Rising Demand for Improved 3D Knitting Technologies Spurring Sales of Knitted Fabrics – Fact.MR Analysis
According to Fact.MR’s report, knitted fabric sales will rise at nearly 5% CAGR of from 2021 to 2031, reaching almost US$ 40 Bn in revenue. Rising importance of knitted fabrics in the construction, vehicle, medical, and manufacturing sectors are major growth stimulants.
Historically, the market expanded at a CAGR of 4%, closing in at around US$ 24 Bn by the end of the 2016-2020 period. Advanced knitted fabrics with high compression strength, anti-tear, and flame-resistant properties have been developed as a result of technological advancements. Manufacturers’ productivity has risen as a result of the rapid use of 3D knitting machines.
The growing usage of high-tech medical textiles in healthcare applications is projected to open up a slew of new prospects for knitted fabric manufacturers. To improve the texture and flexibility of knitted materials, they are using new printing processes.
Key Takeaways from the Market Study
- By fabric type, warp-knitted fabrics to yield over 50% of market demand by 2031
- Automotive industry to remain dominant application area, growing at almost 5% CAGR
- U.S to emerge as a substantial market, expected to register a CAGR of around 4%
- Asia to be the maximum contributor to market demand, yielding almost 60% of overall sales
- Europe to account for over 80,000 kilotons of knitted fabrics production in volume terms
- India, China, Bangladesh, Indonesia and Thailand to be top 5 contributors to knitted fabrics demand
- Global market for knitted fabrics to expand 1.6x by 2031
“Rapid penetration of advanced technologies is prompting manufacturers to adopt sophisticated production techniques, including 3D printing, to improve output and spurring expansion prospects,” says an analyst at Fact.MR.
How is 3D Technology Spurring Sales of Knitted Fabrics?
Rising demand for improved 3D knitting technologies, automation, and artificial intelligence is rapidly penetrating the global textile industry. The need to enhance productivity is prompting manufacturers to adopt advanced production methods.
Significant developments have peppered the knitted fabrics domain in this regard. For instance, polymer specialists Polymaker and Covestro announced the release of their new jointly developed 3D printable fabrics in 2020. The companies have developed a whole new processing technology, in collaboration with two 3D printer manufacturers.
These printing approaches, according to Polymaker, are environmentally friendly alternatives to traditional weaving. Both companies claim it can help transform and upgrade 3D printed fabrics “from artwork to industrialization.”
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