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Global technical textile market forecast

June 18th, 2020 / By: / Industry News

According to the report “Technical Textile Market Size, Share & Trends Analysis Report by Manufacturing” by ResearchAndMarkets.com, the global technical textile market size is expected to reach USD 250.6 billion by 2027, expanding at a CAGR of 4.5%. Superior properties of technical fabric such as excellent strength, versatility and superior performance make them desirable for numerous industrial applications.

Farmers are shifting their focus towards agro-tech products owing to uncertainty in climate, limited availability of water, and threat to crops from being damaged by insects and pests. These agro-tech products are expected to boost agricultural productivity, thereby boosting market growth over the forecast period.

Factors such as increasing demand for high-performance and energy-efficient fabric and stringent government regulations regarding performance in various applications have driven market growth. Technical fabrics are been witnessing burgeoning penetration in end-user industries for varying applications, such as automotive, packaging and medical.

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