Statistics: forecasts of production and consumption of technical textiles in India, 2024

Statistics: forecasts of production and consumption of technical textiles in India, 2024

This report includes statistical data and analysis of production and consumption of technical textiles in India over the five-year period between 2019/20 and 2024/25, and it provides breakdowns by sector and leading product group. Production and consumption of technical textiles in India is forecast to grow significantly between 2019/20 and 2024/25. Furthermore, consumption is predicted to grow faster than global consumption of technical textiles over the five-year period. Moreover, consumption of technical textiles in India will remain higher than production and India will have to rely on imports to make up the shortfall. However, the presence of a shortfall suggests that there will be an opportunity for manufacturers of technical textiles in India to increase production at an even faster rate than the current rate of expansion and find a ready market for their additional output. The largest technical textile end use sector in India in terms of consumption in 2024/25 is forecast to be that of packaging and storage, followed by filtration and other products used in industry. Third in importance will be that of transportation construction, equipment and furnishing, followed by: components of furniture and floor coverings; hygiene and medical; and functional components of shoes and clothing. The fastest growing technical textile end use sector in India, however, will be that of geotextiles and civil engineering. Looking further ahead, there is strong potential for growth in technical textiles in India over the long term. Domestic demand is expected to increase significantly as disposable incomes grow, and as producers turn to high added value items rather than commodity products. In addition, there will be opportunities for strong growth in production in several of the smaller end use sectors, particularly in export markets. In recognition of the potential which the market holds, a number of large international technical textile companies have set up manufacturing plants in India in recent years and this is set to continue. Consequently, India’s capacity for producing technical textiles will continue to increase.