • Detailed analysis and profiling of additional market players (up to five). Read the full report: https://www.reportlinker.com/p06325882/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________