Portland, OR -- (SBWIRE) -- 07/03/2018 -- 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 mobile tech segment accounted for approximately one-fifth of the total share of the end user industry in terms of revenue.

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The robust growth in the production of automobiles and increase in construction activities has led to increased demand for mobiltech textile and home tech 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 have fueled the growth of home tech textiles in the 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.

The global technical textile market is driven by increasing demand for home tech textile and mobile tech textile. The application of technical textile in the mobile tech segment is crucial, as it reduces the weight of vehicles by providing light advanced material that is strong and durable. Various components of automobiles such as seat upholstery, carpets, seat belts, headliners, tire cords, liners, composite reinforcements for automotive bodies, civil and military aircraft bodies, wings, and engine components are made up of technical textiles, owing to their light weight and high strength. The growing construction and housing activities in emerging economies such as India and China have fueled the growth of home tech textiles for household application. Moreover, government regulations mandating the use of geosynthesis in infrastructure development projects have paved the way for growing demand in the technical textile market.

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Technical Textile Market Key Findings:
-Asia-Pacific is expected to continue to lead the market during the forecast period followed by Europe.
-Mobiltech end user segment generated the highest revenue and is projected to grow with a CAGR of 5.2% during the forecast period.
-Geotech is the fastest growing end user segment in the technical textile market registering a CAGR of 7.3% during the forecast period.
-The technical textile market in LAMEA region is expanding at a CAGR of 6.8% from 2016 to 2022.
-Nonwoven type technical textile accounted for more than half of the share in the global technical textile market, registering a CAGR of 6.7% from 2016 to 2022.

Asia-Pacific and Europe collectively contributed more than half of the share in the global technical textile market by revenue in 2015. The major players that operates in the market are DuPont de Nemours & co., Ahlstrom corporation, Johns Manville, GSE Environmental Inc., Royal Ten Cate, Freudenberg & Co., Proctor and Gamble, 3M, Huesker Synthetic GmbH, and Hindustan Technical Fabrics Limited.

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