Global industrial fabrics market size will reach USD 29.4 billion
New York, U.S., Oct. 02, 2022 (GLOBE NEWSWIRE) — The Global Industrial Fabrics Market The size was valued at $18.1 billion in 2021. The market is expected to grow by $29.4 billion in 2030, at a CAGR of 4.4%. According to the latest research report from Spherical knowledge and advice.
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The nobel coronavirus is an unprecedented global pandemic that has spread to more than 180 countries and caused massive human and economic losses worldwide. Due to disruptions in the supply chain of industrial fabric products, the industrial fabric market has been significantly damaged as a result of the COVID-19 pandemic. Additionally, during the COVID-19 period, rising commodity prices, especially cotton and cotton yarn, reduced the production of industrial fabrics. Prices of cotton and cotton yarn, for example, increased by 20-30% in December 2020 compared to March 2020, according to a report by the Denim Manufacturers Association of India (DMAI). Additionally, there is a significant shift in investment from other sectors to healthcare in order to limit the increase in new coronavirus cases. In addition, due to the risk of infection among staff, some industrial fabric production companies and factories have closed or reduced their activities. This temporarily slowed the production rate of the industrial fabrics market.
According to an article published by Textile Value Chain, the total number of industrial fabric factories operating in India has increased by 53.3% since 2012, from 30 in 2012 to 46 in 2021. As a result, there could be fabrics most affordable industrial available. In the years to come, this aspect should propel the industrial fabric industry forward. Additionally, unbranded denim manufacturers account for a significant portion of industrial fabric usage. This could give an additional boost to the growth of the industrial fabrics market. Predominant preference for denim among young people due to the increase in sales of the denim market. The increasing use of denim products by women and millennials in small towns and rural areas is likely to propel the growth of the industrial fabrics market.
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The raw segment dominated the global industrial fabrics market share as raw denim is also known as unwashed or dry denim. It has a long lifespan, although the color fades with each wash. The cotton segment has dominated the global industrial fabrics market share as cotton fabric has been used for garments and home decoration since prehistoric times. It offers comfort and durability while being less heavy. The homewares segment has been leading the global industrial fabrics market share due to the increasing use of denim used in homewares and home decor applications. Denim upholstery is a lesser-known use of the fabric.
The Asia-Pacific region is expected to dominate the market share of the global industrial fabrics market due to increasing disposable income of consumers in developing countries and rising living standards of individuals. The increasing use of industrial fabrics in the production of a wide range of denim products such as jeans, shirts, jackets and other denim products is a major global market trend. The wide availability of cotton has fueled the expansion of the region’s industrial fabrics market. In addition, preferential market access is a key element in boosting Bangladesh’s textile sector, which has led to a huge increase in the demand for industrial fabrics. Due to steady economic growth and urbanization, China is expected to maintain its supremacy over the forecast period. Rising government investment in innovative textiles, growing taste for luxury brands and changing lifestyles are expected to propel India’s textile and apparel industry to double-digit growth.
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Key companies and recent developments
The global industrial fabrics market is highly competitive with the presence of several major players across the globe. Many big players spend a lot on research and advancement to learn about the latest technologies and consumer demands. Major players are Kontoor Brands, Inc, Advance Denim Co. Ltd, Arvind Limited, Bextex, Nandan Denim Ltd, Cone Denim LLC, Ha-Meem Group, KURABO INDUSTRIES LTD, UNITIN-INDUSTRIAS MORERA SA, KAIHARA DENIM, Kuzgunlar, Nasel Textile , Kilim, Artistic Denim Mills, ISKO, Modern Denim Ltd, Raymond UCO Denim Pvt. Ltd and others.
Browse key industry information spread over 200 pages with 92 market data tables, plus figures and graphs from the report “Global Industrial Fabrics Market Size, Share, and Impact Analysis of COVID-19, By Fabric Type (Raw, Sanforized, Crushed, Stretch, Vintage, Selvedge, and Others), By Raw Material (Cotton, Spandex, Polyester, and Others), By End Use (Apparel, Household Goods, Accessories and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2021-2030 » in detail with the table of contents
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