Hometech Textiles Market Report

Market Insights

The Hometech Textiles Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 4.8% during the forecast period.

Figure: Hometech Textiles Market Size, 2020-2026 (USD Million)

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What are hometech textiles?

A technical textile used in home furnishing and clothing is called hometech textile. Hometech products are made of both natural and synthetic fibers. These textiles are widely used in furniture and interior decoration, cushion materials, wall coverings, carpeting, etc.

Key Players

Key players operating in the hometech textiles market are-

• Polymer Group Inc. (US)
• Freudenberg and Co. (Germany)
• TWE Group (Germany)
• Ahlstrom Corporation (Finland)
• Dupont Chemicals Company (US)
• Aadinath Hometech (India).

Market Dynamics

Rising technological developments, rapid urbanization, significant growth in the housing sector, rise in per capita income, and better living standards are some of the key factors boosting the market growth. Also, with a growing population across the globe, the demand for hometech textiles is growing proportionally. Increasing disposable incomes & customer spending and the growing purchasing power of customers in developing countries are driving the growth of the global home tech textiles market.

Segments' Analysis

Material Trends

Based on material, the hometech textiles market is classified into the natural fiber, synthetic polymer, mineral, metal, regenerated fiber, and others. The natural fiber segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to the rise in awareness of environmental pollution caused by synthetic materials. This has resulted in the development and adoption of environment-friendly natural materials in technical textiles production, which bolsters the segment growth. 

Regional Trends

By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a rise in household income, increase in the middle-class population, rapid urbanization, and change in lifestyles of the population, Also, expansion of residential construction activities, on account of sustainable economic growth in the region, further proliferates the regional market growth.

COVID-19 Impact on Hometech Textiles Market

The COVID-19 outbreak has moderately affected the hometech textiles industry. The virus outbreak has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic has affected the demand as well as the manufacturing in supply regions. The COVID-19 crisis has affected the chemical industry supply chain to a major extent; thus, having a major impact on raw material procurement, which is likely to affect the product demand.

Critical Questions Answered in the Report

• What are the key trends in the hometech textiles market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on hometech textiles?
• What are the key strategies adopted by the major vendors to lead in the hometech textiles market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the hometech textiles market hopes to have the greatest opportunity to convert-

• Hometech textiles vendors
• Hometech textiles retailers
• Technical textile companies
• Fabric companies

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