Reportstack has announced a new market research report on the Global Technical Textiles Market 2015-2019. One of the major trends upcoming in this market is the increase in demand for geotech products such as geotextiles. Geotextiles are being consistently used in the construction of roads and for automotive applications, as a result of which, their demand is increasing considerably. The Global Technical Textiles Market is expected to grow at a CAGR of 3.71 percent in terms of revenue and at a CAGR of 3.91 percent in terms of volume, during 2015-2019.
The development of technical textiles is being encouraged by governments of countries in the EU and countries such as China and India in the APAC region. Moreover, key vendors in the market have increased their R&D spending to innovate and also offer value-added services, thereby driving the market growth. The consumption of technical textiles is expected to increase primarily because of an increased demand from developing countries such as China, India, and Brazil, for construction and infrastructure projects and civil engineering purposes. Various automotive textiles, structural canopies and awnings, protective textiles, and defense textiles are being increasingly used in various regions of the world, thereby contributing to the market growth. The demand for innovative technical textiles from the Medical and Healthcare industries is also expected to drive the market.
“Non-woven geotextiles are expected to be in strong demand because of their increased usage in infrastructure projects worldwide, thereby contributing to the market growth,”.
“The governments of several countries are also implementing favorable policies and establishing environmental norms that encourage the use of geotextiles.”
To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To access full report with TOC, please visit Global Technical Textiles Market 2015-2019