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Technical Textiles Market Assessment and Revenue Forecast Until the End of 2026

Feb 6th 2019 at 1:03 AM

Technical textiles that find hygiene and medical applications are termed as medical textiles (Meditech). Key applications include surgical gowns, drapes, sutures, sanitary napkins, diapers, woven, knit, nonwoven wound care and sterile packaging. The Meditech segment was valued close to US$ 12 Bn in 2016 and is expected to be valued at almost US$ 20 Bn by the end of 2026, registering a CAGR of 4.9% over the forecast period. The segment is projected to represent an incremental $ opportunity of more than US$ 7 Bn in 2027 over 2017, mainly contributed by the rising number of applications in surgical equipment, dressings and clothing designed for patient comfort.

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Technical textiles that find applications in geotextiles and civil engineering are termed as geo textiles. Key applications include ground stabilisation, soil reinforcement, and erosion control. The Geotech segment accounted for a market value of US$ 4 Bn in 2016 and is projected to be valued at close to US$ 7 Bn by 2027. Rising number of applications in the field of civil engineering such as separation and stabilisation, filtration and reinforcement are expected to drive demand for industrial textiles over the forecast period.

Technical textiles that find applications in environmental protection are termed as ecological protection textiles (Oekotech). Key applications include recycling schemes, products for oil spill treatment and erosion control. The Oekotech segment was valued at a little more than US$ 4 Bn in 2016 and is expected to reach a market valuation in excess of US$ 6.5 Bn by the end of 2027, registering a CAGR of 5.1% over the forecast period. Technical textiles that find applications in building and construction are termed as Buildtech. Key applications include wall reinforcements, housewrap, facades, concrete wraps, sewer and pipe, and linings. The Buildtech segment was valued at US$ 13 Bn in 2016 and is estimated to be valued in excess of US$ 22 Bn by the end of 2027, expanding at a CAGR of 5.6% over the forecast period.

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Environmental sustainability is a matter of concern these days. It is the biggest challenge faced by textile industries across the globe. However, the usage of technical textiles is significantly growing in environmental protection applications such as erosion protection, waste treatment/recycling and domestic water sewerage plants. An increasing number of environmental protection projects in the near future is expected to accelerate the growth of the Oekotech application segment of the global technical textiles market.

Rising infrastructural development activities in BRIC countries is likely to fuel market demand in the Buildtex segment. This application of technical textiles is better in terms of durability and effectiveness than conventional textile materials. This segment commonly finds application in architectural applications such as faced foundation, insulation, concrete reinforcement and in construction. This vast usage in infrastructural development is creating a positive influence on the Buildtex segment.

Medical textile manufacturers have been focussing on refining existing products as well as on new product development to derive new materials with improved designs and features. These new medical textile products have been designed for infection control, minimally invasive surgical procedures and rapid healing of wounds. Governments of various countries are now supporting and providing different programmes to promote the manufacture and consumption of medical textiles. Medical textiles have been finding increasing applications such as in vascular implants. The main use of a vascular implant (graft and stent) is to act as an artificial channel for a diseased artery. The key desired characteristics of an artificial graft pertaining to a vascular implant are appropriate biodegradability, porosity and compliance, which are met by medical textile products classified under the category of implantable surgical textiles.

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