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Construction fabrics market worth $2.26 billion by 2023

October 11th, 2018 / By: / Industry News, News

A new report from MarketsandMarkets predicts the construction fabrics market will grow from $1.47 billion in 2018 to $2.26 billion by 2023, at a compound annual growth rate (CAGR) of 9 percent. The growth of the market can be attributed to the increased demand worldwide for construction fabrics in tensile architecture, awnings and canopies, and facade applications.

These fabrics exhibit self-cleaning characteristics and are resistant to harsh weather conditions. Construction fabrics are made of high-strength inner fabric or mesh onto which a protective polymer coating is applied on both sides to help resist moisture, heat, and air transfer and safeguard the fabric from mechanical and chemical damage. Construction fabrics help achieve lightweight and futuristic design in architectural applications.

The construction fabrics market has been segmented into PTFE, PVC, ETFE, and other materials. In terms of value, the PVC construction fabrics segment is projected to be the largest segment during the forecast period. PVC or coated polyester fabric coatings include UV stabilizers, fire retardants, coloring, and anti-fungicide additives.

In terms of value, the tensile architecture application is estimated to account for the largest share of the construction fabrics market in 2018. Globally, there is an increased acceptance of tensile structures as modern building techniques.

Regionally, the APAC region is projected to register the highest CAGR during the forecast period. The increasing installation of awnings and canopies in the region is expected to drive growth. The report notes that the region is fragmented by the presence of a large number of local manufacturers and suppliers, producing mostly PVC-based construction fabrics.

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats.