(MENAFN- PR Newswire) NEW YORK, July 20, 2023 /PRNewswire/ -- The
sportech textiles market size is expected to increase by USD 34.71 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 13.04% , according to Technavio –
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including - AMSilk GmbH, Aquafil Spa, Baltex, Behrens Group, Carvico Spa, Crypton LLC, HeiQ Materials AG, Lear Corp., Polartec LLC, Schoeller Textil AG, SKAPS Industries Inc., Solvay SA, Toray Industries Inc., Unifi Inc., DuPont de Nemours Inc., Teijin Ltd., and Garware Technical Fibres Ltd.
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![Technavio has announced its latest market research report titled Global Sportech Textiles Market]( "Technavio has announced its latest market research report titled Global Sportech Textiles Market")
Technavio has announced its latest market research report titled Global Sportech Textiles Market
Sportech Textiles Market Insights -
Vendors : 15+, Including AMSilk GmbH, Aquafil Spa, Baltex, Behrens Group, Carvico Spa, Crypton LLC, HeiQ Materials AG, Lear Corp., Polartec LLC, Schoeller Textil AG, SKAPS Industries Inc., Solvay SA, Toray Industries Inc., Unifi Inc., DuPont de Nemours Inc., Teijin Ltd., and Garware Technical Fibres Ltd., among others Coverage:
Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors Segments:
Application (Sports shoe components, Sports composites, and Other sportech textiles) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
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Key Drivers-
The increasing demand for sports apparel is one of the key factors driving the sportech textiles market growth. Various sports apparel, such as jerseys, team uniforms, and other durable wear, for the performance training of athletes, are produced using Sportech textiles. Furthermore, the development and use of highly functional materials in sportswear and outdoor leisure clothing are rapidly increasing focus on the safety and performance of end-users. For instance, Ornot launched the Magic Shell Jacket knit with Polartec NeoShell fabric technology which is made of waterproof fabric and is stretchable, lightweight, and breathable. The demand for premium-priced, branded specialty fibers is increasing because it improves the dissipation of heat and moisture at high metabolic rates. Hence, these factors are expected to drive market growth during the forecast period.
Major Trends-
Rising innovative product launches is one of the major trends contributing to the sportech textiles market growth. Functional materials have become more common in outdoor leisure and sportswear. Furthermore, sportech products demand balance in various properties of drape, warm protection, the barrier to liquids, antistatic, stretch, and physiological comfort . As a result, a lot of players are introducing innovative sportech textiles and fabrics that protect against wind, repel water, block UV rays, and kill bacteria and odors. For example, Polartec LLC introduced 100% recycled Power Air fabric. Moreover, this new Polartec Power Air fabric is also 25% lighter than the initial product. Hence, innovative product launches are expected to drive market growth during the forecast period.
Significant Challenges-
Volatility in raw material prices is one of the significant factors hindering the sportech textiles market growth.
This is because these materials are obtained from crude oil or forests. Sportech textiles are produced by using substrates such as paper, polymer film, and silicone. The systemic demand-supply imbalance in the global crude oil market is due to fluctuations in crude oil prices. As a result, it leads to uncertainty in the market, which increases production costs and reduces the profit margins of vendors. There has been a continuous rise in crude oil prices in recent years. The prices of the raw materials have been increased by the manufacturers of purified terephthalic acid (PTA), mono ethylene glycol (MEG), polyester chip, polyester fiber, and polyethylene terephthalate (PET). These raw materials are commonly used to manufacture sportech textiles. Hence, these factors are expected to restrict market growth during the forecast period.
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The Sportech textiles market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.
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What are the key data covered in this Sportech Textiles Market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the sportech textiles market between 2022 and 2026 Precise estimation of the size of the sportech textiles market and its contribution to the market in focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the sportech textiles market across APAC, North America, Europe, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of sportech textiles market vendors
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| Sportech Textiles Market Scope |
| Report Coverage | Details |
| Base year | 2021 |
| Historic period | 2017-2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 13.04% |
| Market Growth 2022-2026 | USD 34.71 billion |
| Market structure | Fragmented |
| YoY growth 2022-2023
(%) | 12.84 |
| Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution | APAC at 31% |
| Key countries | US, Canada, China, India, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | AMSilk GmbH, Aquafil Spa, Baltex, Behrens Group, Carvico Spa, Crypton LLC, HeiQ Materials AG, Lear Corp., Polartec LLC, Schoeller Textil AG, SKAPS Industries Inc., Solvay SA, Toray Industries Inc., Unifi Inc., DuPont de Nemours Inc., Teijin Ltd., and Garware Technical Fibres Ltd. |
| 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, and 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. |