Press release
Industrial Fabric Market Poised for Growth: Innovation and Sustainability Drive Demand to USD 33.40 billion by 2034
Industrial Fabric Market
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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.
"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 Industry Study
The polyester segment dominates the industrial fabric Industry, accounting for a share of 4.50%.
On the basis of the application, the transmission belt segment leads the industrial fabric Industry, holding a share of 4.40%.
The industrial fabric Industry in the United States is anticipated to grow at a CAGR of 4.80% through 2034.
The industrial fabric Industry in China is estimated to rise at a 5.00% CAGR through 2034.
The industrial fabric Industry in Japan has the potential to increase at a 5.90% CAGR through 2034.
Competitive Landscape
The industrial fabrics Industry is highly competitive, with numerous companies catering to various industries worldwide. Major players in the Industry 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.
To Gain More Insights about this Research, Visit! https://www.futuremarketinsights.com/reports/industrial-fabric-market
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
Related Reports:
Agricultural Fabrics Market: https://www.futuremarketinsights.com/reports/agricultural-fabrics-market
Coated Fabrics Market: https://www.futuremarketinsights.com/reports/coated-fabrics-market
Finishing Chemical for Coated Fabrics Market: https://www.futuremarketinsights.com/reports/finishing-chemical-for-coated-fabrics-market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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