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Specialty Breathable Membranes Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Specialty Breathable Membranes Market
According to The Business Research Company's, The specialty breathable membranes market size has grown strongly in recent years. It will grow from $1.27 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to focus on sustainable construction practices, expansion of the medical textiles industry, rise in demand for sportswear, development of advanced filtration systems, renovation and remodeling activities.
The specialty breathable membranes market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to continued growth in green building practices, advancements in smart textiles, expansion of outdoor apparel market, increasing use in automotive interiors, focus on healthcare and hygiene products. Major trends in the forecast period include integration in wearable technology, collaborations for material research, moisture management in electronics, customization for specific end-use industries, outdoor and recreational gear.
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Market Drivers and Trends:
The rising capabilities of healthcare spending are expected to drive the growth of specialty breathable membranes going forward. Healthcare spending refers to the amount of money spent on health care and related activities such as private and public health insurance, health research, and public health activities. Rising healthcare expenditure and increasing healthcare awareness, encourage the concept of self-care management where specialty breathable membranes are used in products such as baby diapers, sanitary napkins, surgical drapes, and surgical gowns. For instance, in March 2023, according to the report published by American Medical Association (AMA), a US-based non-profit organization, health spending in the US increased by 2.7% in 2021 to $4.3 trillion or $12,914 per capita. Similarly, For instance, in September 2023, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, national health spending climbed by 2.7% to $4.3 trillion in 2021, or $12,914 per person, representing 18.3% of GDP. Therefore, the rising capabilities of healthcare spending are driving the growth of the specialty breathable membranes market.
Product innovation is a key trend gaining popularity in the specialty breathable membranes market. Major companies operating in the specialty breathable membranes market are developing innovative products to sustain their position in the market. For instance, in July 2023, Nibertex Pte Ltd., a Singapore-based manufacturing company of membranes, launched innovative PFAS and PFC-free waterproof breathable membranes. This innovative membrane, which uses cutting-edge polymer nanofibres, performs like no other, having an air permeability value of at least 0.3 cfm and a waterproof rating of at least 10,000 mmH20. This innovative membrane is the result of a unique manufacturing method that combines exact process controls with careful material research. To establish itself as a pioneer in environmentally friendly technical fabrics, Nibertex is getting rid of chemicals called PFC and PFAS, which are usually employed for their dirt and water resistance but are also linked to health and environmental issues.
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Major Key Players of the Market:
Covestro AG, RKW SE, Arkema SA, Schweitzer-Mauduit International Inc., Toray Industries Inc., Berry Global Group Inc., Daika Kogyo Co. Ltd., Dingzing Advanced Materials Inc., eVent Fabrics Inc., Nitto Denko Corporation, Pil Membranes Ltd., Rahil Foam Pvt. Ltd., Sympatex Technologies GmbH, Fosroc Inc., Polyfin AG, Cleanese Corporation, Saint-Gobain SA, E. I. du Pont de Nemours and Company, Faitplast S.P.A., Mitsui Chemicals Inc., Sioen Industries NV, DSM Engineering Plastics BV, Fatra AS, Trioplast Industrier AB, Clopay Plastic Products Company Inc., Fiberweb Ltd., GSE Environmental LLC, Johns Manville, GAF Materials Corporation, GCP Applied Technologies Inc., Freudenberg SE, Porex Corporation
Specialty Breathable Membranes Market 2024 Key Insights:
• The specialty breathable membranes market will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Driving Growth Specialty Breathable Membranes Market Expands With Soaring Healthcare Spending And Emphasis On Self-Care Management
• Setting New Standards Nibertex Pte Ltd. Introduces Pfas And Pfc-Free Waterproof Breathable Membranes With Cutting-Edge Innovation
• Asia-Pacific was the largest region in the specialty breathable membranes market in 2023
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