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The sportech textiles market size is estimated to grow at a CAGR of 13.14% between 2023 and 2027. The market size is forecast to increase by USD 40,000.1 million. The growth of the market depends on several factors, such as increasing demand for sports apparel, the proliferation of new technologies in sportech textiles market, and the increasing popularity of sports in emerging economies.
This sportech textiles market report extensively covers market segmentation by type (woven fabric, non-woven fabric, and knitted fabric), application (sports shoe components, sports composites, and other sportech textiles), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the proliferation of new technologies in the sportech textiles market. Due to the emergence of several technological advancements, there has been a rapid expansion in the global textile industry across the majority of product categories, especially in technical textiles. There has been increasing use of smart technologies in technical textiles which enables clothes to track the wearer's/player's heart rate, temperature, and other physiological conditions.
Moreover, some of the main advantages of technical textile are that it is made up of materials that are harder than wood which keeps the skin dry, and also it is waterproof and eco-friendly as well. There is a significant development in the functional qualities of technical textiles dues to several advancements in spinning, weaving, and knitting segments, including melt spinning, thermo-forming, three-dimensional weaving, and wet knitting. Hence, such factors are expected to drive the sportech textiles market growth during the forecast period.
A key factor shaping the sportech textiles market growth is the advent of eco-friendly sportswear. The increasing demand for sustainable products is due to growing environmental concerns among customers. As a result, several manufacturers in the global sportech textiles market are promoting the use of eco-friendly raw materials in their production process.
Additionally, several institutions and organizations assist companies operating in the textile industry to comply with standard requirements of sustainability in textile materials and fabrics. For instance, EKO Sustainable Textile Standard, developed by Control Union, was one of the first international standards for the textile industry that promoted sustainability. Furthermore, there is an increasing focus on manufacturing products that are recycled and can minimize the negative impacts on the environment. Hence, such factors are expected to drive the sportech textiles market growth during the forecast period.
Fluctuations in raw material prices are one of the key challenges hindering the sportech textiles market growth. The main raw materials which are used for manufacturing sports each textile are derived from crude oil or forests. Hence, these raw materials are subjected to high fluctuations in prices. Some of the key raw materials which are prone to price fluctuations include polyester filament yarn (PFY), polytrimethylene terephthalate (PTT), nylon filament yarns, and resins as these are derived from crude oil.
Moreover, the main reason for the fluctuations in crude oil prices is due to the consistent demand-supply imbalance in the global crude oil market. As a result, the volatility in raw material prices results in uncertainty in the market which in turn increases the manufacturing costs and thereby affects the profit margin of market players. Additionally, manufacturers of purified terephthalic acid (PTA), mono ethylene glycol (MEG), polyester chips, polyester fiber, and polyethylene terephthalate (PET) have increased the raw material due to increasing crude oil prices. Hence, such factors are expected to hinder market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Sportech Textiles Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aquafil Spa: The company offers sportech textiles products under the brands ECONYL, Dryarn, and Borgolon e Microlon.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The woven fabric segment is estimated to witness significant growth during the forecast period. The woven fabric segment is widely used in clothing and garments or for decoration and covering purposes and is manufactured using two or more sets of yarn that are woven at right angles to each other. Some of the major characteristics of woven fabric segments include dimensional stability, flexibility, low elongation, controlled porosity, high tensile strength in both longitudinal and crosswise directions, and high burst strength. high suture retention strength.
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The woven fabric segment was the largest segment and was valued at USD 12,115.17 million in 2017. The main application of woven fabric segments is in products that need extreme stability and high durability. For example, breathable fabric material that is light, comfortable, tough, and durable enough to withstand abrasion, ripping, and punctures. are used to manufacture good-quality sports composite equipment. Thus the increasing demand for sport textiles for sports shoes, composites, and other sports technical textiles is expected to fuel the demand for woven textiles which in turn is expected to drive the global sportech textiles market growth during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the major countries in the APAC region which are significantly contributing to the growth of the global sportech textile market growth are China, Australia, Japan, India, and Vietnam. In India, the increasing demand for leading a healthy lifestyle and the growing popularity of fitness activities and sports is significantly fuelling the growth in the sales of sportech textiles such as sports footwear, accessories, composites, and gear.
Furthermore, factors such as the rise in the popularity of sports, changes in lifestyle and diet patterns, and the increase in the number of sporting events are significantly contributing to the growing popularity of sportech textiles in the region. Hence such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global sportech textiles market witnessed a significant slowdown due to disruptions in the supply chain as well as the temporary closure of several textile industries. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of production activities in the textile sector. Additionally, several sporting events such as the A-League season in 2022, the China Winter Olympics 2022, and others fuelled the demand for athletic apparel, footwear, and other textiles in sports in the sportech textiles market. Such factors are expected to drive the market during the forecast period.
The sportech textiles market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Sportech Textiles Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.14% |
Market growth 2023-2027 |
USD 40,000.1 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.94 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, Aditya Nonwoven Fabric Pvt. Ltd., AMSilk GmbH, Aquafil Spa, Baltex, Behrens Group, Bonfab Textiles India Pvt Ltd, Carvico Spa, Crypton LLC, DuPont de Nemours Inc., Formosa Taffeta Co. Ltd., Garware Technical Fibres Ltd., HeiQ Materials AG, Lear Corp., Milliken and Co., SKAPS Industries Inc., Solvay SA, Teijin Ltd., Toray Industries Inc., and Unifi Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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