Page 25 - TEXtalks International April/May 2022

24
Global Technical Textiles market

to reach $217.8 Billion by 2025

Global Industry Analysts Inc. (GIA) published a new estimated at US$189.2 Billion in the year 2022, is
market study; the premier market research company projected to reach a revised size of US$217.8 Billion
released a report titled "Technical Textiles - Global by 2025, registering a compounded annual growth
Market Trajectory & Analytics." The report presents rate (CAGR) of 5.0% over the analysis period.
fresh perspectives on opportunities and challenges
in a significantly transformed post-COVID-19 Europe represents the largest regional market for
marketplace. Global Industry Analysts, Inc. Technical Textiles, accounting for an estimated
(www.strategyr.com) is a renowned market research 28.8% share of the global total. The market is
publisher the world`s only influencer-driven market projected to reach US$58.5 Billion by the close of
research company. Proudly serving more than the analysis period. Asia-Pacific is forecast to
42,000 clients from 36 countries, GIA has been emerge as the fastest-growing regional market with
recognized for accurately forecasting markets and a CAGR of 7.7% over the analysis period.
industries for over 33 years.
The global market for technical textiles is being
Technical textiles are fibrous materials produced propelled by expanding applications in various
using combinatorial processes such as knitting, end-use sectors, a steady pace of technology
weaving, composites formation, and nonwovens, advancements, and a relatively stable economic
among others, and offered in different forms, environment. The rapid growth of the automotive
including fabrics, yarns, mats, composites, made-up industry in emerging economies and the growing
goods, and also converted products. Due to their use of technical textiles in construction industry
varying grades suited for different applications, applications are expected to stimulate growth in the
technical textiles are used in multiple industries, coming years. Growth will also be driven by the
including construction, water treatment, construction sustained increase in healthcare spending world-
and sport, and leisure industries. Amid the COV- wide and the growing emphasis on sustainable
ID-19 crisis, the global market for Technical Textiles, manufacturing and environmental conservation.

April/May 2022