TEXTILES.ORG
IFAI market research director Jeff Rasmussen told his audience at IFAI’s Expo 2018 in Dallas that the 8.8 percent growth in the advanced textiles market reported in 2017 will also be true of 2018. In his Advanced Textiles Market Update, Rasmussen pointed to the overlay between the smart fabrics and the advanced textile products (ATP) markets.
“The smart fabrics market has made more progress in the last two years than it has in the last fifteen years,” he said. The positive side of this is that the crossover effect supports growth for many of the market segments and subsegments within ATP. This is especially important in keeping industry momentum going when considering the length of time that it takes to meet government regulations and commercialize a product.
In a report prepared by Rasmussen, he identified five segments of the U.S. ATP market: smart fabrics, protective clothing, performance clothing, coatings and composites.By far the largest market segment in the U.S. ATP market for 2017 was performance clothing with a 72 percent share, with composites in second place but trailing at just 13 percent. Within these segments are various subgroups that cover specific industries and market areas. Within the subgroups, Sports and recreation is the fastest growing, but smart fabrics are the fastest growing among segments overall. The safety and protective market is also expected to see strong growth.
Competition from inexpensive imports, particularly from Asia, continues to restrict growth in U.S. ATP markets. Tariffs and trade disagreements could have a bigger impact, depending on how—much less if or when—these issues are resolved.
The Advanced Textiles Products Market Report is available to Industrial Fabrics Association International’s Advanced Textiles Products division members. Visit https://advancedtextiles.ifai.com to learn more.