New York, Nov. 05, 2019 (GLOBE NEWSWIRE) -- 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.
The global industrial fabric market is forecast to reach USD 178.99 Billion by 2026, 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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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.
In the Asia Pacific region due to the sudden rise in population and rapid urbanization, the market for such fabrics is propelling at a swift rate. The rising economy in counties like China and Japan due to favorable political, social, and economic conditions are helping the market to grow. Construction, transportation and automotive industries of the APAC region are using these fabrics for the production of belts and automotive carpets used in vehicles. China is the highest manufacturer and consumer of such fabrics.
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.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/industrial-fabrics-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Industrial Fabrics market on the basis of fiber type, application, end-users and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Conveyor Belts
- Transmission Belts
- Protective Apparel
- Automotive Carpet
- Flame Resistant Apparels
- Others
Fiber Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Polyamide
- Polyester
- Aramid
- Composite
- Others
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Automotive & Transportation
- Construction
- Aerospace
- Others
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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