Industrial Fabric Market is will show a steady growth during the forecast period
The report by Knowledge Sourcing Intelligence LLP, titled, “Industrial Fabric Market – Forecasts from 2018 to 2023” studies the global market for industrial fabrics, covering in-depth analysis of the market on the basis of type, end-user industry, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. The report has segmented the industrial fabric market by type (fiberglass, aramid, carbon, vinyl, others), end-user industry (automotive, construction, aerospace, transportation, others), and geography (North America, South America, Europe, Middle East and Africa, and Asia Pacific). Industrial fabrics are used for manufacturing parts of machines, structures, and various other technical articles. They serve a wide array of markets, from awnings to auto airbags as well as new base fabrics used in road construction, erosion control, and spoil containment in landfills. Burgeoning penetration of industrial fabrics in industries such as automotive and aerospace is boosting their demand in these industries. Growing construction activities across the globe are further augmenting the industrial fabrics market growth. The market is expected to grow at a steady pace owing to the growing technical textile market. According to the US Department of Commerce’s International Trade Administration (ITA), the global demand for US technical textile product increased by 4% annually through 2017.
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Carbon fabric holds a significant share in the market
Carbon fabric holds a significant share in the market as they are widely used to make higher-end tires. The increased focus of automakers such as BMW, Mercedes-Benz, Lamborghini, and others towards making vehicles lighter is driving the demand for carbon fibers.
The automotive industry holds a significant share in the market
The automotive industry holds a significant share in the market and it represents the most valuable world market for industrial textiles. Industrial fabrics are utilized in a broad range of applications in the automotive sector such as upholstery and seating, floor covering and trunk liners, as well as safety belts, airbags, hoses, tires and etc. Thus, the booming automotive industry in developing countries such as China, Japan, and India, among others will boost the demand for industrial fabric in this industry.
North America holds a significant share in the market
The North America industrial fabric market is estimated to hold a significant share in the global market in 2017, as it is the largest regional consumer of industrial fabric due to the presence of the majority of the end-user industries. The region is further anticipated to grow at a good CAGR during the forecast period on account of booming car manufacturing industry in countries such as Mexico.
Some of the major players discussed in the reports are Forbo International SA, Habasit, TORAY INDUSTRIES, INC., Cerex Advanced Fabrics, Inc., DuPont, W. Barnet GmbH & Co. KG, Johns Manville, and Fitesa.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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