Indian technical textiles market is expected to grow at a rapid 7.6 per cent in the Asia Pacific region to reach $23.3 billion in 2027, says a report by KPMG-FICCI. As per the Hindu Business Line, this growth will be supported by increasing awareness about the products, higher disposable incomes, changing consumer trends besides some sector-specific growth drivers.

Numerous factors such as developing end-user sectors, rising awareness, government initiatives, regulations, standardisations, technology upgradation among others are expected to drive considerable growth of domestic technical textiles in coming years.

The domestic technical textile market for synthetic polymer was valued at $7.1 billion in 2020 and is projected to reach $11.6 billion by 2027, growing at a CAGR of 7.2 per cent, while technical textile market for wovens is expected to grow at a CAGR of 7.4 per cent to $15.7 billion by 2027, up from $9.5 billion in 2020.

Technical textile market for MobilTech (automotive textiles) is expected to grow to $3.7 billion by 2027 from $2.4 billion in 2020. Similarly, the market for InduTech (industrial textiles) would grow at a CAGR of 8 per cent from $2 billion in 2020 to reach $3.3 billion by 2027.

Several government initiatives are supporting the growth of the segment. National Technical Textiles Mission (NTTM), from 2020-21 and 2023-24 at an outlay of ₹1,480 crore is expected to help Indian players compete with international players.

Production Linked Incentive (PLI) scheme in textiles sector with focus on MMF segment and technical textiles, will augment scale/capacities in technical textiles sector.

Also, the proposal to set up seven mega investment textiles parks over the next three years to give domestic manufacturers a level-playing field in the international textiles market.