Leading Players and Trends in the Pharmaceutical CDMO Market

Answer : According to Precedence Research, the global technical textile market size was valued at US$ 175.73 billion in 2019 and expected to reach US$ 251.82 billion by 2027.

Answer : The global technical textile market is growing at a compound annual growth rate (CAGR) of 4.6% during the forecast period 2020 to 2027.

Answer : Increasing awareness of technical textile regarding its benefits compared to traditional textiles is considered as a major factor that is likely to boost the market growth. Some of its unique functional properties include durability, cost-effectiveness, low weight, high strength, versatility, eco-friendly, and logistical convenience. Hence, it is large used for wide range of applications that include automotive, construction, aerospace, packaging, apparel, agriculture, medical, and many others. Growth in the automotive industry is likely to propel the demand for technical textile owing to its increased application for protective gears, floor covering, roof & door liners, tyres, safety devices, and seat covers.

Answer : 3D weaving manufacturing technology held a market share of around 24% in 2019 attributed to the larger implementation of 3D weaving manufacturing technology in various industries.

Answer : The Asia Pacific emerged as a front-runner in the global technical textile market accounting for a revenue share of nearly 46% in 2019 and expected to maintain its dominance over the forecast timeframe.

Answer : Hometech textiles segment captured the highest value share of around 20% in 2019 because of its large application in household products.

Answer : Some of the key players operating in the market are B&V Agro Irrigation Co., LudvigSvensson, Diatex, Asahi Kasei Advance Corporation, Mitsui Chemicals, Inc., Gromax Industries, Huntsman International LLC, Arrigoni S.p.A., Tessitura Boscato S.R.L., Hucktek - Huck Nets (UK) Ltd., MDB Texinov, Low & Bonar PLC, BeniplastBenitex SA, Freudenberg Group, and Ahlstrom-Munksjo among others.