Tech-textile market projected to reach €184 bn by 2022
The tech-textile market was estimated at €138 billion in 2017 and is projected to reach €184 billion by 2022, or a CAGR of 5.9 per cent. This important increase is fuelled by the increasing demand from end-use industries, more favourable conditions of countries and increasing end-use applications, including new end-uses where actually non-textiles are used.
The global coating market amounts to €4.7 billion and is projected to reach €5.8 billion by 2021 at a CAGR of 3.5 per cent.
“Asia-Pacific dominates the textile coating market with China as the largest consumer of textile coatings worldwide. Other emerging important countries are the UAE, Argentina, India, Australia, South Africa, Malaysia and Chile. Moreover, the ensuing increase in investments and rise in number of manufacturing establishments are expected to lead Asia-Pacific as the prime driver for the growth of coated textile,” Marc Van Parys, president of Unitex, told Fibre2Fashion in an interview.
Unitex is a non-profit organisation for the textiles industry with members in Belgium and neighbouring countries like the Netherlands, Germany, France and Italy. Its activities include technical assistance for members, conducting workshops, mini-symposia and international congresses (bi-annual digital textile congress, bi-annual coating and laminating congress and a tri-annual carpet congress).
One of the main markets for coated textiles is protective clothing involving garments or textile materials which are worn to safeguard personnel from coming in contact with hostile elements or environments. It reduces the risk of the person wearing protective clothing from injury, damage or death, added Parys.
The global protective clothing market is poised to grow at a CAGR of around 6.8 per cent over the next decade to reach approximately €11 billion by 2022. The global fire-resistant fabrics market is projected to reach €4.5 billion by 2021 at a CAGR of 5.3 per cent from 2016 to 2021. Moreover, the rising demand for protective clothing from various end-use industries such as oil & gas, construction & manufacturing, and chemicals is boosting to drive the chemical and fire-resistant fabrics markets.
Source: DNA India, India Thursday, 14 June 2018