According to the 2016 Technical Textiles Top Markets Report brought out by the US Department of Commerce’s International Trade Administration, advances in medical technology, rising incomes and higher standards of living, increased spending on healthcare and an expanding construction sector are some of the key drivers fuelling growing demand for US technical textiles.
The report looks at the state of play for US exports of technical textiles. It forecasts an increase in trade of 4 per cent annually through 2017, and cites innovation, new technology and trade relationships developed under existing and future free-trade agreements as sustaining the projected growth.
It also highlights nine key countries offering particular opportunities for growth in the US technical textiles field – Brazil, Canada, China, India, Korea, Mexico, Singapore, Taiwan and Vietnam. Mexico and Canada are the two biggest markets for US exports, accounting for 55 per cent of total trade, and according to the report a boom in Mexico’s car manufacturing industry has had a direct effect on demand for industrial fabrics. The report advises the US to maintain awareness of the value of the North American market, adding that the future of the industrial textile industry will largely depend on new technology, and how it is applied.