The compound annual growth rate through 2021 is expected to increase significantly for industrial fabrics made of natural and synthetic materials, woven and nonwoven, for processing, automotive, filtering, printing and belting applications, according to a report by Radiant Insights. The polyester fiber sector may account for significant market share of industrial fabrics in terms of volume and value; the aramid sector is predicted to grow at the fastest pace.
Globally, the Asia Pacific region may account for a substantial market share of industrial fabrics and is estimated to lead the overall market in the years to come, due to the presence of key manufacturers in the region, rising foreign direct investment and industrialization, and the expansion of the automotive industry. Developing countries like India and China are the major consumers of industrial fabrics in this region.
The report includes development policies and plans, manufacturing processes and cost structures. This report also supplies import/export and supply and consumption figures by region. Upstream raw materials, equipment and downstream consumer analysis is also provided.
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services.