The global industrial fabrics market size is projected to reach USD 209.48 billionby 2028, exhibiting a CAGR of 6.3%during the forecast period. According to a report by Fortune Business Insights™, titled “Industrial Fabrics Market, 2021-2028”, the value of this market was estimated to be USD 128.39 billionin 2020.
The COVID-19 pandemic has been found to have impacted the industrial fabrics market growth negatively as the strict lockdown restrictions and social distancing measures forced major vehicle manufacturers to shut down their operations. Tata Motors, for instance, closed its factory in Pune temporarily to abide by lockdown regulations. Similar closures were witnessed across Europe and the US. As a consequence, this market’s growth rate dropped by 0.66% in 2020 and its value is forecasted to reach USD 136.55 billionin 2021.
DuPont Introduces New Range of Fabric Solutions for Core Industries
In December 2019, DuPont Personal Protection rolled out the Nomex® global lineup of industrial fabric solutions engineered exclusively for utilities, oil & gas, and various manufacturing industries in Asia Pacific. Designed to protect workers in these hazardous settings with flame-retardant and arc-rated apparel, the fabrics deliver high durability and comfort, which are widely coveted PPE properties by the workforce in these domains. The other purpose behind the launch of this portfolio by DuPont is to provide streamlined personal protective equipment (PPE) solutions for safety managers across industries. This will also enable companies to easily procure standardized PPE textiles and order customized fabrics for their workforce.
Distinct Advantages of Geosynthetics to Help Market Growth
Geosynthetics are industrial fabrics that comprise at least one natural fiber or polymer that is transformed into sheets or 3-dimensional structures. These fabrics are widely applied in civil engineering projects, primarily in the construction of roads and buildings. Their extensive demand in infrastructure development is premised on the broad range of advantages they offer compared to conventional materials. For example, geosynthetic sheets havehigh flexibility that allows them to fit in any space inlandfill, while taking up minimum space. Geotextiles also carry substantial economic and environmental benefits as well. For example, geosynthetic fabrics are far less expensive to procure, transport, and install compared to soils and fully synthetic materials. Moreover, since these textiles have a healthy proportion of natural ingredients, they can improve soil quality and not harm the underlying soil fragments. Given these proven advantages of geosynthetic fabrics, their adoption in construction works is likely to exponentially expand in the forthcoming years.
Automotive Segment Leads the Market with a Share of 28.5%
In terms of application, this market has been segregated into conveyor belts, transmission belts, protective apparel, automotive, flame-resistant apparel, and others. Here, the automotive segment commanded a share of 28.5% in the global market and a share of 28.3% in the US market. This is primarily attributable to the huge demand for naturally-derived industrial fabrics for auto interiors and component-protection applications, which is stoking market players and research organizations to develop biodegradable textiles for the auto industry. For example, the University of Portsmouth, UK, is formulating a material from flax that will effectively protect vehicle engines.
By fiber type, the market is categorized into polyamide, polyester, aramid composites, and others. Geographically, this market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific to Hold Commanding Market Share from 2021 to 2028, predicts Fortune Business Insights
- Boasting a market size of USD 45.32 billionin 2020, Asia Pacific is slated to command the industrial fabrics market share during the forecast period. The principal driver for the Asia Pacific market is the abundant availability of raw materials across India and China and the technological superiority of Japan and South Korea in chemical manufacturing.
- On the other hand, the market in North America is expected to be characterized by the increasing deployment of geotextiles for geotechnical engineering and soil reinforcement applications.
- In Latin America, the soaring demand for protective apparel from the region’s developing mining sector will enhance the market’s growth prospects in the region.
- Prominent Players to Concentrate on Optimization of Production Operations
- Key players in this market are aligning their strategies to efficiently cater to the rising demand for industrial fabrics across multiple sectors. To achieve this, several companies are strategically optimizing their production activities to minimize costs and maximize profits. In addition, companies are also capitalizing on opportunities to establish their footprint in developing economies.
- Industry Development
- December 2018: Toray Industries announced its new policy under which the company will integrate the management of Luckytex Public Company Limited and Thai Toray Textile Mills Public Company Limited, its textile manufacturing facilities in Thailand.
- List of Key Players Profiled in this Market Report
- Forbo International SA
- Ahlstrom Munksjö
- Bridgestone Corporation (Tokyo, Japan)
- Cerex Advanced Fabrics Inc. (Florida, United States)
- ContiTech AG (Hanover, Germany)
- DuPont (Michigan, U.S)
- G.R.Henderson Co. Textiles Ltd. (Stockport, UK)
- Fitesa (Peine,Germany)
- Barnet Gmbh& Co. Kg (Achen, Germany)
- Freudenberg & Co. Kg (Weinhiem, Germany)
- Toray Industries Inc. (Tokyo, Japan)
- Johns Manville (Colorado, U.S)
- Habasit AG (Reinach, Switzerland)
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/industrial-fabrics-market-105445
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