Rise in demand for geotextile from developing nations and preference for non-woven technical fabrics propel the growth of the global technical textile market. Asia-Pacific accounted for the largest share in 2019, and will maintain its lead position during the forecast period. The supply chain has been disrupted due to lockdown during the Covid-19 pandemic. This has presented roadblocks to raw material procurement for the chemical industry.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The global technical textile market garnered $201.2 billion in 2019, and is expected to reach $274.1 billion by 2027, witnessing a CAGR of 5.1% from 2020 to 2027.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The synthetic polymer contributed to more than half of the total share of the global technical textile market in 2019, and is estimated to maintain its dominance by 2027. On the other hand, the natural fiber segment is estimated to portray the highest CAGR of 5.9% throughout the forecast period.
The Technical textile market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Technical Textile Companies Chovered Market:- Asahi Kasei Corporation, Baltex, Ahlstrom Munksjö, Berkshire Hathaway Inc., Berry Global, Inc., Duvaltex, Freudenberg & Co. KG, GSE Environmental, Dupont De Nemours, Inc. (Dupont), Kama Holdings Limited and Other.
Asia-Pacific accounted for the largest share in 2019, contributing to more than one-third of the total share of the market, and will maintain its lead position during the forecast period. Moreover, this region is estimated to witness the highest CAGR of 5.9% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Technical textile market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Technical textile market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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