Industrial Fabric Market Industry New Revenue Pockets

Northbrook, IL, USA, 2021-Aug-17 — /EPR Network/ —

The global industrial fabric market size was USD 108.3billion in 2020 and is expected to reach USD 162.9 billion by 2025, projecting a CAGR of 8.5% between 2020 and 2025.Industrial fabricsare increasingly used in the automotive carpet, conveyor belt, protective clothing, flame resistant apparel and other applications due to light weight, high strength, corrosion resistance, and other properties. The increasing demand of automotive drives the demand for industrial fabric in these industries. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for industrial fabric .Due to the lockdown scenario in Europe and North America, the demand for industrial fabric from automotive, mining and other industries have declined sharply in the first half of 2020.

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The automotive carpetis the largest application ofindustrial fabric  in terms of value.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. As a result, its use is increasing in various applications such astransmission belt, conveyor belt, protective clothing, flame resistant apparel, and others.

The China is the largest market for industrial fabric  in the world, in terms of both value and volume. The trend is expected to be the same during the forecast period. The country is home to some of the major industrial fabric manufacturers. The growing automotive industry and industrial activities in the region are propelling the market for industrial fabric  in the China. With Germany, the US, Spain, Indiabeing the most affected countries, the entire supply chain in the wind energy industry is disrupted globally. The lockdown of international borders has reduced the demand for industrial fabric in Europe and North America.

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Industrial fabrics are segmented based onfiber used in to polyester, polyamide, aramid, composite, and others. The polyester resin-based industrial fabric s accounted for a larger sharein the industrial fabric market. 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. The demand for polyester based-industrial fabric is expected to see a decline in 2020 due to the pandemic.

Though declined demand will impact the revenue of fiber suppliers, they are expected to increase their profit margin from plummeting crude oil prices.

Due tothe COVID-19 crisis, severalplayers in the industrial fabric markethave implemented various strategies. For instance, many companies are operating in staggered shifts or running at partials capacities.