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Textile Engineering / Top 3 highest-selling technical textiles: hometech, buildtech and meditech
« on: March 15, 2018, 05:50:32 PM »
Technical textiles accounted for nearly 29% share of the global textile revenues in 2015. Demand for technical textiles is expected to remain steady during the forecast period 2015-2020, owing to a widening applications in end-use industries, such as automotive, healthcare, construction, and sports equipment.
Hometech, buildtech, and meditech are the three highest-selling technical textiles globally. Resurgence in housing sector, steady infrastructure development, and demand for highly functional textiles for use in healthcare sector are fuelling demand for these technical textiles segments. Demand for these three technical textile types will remain strong throughout the forecast period. However, Oekotech, Geotech, and Sportech will be the fastest growing segments in terms of revenues.
Figure 3: Top 3 fastest growing segments CAGR 2015-2020
Oekotech – technical textiles used in environmental protection and waste disposal – are anticipated to grow at the fastest compound annual growth rate (CAGR) in terms of revenues. Increasing emphasis on sustainable development and consumer awareness on reducing carbon footprint are influencing both government and private entities to opt for Oekotech.
Demand for Geotech technical textiles – textiles used in civil engineering and geotechnical applications – is projected to witness 6% CAGR in terms of revenues through 2020.
Sportech – technical textiles used in sports and leisure sector – are also anticipated to witness steady demand owing to growing demand for sports equipment, especially among the millennial segment.
Hometech, buildtech, and meditech are the three highest-selling technical textiles globally. Resurgence in housing sector, steady infrastructure development, and demand for highly functional textiles for use in healthcare sector are fuelling demand for these technical textiles segments. Demand for these three technical textile types will remain strong throughout the forecast period. However, Oekotech, Geotech, and Sportech will be the fastest growing segments in terms of revenues.
Figure 3: Top 3 fastest growing segments CAGR 2015-2020
Oekotech – technical textiles used in environmental protection and waste disposal – are anticipated to grow at the fastest compound annual growth rate (CAGR) in terms of revenues. Increasing emphasis on sustainable development and consumer awareness on reducing carbon footprint are influencing both government and private entities to opt for Oekotech.
Demand for Geotech technical textiles – textiles used in civil engineering and geotechnical applications – is projected to witness 6% CAGR in terms of revenues through 2020.
Sportech – technical textiles used in sports and leisure sector – are also anticipated to witness steady demand owing to growing demand for sports equipment, especially among the millennial segment.