Industrial Fabrics Market worth USD 192.86 billion by 2028, registering a CAGR of 8.7% - Report by Market Research Future (MRFR)

New York, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Industrial Fabrics Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Industrial Fabrics Market Research Report, Fiber Type, Application and Region - Forecast till 2028” the market size is projected to be worth USD 192.86 billion by 2028, registering a CAGR of 8.7% during the forecast period (2021 - 2028)., The market was valued at USD 110.35 billion in 2021.

Market Competitive Landscape:

The key players of the global industrial fabrics market are listed as follows:

• Forbo International SA (Switzerland)

• Habasit (Switzerland)

• ContiTech AG (Germany)

• W. Barnet GmbH & Co. KG (Germany)

• Johns Manville (US)

• Ahlstrom-Munksjö (Finland)

• TORAY INDUSTRIES, INC. (Japan)

• Cerex Advanced Fabrics, Inc. (US)

• DowDuPont (US), among others.

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Market Scope:

Industrial fabrics are created and engineered for use in non-textile industries' goods, processes, and services. These fabrics have excellent strength, endurance, low production costs, good elasticity, low maintenance, and weather resistance. Tents, awnings, graphic banners, and roofing are just a few of the applications for industrial fabrics. Some of these fabrics are also utilized in automobiles. Another key driver of industrial fabrics is their application in the production of geotextiles. Geotextiles are utilized for a variety of purposes, including separation, stability, reinforcement, filtration, and moisture barriers. As a result of urbanization, the increasing number of manufacturers impact the market for such fabrics. With growing industries and a higher disposable income of the citizens across the globe, the automotive segment is seeing growth, which is therefore aiding the growth of the industrial fabrics market value.

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Market USP Covered:

Drivers:

The global industrial fabric material market is primarily driven by factors such as the improving performance of features supplied by industrial fabric and the numerous industrial fabric applications in the automotive industry. Due to these features are ideal for interior fabrics, carpet backing, airbags, interior fabrics, seat cover fabrics, roofing, belts, hoses, door trims, window frames, door panels, and headliners in the automobile sector. Furthermore, the stain resilience and longer service life of industrial fabric make it an excellent choice for various applications in the automobile industry. Furthermore, the increased use of aramid fibers in protective and fire-resistant clothing is fueling the growth of the aramid fiber segment of the global advanced texture market. The expanding demand and popularity of the construction sector would greatly enhance the market for such fabrics.

Restraints:

The main factor hindering the industrial fabric market growth is severe government restrictions in various countries. The industrial fabric market is facing significant difficulty in meeting severe government regulations. Synthetic fabric is challenging to decompose compared to natural fiber fabric, which is environmentally sustainable and biodegradable. Furthermore, lowering the cost of industrial fabric is a significant problem for industrial fabric producers.

COVID-19 Analysis:

Due to the COVID-19 contagion, the industrial fabric market size has experienced a slight decline in 2020. This virus outbreak has had a negative impact on the entire world, particularly in North America and Europe. Companies had shut down their operations and production facilities to prevent the virus from spreading further. As a result, usage of industrial fabrics had decreased in the chemical, automotive, mining, aerospace & defense, and other industries.

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Market Segmentation:

The segmentation of the global industrial fabrics market is done by fiber type and application.
By fiber type, the aramid segment is the most widely deployed in the market due to its excellent physical properties that define its overall sustainability.
By application, the automotive segment holds the highest industrial fabric market share in the world.

Regional Insights:

The global industrial fabrics market is divided into five regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.

Due to the region's high vehicle production and sales, Asia-Pacific had the highest industrial fabrics market value in 2017. Furthermore, the construction sector is expanding due to fast industrialization and urbanization in emerging nations such as India, Thailand, Malaysia, and Singapore, which is boosting market demand.

The European market is supported by growing manufacturing and sales of vehicle parts in Western European countries such as Germany, Italy, the United Kingdom, and France due to the region's significant need for sustainable construction.

Segmentation of Market covered in the research:

Industrial Fabrics Market Global Information by Fiber Type (Polyamide, Polyester, Aramid, Composite), Application (Automotive Carpet, Conveyor Belts, Transmission Belts, Protective Apparel, Flame Resistant Apparel, Filter Media) and Region Forecast till 2028


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