"Technical Textiles Market Will be worth US$160.38 Billion By the End of 2018 "
The market for technical textiles has been consistently gaining traction from its diverse application areas such as sports, aerospace, automotive, defense, agriculture, and healthcare. According to the projections of a business intelligence report by Transparency Market Research (TMR), the global technical textiles market will be worth US$160.38 billion by the end of 2018, with the demand incrementing at a CAGR of 3.3% during the forecast period of 2012 to 2018. Innovation Key Strategy in a Fragmented Competitive Landscape The analyst of the TMR report has highlighted a predominantly fragmented scenario in the technical textiles market, with the global shares distributed among a large number of regional and International players. As the entry barriers are fairly low and raw materials easily available, regional and domestic players are able to compete forcefully with the major players. Consumers often opt for low cost products that are provided by locally positioned pla...