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Indian technical textile market to grow rapidly: report

22 Nov '19

2 min read

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The technical textiles market in India should shape up rapidly in the near future keeping in the view support from the government and investments by stakeholders in this sector, according to a report on the technical textiles market by London-headquartered Future Market Insights.

As environmental sustainability has become a global concern, demand for technical textiles for applications like erosion protection, waste treatment and recycling is likely to ascend in the near future.

Moreover, India, like some other countries like Germany, has been supporting growth of the technical textiles industry through initiatives like tax benefits on import of technology and training assistance in operations and marketing, says the report.

Growth of this sector has been phenomenal in developing countries such as BRIC, particularly India, and this growth continues to efficiently cater to both export and domestic markets, the report notes.

Momentous growth of construction industry is subsequently pushing demand for functional textiles. With sales of heat & fire resistant, protective & insulating, chemical & stain resistant, and highly durable fabrics climbing at a pace, the global technical textiles market is expected to witness healthy growth in the near future. In 2018, this market recorded revenues worth $174 billion, as indicated by a recent market intelligence report.

Technical textiles are rapidly emerging as a substitute for conventional fabrics, and non-fibre materials like metals. In developed regions like Europe and North America, textile manufacturers have been shifting from the manufacture of commodity goods to technical products like technical textiles, a press release from the company said citing the report.

Growing infrastructural development activities in developing countries, especially in BRIC nations, is expected to drive the demand for Buildtex, a technical textile that is more durable and effective compared to conventional textile materials, the report added.

Fibre2Fashion News Desk (DS)