Industrial Fabric Market by Fiber (Polyamide, Polyester, Aramid, Composite), Application (Conveyor Belts, Transmission Belts, Protective Apparel, Automotive Carpet, Flame Resistant Apparel), and Region - Global Forecast to 2023
The industrial fabric market is projected to register a CAGR of 4.9% from 2018 to 2023, in terms of value
The market size of industrial fabric is estimated at USD 120.94 billion in 2018 and is projected to reach USD 153.60 billion by 2023, at a CAGR of 4.9% between 2018 and 2023. Owing to their superior properties, industrial fabrics are increasingly used in various applications, such as conveyor belts, transmission belts, protective apparel, and flame resistant apparel, among others. The growth of the automotive industry has also helped increase their demand as industrial fabrics are widely used in the form of automotive carpet. Apart from this, the significant demand from the filtration application is one of the major opportunities for the industrial fabric market. However, stringent government regulations associated with the manufacturing of industrial fabric restrain the growth of the market.
The aramid fiber segment is projected to register the highest CAGR from 2018 to 2023, in terms of value
Aramid fibers are increasingly used in the industrial fabric market. These fibers possess high strength and rigidity and are resistant to heat and flame, making them useful in flame resistant apparel as well as protective apparel.
The industrial fabric market in APAC is projected to register the highest CAGR, between 2018 and 2023, in terms of value and volume
The industrial fabric market in APAC is projected to register the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increasing demand for industrial fabric from the region’s automotive and aerospace industries. Initiatives undertaken by various APAC countries toward automotive project investments are also contributing to the growth of the industrial fabric market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
By Company Type- Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
By Designation- C level - 50%, Director level - 10%, and Others - 40%
By Region- North America - 30%, Europe - 20%, APAC -25%, Middle East & Africa - 12%, and Latin America - 13%
This report provides a comprehensive analysis of the key companies listed below:
Forbo International SA (Switzerland)
Habasit AG (Switzerland)
Toray Industries Inc. (Japan)
ContiTech AG (Germany)
Cerex Advanced Fabrics, Inc. (US)
W. Barnet GmbH & Co. KG (Germany)
Johns Manville (US)
Fitesa SA (Brazil)
This report covers the industrial fabric market and forecasts the size of the market until 2023. The report includes the segmentation of the market based on application, fiber, and region. The Porter’s Five Forces analysis and key market dynamics, such as drivers, restraints, challenges, and opportunities influencing the growth of the industrial fabric market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the industrial fabric market in the following ways:
This report segments the industrial fabric market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the industrial fabric market.
This report is also expected to help stakeholders understand their competitors and gain insights to augment their position in the industrial fabric market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments, expansions, partnerships, and acquisitions.