Asia-Pacific will be the world’s largest market for technical textiles during 2017 to 2027. Technical textiles are likely to gain traction across Asia-Pacific countries such as India and China, among others.

During this period the global market for technical textiles is projected to grow at a CAGR of 4.6 per cent. In terms of consumption, the market will grow at a CAGR of 5.3 per cent. By the end of 2017, more than 34 million tons of technical textiles will be consumed across the globe. And this number is likely to reach 57 million tons by 2027-end.

More than 50 per cent of global technical textile revenues will be accounted for by the Asia Pacific region. While the Asia-Pacific technical textile market will register rampant expansion at a CAGR of 6.8 per cent, regions such as North America, Western Europe, Eastern Europe, and Middle East and Africa will showcase sluggish growth through 2027. Sales of technical textiles in Latin America, on the other hand, are likely to depict a relatively favorable growth at 4.5 per cent CAGR.

But sluggish revenue growth is anticipated for the global technical textile market, primarily due to high prices of technical textiles as opposed to alternative fabrics and lack of awareness regarding benefits of technical textiles.