US$ 260.3 Bn Technical Textiles Market Poised to Witness Steady Growth
Verfasser: Monicafmi31 on Monday, 8 May 2017Future Market Insights’ recent report on global technical textiles market projects that Asia-Pacific will be observed as the world’s largest market for technical textiles during the forecast period, 2017-2027. The report values the global technical textiles market at little less than US$ 166 Bn, and anticipates it to reach US$ 260.3 Bn by the end of 2027. While the global market for technical textiles is projected to grow at below average pace and register a value CAGR of 4.6%, the demand for technical textiles is likely to gain traction across Asia-Pacific countries such as India and China, among others.
The report, titled “Technical Textiles Market: Global Industry Analysis and Opportunity Assessment, 2017-2027,” also projects that in terms of consumption, the market shall incur a promising growth, exhibiting a volume CAGR of 5.3%. By the end of 2017, more than 34 million tonnes of technical textiles will be consumed across the globe. And, this number is likely to reach 57 million tonnes by 2027-end. During this forecast period, the report is anticipating a sluggish revenue growth for global technical textiles market, primarily due to high prices of technical textiles as opposed to alternative fabrics and lack of awareness regarding benefits of technical textiles.
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