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Steady growth in technical textile visible for global textile companies

Related Keywords: boost demand for technical textiles, emerging economies, expected to grow, global textile consumption, growing environmental awareness, Meditech technical textiles, rapid industrialisation, robust demand from healthcare sector, Steady growth opportunities, technical textile market, visible for textile companies

Steady growth opportunities are visible for textile companies as the global textile consumption is expected to grow at a CAGR of 5.4% through 2020, indicating. The key factors anticipated to boost demand for technical textiles include steady growth of automotive sector, rapid industrialisation in emerging economies, robust demand from healthcare sector and even growing environmental awareness.

Tech textile given the scope in emerging economies likely to reach a level of $32 bn

Related Keywords: apparel sector, emerging economies, global partnership, Indian market, Indian Textile, non-woven, PHD Chamber of Commerce, range of product, supply chain, Technical textile

India’s technical textiles market that is at present projected to touch $14 billion given the scope in emerging economies, by vertically integrating supply chain, diversifying range of products towards non-woven technical textiles and forging global partnership with counterparts, can contribute to the growth of the industry. It may reach a level of $32 billion by 2023.
 
This based on the study conducted by PHD Chamber of Commerce which further states that textiles and apparel industry size would balloon to $226 billion by 2023.
 

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