Day by day the consumptions of technical textile are increasing and it is going to make Asia-Pacific the world’s largest market for technical textiles by the period, 2017-2027. It is seen that the global technical textile market is likely to be worth of US$260.3 billion by the end of 2027 considering a growth at a CAGR of 4.7%.
The technical textiles available in the global market are indutech, mobiltech, oekotech, protech, geotech, agrotech, packtech, clothtech, hometech, buildtech, meditech, and sporttech. The meditech segment is projected to soar in the coming years because of its application in the areas of patient clothing and surgical equipment. It is expected likely to be worth US$20 billion by the end of 2027 as compared to US$12 billion in 2016. Between the period of 2017 and 2027 this segment is projected to show a rise of 4.9% CAGR.
The demand for geotextiles is also increasing being used in civil engineering, geotechnical & environmental design. Towards the end of the forecast period, the geotextiles segment is estimated to value US$7 billion. On the contrary, rise in the civil engineering activities is also expected to promote the uptake of this material in the near future.
Source: Textile Today
