Press release
Industrial Fabric Market worth $162.9 billion by 2025 | Key players Forbo International SA (Switzerland), Ahlstrom-Munksjo (Finland), Habasit AG (Switzerland).
Industrial Fabric Market, Industrial Fabric, APAC Industrial Fabric Market, Europe Industrial Fabric Market, Fabric Market, Fabric
Browse 130 market data Tables and 43 Figures spread through 151 Pages and in-depth TOC on "Industrial Fabric Market - Global Forecast to 2025"
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The polyester resin-based industrial fabric s accounted for a larger share in the industrial fabric market. Polyester resins are less expensive and possess properties such as good corrosion resistance, fast curing, durability, tolerance to temperature, and low thermal expansion. The automotive industry is one of the major consumers of polyester industrial fabric as this fabric offers good UV and abrasion resistance, good tearing strength, and ease of cleaning. Toray, W. Barnet GmbH & Co. KG, and Johns Manville are some of the prominent polyester industrial fabric manufacturers.
The COVID-19 has resulted in reduced demand for vehicles in 2020. This has led to a temporary shutdown of various automobile manufacturing plants of Nissan, Volkswagen, and Ford. These factors are expected to reduce the demand for industrial fabric in automotive applications. Post-pandemic, the demand for polyester industrial fabric is expected to recover as industrial activities across the globe are expected to start, which will increase the consumption of polyester fabric.
Automotive carpet is the largest application of industrial fabric. Polyester is a major fiber used in the production of automotive carpets. Industrial fabric offers excellent durability, high abrasion resistance, quick dyeing, and stain resistance. Some of the prominent automotive manufacturers such as Nissan, Toyota, and Lexus use automotive carpet manufactured by Dow DuPont under the brand Sorona. The demand for industrial fabrics from automotive carpet applications is expected to decline in 2020 due to lower sales of new vehicles in the first half of 2020. Also, major manufacturers temporarily closed their plants during the lockdown. The demand is expected to recover after the COVID-19 pandemic is under control.
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APAC accounts for the biggest share of the global industrial fabric market. The Protective Apparel and automotive carpet application holds are major consumers in the region. The region is home to some of the major composite manufacturers such as ACP Composites and Owens Corning. Moreover, the China is a manufacturing hub of various commercial, military, private aircraft and one of the major automobiles manufacturers. Europe is the second major consumer of industrial fabric s. Marine, wind energy, and transportation are the major industries fueling the growth of the industrial fabric market in this region.
However, the COVID-19 outbreak has affected the demand for industrial fabric s in the region. On the positive side, support packages offered by governments of various countries will help to maintain the liquidity in industrial fabric market. Such initiatives coupled with recovery in the application industries will increase the demand for industrial fabric in North America.
The key players in the industrial fabric market include Forbo International SA (Switzerland), Ahlstrom-Munksjo (Finland), Habasit AG (Switzerland), Toray Industries Inc. (Japan), and ContiTech AG (Germany) are a few of the key players in the industrial fabric market. W. Barnet GmbH & Co. Kg (US), Dupont (US), Johns Manville (India), Fitesa S.A. (Brazil), and G.R. Henderson Co. Textiles Ltd. (UK), and among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composites market. These players have taken different organic and inorganic developmental strategies over the past five years.
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Habasit AG is one of the prime players in the industrial fabric market. The company is a prominent supplier of belting solutions to various industries, such as food, textile, automotive, packaging, business machines, wood, and printing & paper. The company is highly focused on the new product development strategy. For instance, in April 2018, the company introduced a new polyether based TPU food belt, which offers enhanced food safety and longer service life.
Ahlstrom-Munksjö is another major player in the industrial fabric market. The company offers a wide variety of fabric-based products for transportation, wind, construction, and other industries. The company has adopted various strategies to cater to the increasing demand in the market. For instance, in July 2018, it launched Highflow, which is a new fabric for use in the production of wind turbine blades. The company also merged with Munksjö Oyj to provide innovative fiber-based solutions and enhance its product portfolio.
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