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Technical Textile Market Report, published by Allied Market Research, forecasts that the global market is expected to reach $244,032 million by 2022 from $158,429 million in 2015 with a CAGR of 6.4% from 2016 to 2022. In 2015, the mobiletech segment accounted for approximately one-fifth of the total share of the end user industry in terms of revenue.
Access Full Summary at : https://www.alliedmarketresearch.com/technical-textile-market
The robust growth in the production of automobiles and increase in construction activities has led to increased demand for mobiltech textile and hometech textile respectively. Technical textile is applicable in various automotive parts such as airbags, seatbelt, carpets, filters, hood liners, battery separators, and belt reinforcement as it reduces the overall weight of the vehicle. The growing construction and housing activities in emerging economies such as India and China has fueled the growth of hometech textiles in household application.
However, high production cost of finished goods and high toxic waste production are some factors that hamper the growth of market, while recyclability of nonwoven textiles is expected to open new avenues for the technical textile market during the forecast period.
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