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5th September 2019, London

Nanotextiles market to reach $14.8 billion

The study provides an updated, comprehensive description of nanotextiles. © Trends Market Research

The study provides an updated, comprehensive description of nanotextiles. © Trends Market Research

The global market for nanotextiles is expected to grow from US$ 5.1 billion in 2019 to US$ 14.8 billion by 2024 at a compound annual growth rate (CAGR) of 23.6% for the period of 2019-2024, according to the latest report by Trends Market Research. This report provides an updated review of nanotextile technology, including materials and production processes, and identifies current and emerging applications for this technology.

BCC Research delineates the current market status for these products, defines trends, and presents growth forecasts for the next five years. The market is analysed based on the following segments: nanotextile type, functionality, nanostructured material, application, and region. In addition, technological issues, including key events and the latest developments, are discussed.

Nanotextiles are a class of textiles that use nanotechnology during their fabrication process. In particular, the term nanotextiles applies to four categories of products: nanocoated textiles, fabrics consisting of nanofiber webs, textiles obtained from composite fibres based on nanostructures, and nanoporous textiles.

“Although the origin of nanotechnology can be traced back to the 4th century, the first nanotextiles were only introduced during the 1980s in the form of nanofibre-based membranes for filtration. During the past 40 years, sales of nanotextiles have expanded steadily and are currently experiencing very strong growth, due to their increasing use in the fabrication of mass-market products within a range of sectors,” the report says.

“This study provides an updated, comprehensive description of nanotextiles and their characteristics, highlighting the latest developments in their fabrication technology and features. It also offers a detailed market analysis for these products by segment (nanotextile type, functionality, nanostructured material, application, and region), describing technical aspects and trends that will affect future growth of this market.”

Consumer products, which include mainly apparel and household articles, currently account for the largest share of the market. Within this segment, nanotextiles are being used primarily for the fabrication of high-performance outerwear and stocking. Sales of these products have risen at a very healthy CAGR during the 2017-2019 period.

By comparison, nanofabrics for technical products have been expanding since 2017, mainly driven by applications in the mechanical/chemical/environmental, life science, and energy sectors.

Sales of nanotextiles are projected to continue rising at a double-digit rate during the next five years. Relevant factors that will contribute to market expansion through 2024 are:

  • Increasing penetration in large industry sectors such as apparel, filtration and separation, catalysis, biomedical, energy, and automotive
  • Greater utilisation in the fabrication of products characterized by strong demand, such as membranes, photocatalysts, and tissue engineering scaffolds
  • Growing market penetration of nanotextiles in developing countries
  • Increasing use of these products in wearable electronics and wearable medical devices.
  • High levels of related R&D activities

www.trendsmarketresearch.com

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