Examination of R&D Capacity in the Technical Textile Sector: A Regio-Global Case Study

Abstract

As a well-established industry in many countries, textiles and composites have a substantial influence on global economies. Sustainability, innovation, product quality, production costs, and technology are just a few of the factors that impact the level of competition in this sector. Converting these inputs into value-added products is a key driver of industry expansion. In the textile and composites industry, production cost is an important factor in competitiveness. Production costs can be reduced by increasing efficiency, minimizing waste, and streamlining the supply chain, since the sector requires a lot of people. Another crucial element is technology, which enables the production of high-quality goods with enhanced performance and functionality. Businesses can't stay competitive without innovation, which helps them differentiate their products from competitors' and meet changing customer needs. Because of the growing demand for eco-friendly products, sustainability has emerged as an essential feature. Sustainable practices allow businesses to save money, increase output, and appeal to environmentally conscious consumers. Adding value to textiles and composites using these competitiveness traits is key to the industry's continued growth and prosperity. The unique qualities, capabilities, and benefits that value-added goods provide set them apart from commodity items. Consequently, companies are able to increase their pricing and generate larger profits.