The global buildtech textiles market size is anticipated to reach USD 19.04 billion by 2025, expanding at a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. Rising awareness among builders regarding the use of sound-absorbing and heat insulation materials that are sustainable and durable is anticipated to drive the product demand.
Increasing investments in infrastructure and commercial construction are expected to fuel the product demand over the forecast period. The change in government regulations regarding reducing greenhouse gas emissions and promoting the development of energy-efficient and zero-energy buildings is projected to complement market growth.
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Steady population growth, availability of skilled labor, and technological advancements in the emerging economies of China, India, and Brazil are other factors expected to drive the construction industry over the forecast period. The rise in construction activities is estimated to drive the demand for construction materials, including buildtech textiles, for providing protection against chemicals, UV rays, and heat.
Further key findings from the report suggest:
• The application of buildtech textiles in the residential application in North America is estimated to witness a CAGR of 5.9%, in terms of revenue, from 2019 to 2025 owing to the rising population, urbanization, and increased immigration rate in the region
• The woven buildtech textiles is estimated to reach USD 5.32 billion by 2025, on account of the product’s attributes including high strength and high strength to weight ratio along with low cost
• The synthetic buildtech textiles are estimated to witness a CAGR of 5.6%, in terms of revenue, on account of superior performance characteristics of the product such as high stiffness and increased permeability of the fabrics
• Asia Pacific accounted for 38.2% of the global revenue share in 2018, owing to the growth of the construction industry in the developing economies of China and India coupled with rising demand for green buildings
• Major market players are focusing on expanding their geographic reach and increasing the company’s product portfolio, thereby obtaining a significant share in the buildtech textiles market
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Grand View Research 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)
• Natural
• Synthetic
o HDPE
o PET
o Nylon
o Polyethylene
o Polypropylene
o Others
Buildtech Textiles Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Woven
• Non-woven
• Knitted
• Others
Buildtech Textiles Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Residential
• Non-residential
Buildtech Textiles Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• North America
o U.S.
o Canada
o Mexico
• Europe
o France
o Germany
o Italy
o Russia
o Spain
o U.K.
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Central & South America
o Brazil
• Middle East & Africa
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.