The industrial fabric market is poised for substantial growth, with projections indicating an expansion from US$ 21.20 billion in 2024 to US$ 33.40 billion in 2034, boasting a Compound Annual Growth Rate (CAGR) of 4.60%. The report delves into key market segments such as cutting machine demand, vinyl fabric sales in India, filter bag manufacturing processes, wholesale pricing strategies, and the benefits of elastic fabric. Furthermore, it offers insights into prominent industrial fabric manufacturers and their respective market shares, providing comprehensive analysis for industry stakeholders to navigate the evolving landscape effectively.
The post-pandemic period has experienced a significant expansion of the construction and infrastructure development sector across the world. This is significantly fueling the demand for industrial fabrics for applications such as roofing, insulation, and reinforcement. Besides this, industrial fabrics are also experiencing increasing demand from factory units in the manufacturing sector. Conveyor belts, transmission belts, machine covers, and filtration systems made from durable fabrics facilitate the movement of materials and products along assembly lines in factories.
The automotive sector is also one of the major industries driving the demand for industrial fabrics. The expansion of this sector has led to an increased demand for lightweight materials that can improve fuel efficiency and performance. Apart from this, industrial fabrics are also in demand in the healthcare sector. The COVID-19 pandemic has highlighted the importance of specialized medical textiles used in products like surgical gowns, masks, and wipes.
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"Sustainability is a major concern in this industry. Companies in the industrial fabric market should embrace sustainability practices throughout their operations, from raw material sourcing to manufacturing processes and product disposal. This will not only enhance their brand image but also bring them new consumers who are worried about their environmental impact on the surroundings," says an Analyst at Future Market Insights, Inc.
Key Takeaways from the Market Study
The polyester segment dominates the industrial fabric market, accounting for a share of 4.50%.
On the basis of the application, the transmission belt segment leads the industrial fabric market, holding a share of 4.40%.
The industrial fabric market in the United States is anticipated to grow at a CAGR of 4.80% through 2034.
The industrial fabric market in China is estimated to rise at a 5.00% CAGR through 2034.
The industrial fabric market in Japan has the potential to increase at a 5.90% CAGR through 2034.
Competitive Landscape
The industrial fabrics market is highly competitive, with numerous companies catering to various industries worldwide. Major players in the market include Habasit AG, TORAY INDUSTRIES, INC, W.Barnet GmbH & Co. KG, Bridgestone Corporation, and Forbo International SA.
These companies invest heavily in research and development to come up with eco-friendly and sustainable fabrics to meet the demands of environmentally conscious consumers and businesses. Mergers and acquisitions are common in this industry as companies try to leverage each other's expertise and supply chain capabilities to gain a competitive edge.
Recent Developments
In November 2023, Hayleys Fabric PLC collaborated with Pro Green Laboratories to repurpose textile industry waste into sustainable construction materials. The partnership, inspired by research led by Professor Rangika U. Halwatura, was launched under the FaBriEco initiative, focusing on developing eco-friendly products for the local market.
In June 2023, Recover™, Rieter, and Polopiqué joined forces to address the textile industry's growing demand for high-quality, recycled fiber-enriched yarns. This pioneering collaboration resulted in the production of a sustainable garment unveiled at ITMA 2023 in Milan, featuring an impressive 40% recycled post-industrial fabric waste content.
In January 2024, Baltex significantly expanded its polyamide fabric manufacturing operations in Russia's Saratov region, investing over 800 million rubles. The expansion project, initiated in 2023 with modernization and equipment installation, received state support. Baltex aims to increase production capacity by 50% with further upgrades.
Key Market Segmentation
By Fiber Type:
Polyester
Aramid
Polyamide
Composite
Others
By Applications:
Transmission Belt
Protective Apparel
Conveyor Belt
Automotive Carpet
Flame Resistance Apparel
Others
By Region:
North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe