Pune, India., April 20, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Multiaxial Woven Fabrics Market Size Report, Growth Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Geography,” the multiaxial woven fabrics market size is expected to grow from US$ 1,089.17 million in 2022 to US$ 1,469.01 million by 2028; it is estimated to record a CAGR of 5.1% from 2022 to 2028. The market growth is attributed to the strong growth of composites industry and surging use of multiaxial woven fabrics in the aerospace industry.
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In 2022, Europe held the largest share of the global multiaxial woven fabrics market. The wind energy industry plays an important role in Germany's energy transition. According to the Germany Trade & Invest, Germany is Europe’s leading wind energy market, with more than 63 GW of total capacity. The growing wind energy sector in the country is creating the demand for multiaxial woven fabrics. Further, the aerospace industry is growing rapidly in the country with the growing number of aircrafts produced. Companies active in the German aerospace industry are investing heavily in research and development. The aerospace industry is one of the most important manufacturing industries as well as the largest exporting industry in France. Multiaxial woven fabrics are highly used in the aerospace industry. Hence, the strong presence of the aerospace industry in Europe mainly drives the demand for multiaxial woven fabrics.
Growing Focus of Manufacturers on Adopting Different Strategies to Drive Multiaxial Woven Fabrics Market Growth During Forecast Period:
Players operating in the multiaxial woven fabrics market are adopting various growth strategies such as research & development investments, partnerships, and mergers & acquisitions. In July 2019, SAERTEX acquired 100 % shares in the Bavarian company TK Industries GmbH. With the acquisition, SAERTEX has expanded its range of heavy-tow carbon fiber multiaxial woven fabrics. Moreover, in April 2022, SAERTEX and Terre de Lin collaborated to develop multiaxial woven fabrics with flax fibers for the marine and sports & leisure segments. The adoption of different growth strategies helps players stand out as strong competitors in the market. Therefore, the growing focus of manufacturers on adopting different strategies is expected to boost the multiaxial woven fabrics market growth during the forecast period.
Global Multiaxial Woven Fabrics Market: Segmental Overview
Based on type, the multiaxial woven fabrics market is segmented into bidirectional fabrics, triaxial fabrics, quadraxial fabrics, and others. The triaxial fabrics segment is expected to register the highest CAGR during the forecast period. Triaxial fabrics are made of continuous and interwoven strips of composite material with longitudinal fibers in three directions at 0°, –60°, and +60°. The triaxial fabric has more isotropic responses to tensile and shear deformation than the biaxial woven fabrics. Additionally, the triaxial woven fabric can maintain structural integrity. Therefore, these fabrics are extensively used in industrial applications as a reinforcement for composite materials.
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Based on application, the multiaxial woven fabrics market is segmented into construction, industrial, military, consumer goods, and others. The military segment is expected to register the highest CAGR during the forecast period. Multiaxial woven fabrics are used for structures ranging from military aircraft to helicopters and military vehicles where materials with lightweight and high strength are necessary to increase efficiency and performance. These items are mainly used for military, homeland security, and civilian use. There is an increasing need to improve the wearability and overall effectiveness of the protection system used by soldiers and police officers in combat.
Impact of COVID-19 Pandemic on Multiaxial Woven Fabrics Market:
The COVID-19 pandemic severely impacted various economies across the world. The pandemic significantly hampered the multiaxial woven fabrics market growth due to its adverse effects on the growth of building & construction, automotive, aerospace, sporting goods, and other industries. The shortage of manpower resulted in the deceleration of advanced composites production and distribution operations, which subsequently affected the building & construction and other end use sectors worldwide. Disruptions in the global supply chain and the shutdown of automotive, aerospace & defense, and construction materials’ production facilities hampered the demand for multiaxial woven fabrics. In Europe, the automotive industry experienced a slowdown due to the lack of supply of various automotive parts and low demand for vehicles. This has negatively impacted the demand for multiaxial woven fabrics. However, several industries such as construction and automotive, regained momentum by the end of 2021 due to the resolution of the supply constraints. Hence, the demand for multiaxial woven fabrics increased across the world.
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Global Multiaxial Woven Fabrics Market: Competition Landscape and Key Developments
3D Weaving SaRL, Sigmatex (UK) Ltd, Textum OPCO LLC, Cristex Composite Materials Ltd, Biteam AB, Albany International Corp, Tantra Composite Technologies Pvt Ltd, Parabeam BV, Halarit Composites GmbH, and SGL Carbon SE are a few of the key players operating in the multiaxial woven fabrics market. These companies have a wide presence across the world, which allows them to serve many customers.
In 2021, Teijin established carbon fiber products operations in Vietnam.
In 2020, Sigmatex (UK) Ltd launched recycled carbon fiber nonwoven fabric.
In 2020, Sigmatex and Hypetex partnered to launch exclusive colored carbon fiber solutions.
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