The global industrial fabricsmarket size isprojected to reach USD 209.48 billionby 2028, exhibiting a CAGR of 6.3%duringthe 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 128.39billionin 2020.
The COVID-19pandemic has been found to have impacted the industrial fabrics market growthnegatively as the strict lockdown restrictions and social distancing measuresforced major vehicle manufacturers to shut down their operations. Tata Motors,for instance, closed its factory in Pune temporarily to abide by lockdownregulations. Similar closures were witnessed across Europe and the US. As aconsequence, this market’s growth rate dropped by 0.66% in 2020 and its value is forecasted to reach USD 136.55billionin 2021.
DuPont Introduces New Range of Fabric Solutions for Core Industries
In December 2019,DuPont Personal Protection rolled out the Nomex® global lineupof industrial fabric solutions engineered exclusively for utilities, oil& gas, and various manufacturing industries in Asia Pacific. Designed toprotect workers in these hazardous settings with flame-retardant and arc-ratedapparel, the fabrics deliver high durability and comfort, which are widelycoveted PPE properties by the workforce in these domains. The other purposebehind the launch of this portfolio by DuPont is to provide streamlinedpersonal protective equipment (PPE) solutions for safety managers acrossindustries. This will also enable companies to easily procure standardized PPEtextiles and order customized fabrics for their workforce.
Distinct Advantages of Geosynthetics to Help Market Growth
Geosynthetics areindustrial fabrics that comprise at least one natural fiber or polymer that istransformed into sheets or 3-dimensional structures. These fabrics are widelyapplied in civil engineering projects, primarily in the construction of roadsand buildings. Their extensive demand in infrastructure development is premisedon the broad range of advantages they offer compared to conventional materials.For example, geosynthetic sheets havehigh flexibility that allows them to fitin any space inlandfill, while taking up minimum space. Geotextiles also carrysubstantial economic and environmental benefits as well. For example, geosyntheticfabrics are far less expensive to procure, transport, and install compared tosoils and fully synthetic materials. Moreover, since these textiles have ahealthy proportion of natural ingredients, they can improve soil quality andnot harm the underlying soil fragments. Given these proven advantages ofgeosynthetic fabrics, their adoption in construction works is likely toexponentially expand in the forthcoming years.
Automotive Segment Leads the Market with a Share of 28.5%
In terms ofapplication, this market has been segregated into conveyor belts, transmissionbelts, 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 hugedemand for naturally-derived industrial fabrics for auto interiors andcomponent-protection applications, which is stoking market players and researchorganizations to develop biodegradable textiles for the auto industry. Forexample, the University of Portsmouth, UK, is formulating a material from flax thatwill effectively protect vehicle engines.
By fiber type, themarket is categorized into polyamide, polyester, aramid composites, and others.Geographically, this market is clubbed into North America, Europe, AsiaPacific, 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 isslated to command the industrial fabrics market share during the forecastperiod. The principal driver for the Asia Pacific market is the abundantavailability of raw materials across India and China and the technologicalsuperiority of Japan and South Korea in chemical manufacturing.
· On the other hand, the market in North America is expected to becharacterized by the increasing deployment of geotextiles for geotechnicalengineering and soil reinforcement applications.
· In Latin America, the soaring demand for protective apparel from theregion’s developing mining sector will enhance the market’s growth prospects inthe region.
Prominent Players to Concentrate on Optimization of Production Operations
Key players in thismarket are aligning their strategies to efficiently cater to the rising demandfor industrial fabrics across multiple sectors. To achieve this, severalcompanies are strategically optimizing their production activities to minimizecosts and maximize profits. In addition, companies are also capitalizing onopportunities to establish their footprint in developing economies.
Industry Development
· December 2018: Toray Industriesannounced its new policy under which the company will integrate the managementof Luckytex Public Company Limited and Thai Toray Textile Mills Public CompanyLimited, its textile manufacturing facilities in Thailand.
List of Key Players Profiled in this MarketReport
· 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)
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BrowseSummary of This Research:
https://www.fortunebusinessinsights.com/industrial-fabrics-market-105445
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