The global buildtech textiles market size is estimated to account for USD 19.04 billion by 2025, as per Million Insights. The market is likely to expand at 5.8% CAGR over the forecast duration. Increasing awareness about the use of sustainable heat insulation and sound-absorbing materials in construction is attributing to the growth of the market.
Rising investment in commercial construction activities and infrastructural development is further predicted to drive market growth. Governments across the globe are emphasizing on reducing the emission of greenhouse gases along with promoting the use of energy-efficient materials. This factor is anticipated to bode well for the growth of the market.
Some of the other factors such as the availability of well-trained workers, technical advancement and population growth are predicted to supplement the growth of the market. Buildtech materials offer protection against heat, UV rays and chemicals. These benefits are projected to make them ideal for the construction of buildings.
Key players functioning in the build tech textile market are 3M, Toray, DuPont, SRF Limited, SKAPS Industries and Ahlstrom-Munksjö among others. These players have a widespread presence and they are focusing on consolidating their market presence in Asia Pacific and the Middle East to cater to the increased demand.
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Further key findings from the report suggest:
• The woven segment is projected to account for USD 5.32 billion by the end of 2025.
• In 2018, APAC held over 38% of the share in the market owing to the increasing demand from countries such as China and India.
• The synthetic buildtech textile category is anticipated to register 5.6% CAGR from 2019 to 2025.
• Key players are focusing on strengthening their market presence in emerging countries where there is a huge demand for sustainable construction materials.
Million Insights has segmented the global buildtech textiles market on the basis of raw material, product, application and region:
Buildtech Textiles Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Buildtech Textiles Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Buildtech Textiles Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Buildtech Textiles Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• South Africa