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.
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Top Companies: 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.
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.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Industrial Fabrics market is segmented into:
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:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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