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Technical textile market forecast

May 7th, 2021 / By: / Industry News, News

According to a report by MarketsandMarkets.com, the technical textile market is estimated at USD 164.6 billion in 2020 and is projected to reach USD 222.4 billion by 2025, at a CAGR of 6.2%.

Factors contributing to growth include improving economic condition of countries, technology advancement and increasing end-use applications. Increasing demand for end-use industries such as healthcare, construction, clothing, packaging, sportswear and sports equipment automotive and environmental protection is expected to drive the overall technical textiles market growth from 2020 to 2025.