In 2018, the EU technical textile market reached US $ 1.6 billion. This figure reflects the total income of producers and importers. The IndexBox report on - Textile Products And Articles For Technical Use - Market Analysis, Forecast, Size, Trends and Insights' shows that overall consumption of technical textile continues to show a slight decline. The growth rate was most pronounced in 2016 when market value increased by 6.6% yoy.
During the period reviewed, the technical textile market reached a maximum of $ 1.9 billion in 2007; however, from 2008 to 2018, consumption is at a lower rate.
Driven by the increasing demand for technical textiles in the European Union, the market is expected to continue the upward trend in consumption over the next seven years.
Market performance is expected to slow, expand with an anticipated CAGR of + 0.2% for the seven-year period from 2018 to 2025, which is projected to bring market volume to 121 thousand tonnes by the end of 2025.
In 2018, technical textile production in the European Union reached 140 thousand tons, down -3.2% compared to the previous year. The total volume of output increased at an annual average rate of + 1.9% over the 2007-2018 period; however, the trend pattern shows some of the fluctuations seen in certain years.
This growth rate was the fastest in 2009 with an increase of 15% compared to the previous year. Production volume of technical textiles peaked at 161 thousand tons in 2011; However, from 2012 to 2018, production has remained at a lower rate.
In terms of value, technical textile production reached $ 1.9 billion in 2018 which is estimated in export prices. Overall, technical textile production, however, continues to show mild reductions. The most prominent growth rate was recorded in 2016 with an increase of 3.8% y-o-y. The level of technical textile production peaked at $ 2.3 billion in 2007; However, from 2008 to 2018, production failed to regain momentum.
In 2018, the EU imported 116 thousand tons of technical textiles, down -2.9% compared to the previous year. The total volume of imports increased at an annual average rate of + 1.0% from 2007 to 2018; trend patterns are relatively stable, with only small fluctuations observed in certain years.
The growth rate was fastest in 2010 when imports increased by 19% y-o-y. Import volume peaked at 120 thousand tons in 2016; however, from 2017 to 2018, imports were at a lower rate.
In terms of value, imports of technical textiles totaled $ 2.1 billion (IndexBox estimate) in 2018. Total import value increased at an average annual rate of + 1.2% over the 2007 to 2018 period; trend patterns remain consistent, with quite marked fluctuations in certain years.
The growth rate was most prominent in 2011 with an increase of 16% y-o-y. During the review period, imports of technical textiles reached their maximum in 2018 and are expected to maintain their growth in the near future.