The increasing demand for industrial fabrics in the automotive industry owing to the rise in demand for consumers and growth in population and urbanization are propelling the market growth.
industrial fabric Market Size – USD 108.21 Billion in 2020, Growth - CAGR of 8.1%, Trends – The advent of cheap industrial fabrics.
The global Industrial Fabric Market is forecast to reach USD 202.77 Billion by 2028, according to a new report by Reports and Data. These fabrics are unique materials that are used in aerospace, and automotive industries for various purposes such as for making conveyor belt, flame-resistant apparel, protective apparel, automotive carpets, and many others.
The market for such fabrics is influenced by the rising industries due to urbanization. The rising applications conveyor belt, and protective apparel are booming the market for such fabrics. The automotive sector is depended on this market for manufacturing of carpets, seat belts, seat coverings, and many others. The cost price of the raw materials continuously fluctuates, and strict government regulations are creating a market restraint.
The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of non-apparel fabrics manufacturing add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the market of fabrics used for industrial purposes owing to innovative efforts have improved the efficiency of fabrics.
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Further key findings from the report suggest
- Automotive and transportation industries held the largest market share of 37.3% in the year 2018. Industrial purpose fabric products are used in the manufacturing of seat covers, seat belts, and carpets of vehicles. The products of this market have high affinity, high strength, controlled deformation, and abrasion resistance.
- The polyester segment is forecasted to witness the highest CAGR of 5.8% during the forecast period. This segment is rising since this material has good elasticity, high durability, quick-drying property, high resistance, high strength, and many others.
- Automotive carpet segment held the largest market share of 29.5% in the year 2018. China became the largest consumer of this segment owing to the ever-growing construction and automotive industry along with the aerospace industry in this region because of the growing urbanization and industrialization. China became a leader in the world for production and consumption of industrial fabric products because of its low-cost labor, and the rise in urbanization with an expanding economy compared with other countries.
- Asia Pacific is expected to witness the highest CAGR of 6.3% during the forecast period. Countries like India, China, Taiwan, Indonesia, and Japan are rapidly catching up with the growth in the industrial fabric market. The countries in this region have undertaken various measures towards the automotive project, which is propelling the market growth.
- Key participants Habasit, Dupont, Forbo International SA, Cerex Advanced Fabrics, Inc., Toray Industries, Inc., Freudenberg Co. Kg, Bridgestone Corporation, Johns Manville, Barnet Gmbh Co. Kg, and Fitesa, among others.
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Market Segmnetation:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Conveyor Belts
- Transmission Belts
- Protective Apparel
- Automotive Carpet
- Flame Resistant Apparels
- Others
Fiber Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Polyamide
- Polyester
- Aramid
- Composite
- Others
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Automotive Transportation
- Construction
- Aerospace
- Others
Regional Outlook:
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Industrial Fabrics Market report:
- What is the expected market size of the global Industrial Fabrics Market during the forecast period?
- What factors are expected to hamper global Industrial Fabrics Market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Industrial Fabrics Market?
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