Global Industrial Fabric Market Overview
The key driver impacting the industrial fabric market is the rising use of industrial fabric in the growing automotive industry. There is high utilization of industrial fabrics in the form of belts, carpets, seat covers, roof, and door liners in the automotive end-use industry. The expanding automotive sector is likely to create massive demand for industrial fabrics in the forecast period. For instance, As per Crescendo Worldwide Organization, the global automobile production was estimated as 92 MN Vehicles in 2019, and it is anticipated to grow by a CAGR of 20.78% by 2028, and it is estimated to reach $ 9 trillion by 2030. According to the International Organization of Motor vehicle manufacturers (OICA), in 2019, sales of passenger cars enhanced by about 5% and reached 69.5 million units. Moreover, the increasing application in conveyor belts contributes to the need for industrial fabric products in the coming years. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global industrial fabric market size was valued at around USD 107.5 billion in 2020 and is estimated to grow at a CAGR of about 8.5% during the forecast period 2021 to 2027.
The growing demand due to the excellent properties offered by industrial fabric is estimated to augment industrial fabric needs in the forecast period. For example, Industrial fabrics present various useful properties such as high abrasion resistance, good elasticity, high durability, high strength, and quick drying. However, the stringent regulations about industrial fabrics and increased demand for bio-based fabrics may hamper the market in the long run. Also, the fluctuation in raw material cost and reducing industrial activities due to COVID-19 negatively impact the market. The current industry trends, such as prospective growth in the filtration application, are likely to provide market players with new market opportunities.
The industrial fabric market is vast, with many local and global players. The industrial fabric market is extensive, with many international and regional players. The key market leaders follow several strategies to increase their market statuses, such as extending product portfolio, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report are Ahlstrom-Munksjö, Forbo International SA, Fitesa S.A., Habasit AGG.R.Henderson Co. Textiles Ltd., Johns Manville, Berry GlobalInc., Toray Industries, Inc., Contitech AG, Berry GlobalInc., Cerex Advanced Fabrics, Inc., Dowdupont, Russett Holdings, W. Barnet GmbH & Co. Kg, Beaulieu Technical Textiles, Bridgestone Corporation, he Yokohama Rubber Co., Ltd., CBC India, Freudenberg & Co. Kg, Zenith Rubber, Kimberly-Clark Corporation, Parishudh Fibres Pvt. Ltd., Wovlene Tec Fab India, Sage Automotive Interiors, Inc., and ACME Mills.
In this research report, the industrial fabric market is segmented by fiber type, application, and region.
Analysis by Fiber Type
By fiber type, the report is categorized into polyester, polyamide, aramid, composites, and others. Polyester dominates the fiber type segment with over 25% share in 2020. It is due to the high demand for polyester fibers; it possesses properties such as good UV and abrasion resistance, good tearing strength, and ease of cleaning. Moreover, it is less expensive and easy to clean than other fabrics contributing to the high market demand for polyester fibers in the forecast period.
Analysis by Application:
By application, the report is categorized into the conveyor belt, transmission belt, protective apparel, automotive carpet, flame resistance apparel, and others. Conveyor belts dominate the application segment with over 30% share in 2020. It is due to the high application of conveyor belts in manufacturing industries, pharmaceuticals, food-producing industries, packaging industries, categorizing and gathering materials.
Analysis by Region:
In the regional outlook of the global Industrial fabric market, the North America region dominates globally with a 30% market share in the forecast period. It is due to the high demand for protective apparel and automotive carpet applications and early technology adoption in the countries of North America. Moreover, the technological advancements in the development of advanced interior trims and the U.S.'s growing automotive sector contribute to market growth across North America.
Market Segmentation covered in the Report:
By Fiber Type
- Conveyor Belt
- Transmission Belt
- Protective Apparel
- Automotive Carpet
- Flame Resistance Apparel
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.