INDUSTRIAL FABRIC MARKET TO REACH USD 179.4 BILLION BY 2027 | CAGR 4.3% – FORENCIS RESEARCH

Industrial Fabric MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Industrial Fabric Market: Key Highlights

  • According to the new market research report Industrial FabricMarket by Fiber Type (Organic Pigment, Inorganic Pigment), by Type (Polyester, Polyamide, Aramid, Composite, Others), by Raw Material (Chemical, Wool, Cotton, Silk, Others), by Application (Automotive Carpet, Conveyor Belt, Transmission Belt, Protective Apparel, Flame Resistant Apparel, Others)by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global industrial fabricmarket is estimated to reach USD 1.2Billion by 2027 at a CAGR of around 4.3% during the review period.
  • Fabrics which is used for manufacturing parts of machines, structure and other various technical products are known asan industrial fabric.
  • Industrial fabrics can be produced from all types of textile threads and fibers, and are subjected to various wear n tear test than non-industrial fabrics. They are manufactured by interlacing multiple o single threads into cloth.
  • Properties offered by industrial fabrics are good elasticity, high strength, inexpensive production, durability, weather resistance, and low maintenance.

Industrial Fabric Market

Global Industrial Fabric Market: Key Market Dynamics

  • Increasing demand for industrial fabrics from the automotive industry in order to improve the performance of automotive parts has anticipated to drive the growth of the product market.
  • Rise in demand for industrial fabrics from filtration application has expected to surge the market growth during the forecasted period.
  • Stringent regulations imposed by various governing bodies in the entire ecosystem from sourcing to manufacturing stage may hinder the growth of the industrial fabric market.

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Global Industrial Fabric Market: Regional Overview

  • Europe

Europe is anticipated to witness prominent growth in industrial fabric market owing to the developed automotive industry. This is attributed by the presence of key automotive manufacturers such as Volkswagen, BMW Group, DAF Trucks, Daimler, , Iveco, Jaguar Land Rover, PSA Group, Renault Group, and amongst others. According to European Automotive Manufacturers Association (ACEA), 15.8 million passenger cars were manufactured in 2018. Moreover, the rising consumer demand for comfortable, reliable and stylish exterior and interior products in automotive vehicles has expected to surge the demand for the product market.

  • Asia-Pacific

The Asia-Pacific is anticipated to witness the largest growth in industrial fabric market during the forecasted period owing to the expansion in the automotive industry in emerging nations such as India, China, Japan, and South Korea. Moreover, owing to the foreign direct investment (FDI), the demand from various end-use industries such as automotive, consumer goods, aerospace, and others areexpected to rise considerably, and rapid industrialization has expected to surge the demand for industrial fabrics. For instance, according to the United Nations ESCAP, the developing economies in the Asia-Pacific received 45% of global FDI inflow in 2018.

Global Industrial Fabric Market: Key Players Overview

  • Ahlstrom-Munksjö:

Ahlstrom-Munksjö is Finland-based company, one of the leading player in sustainable and innovative fiber solution. The company offers a wide product range including filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials and solutions for diagnostics as well as a range of specialty papers for industrial and consumer end-uses. In Nov 2019, Ahlstrom-Munksjö launched TrustShield, a product portfolio of medical fabrics which will be used to provide protection against surgical lasers, chemicals, and chemotherapy drugs.

  • Forbo International SA:

Forbo International SA is one of the leading producers of floor covering, building & construction adhesives, power transmission, and conveyor belt solution. The company operates in two business segment namely flooring system, and movement system. Forbo International SA has a strong manufacturing base with 25 production sites and 48 sales organizations operating through more than 38 countries across the globe.

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Rep Id : CM 0125

Published : 2020-08-04

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