New York, Nov. 05, 2019 (GLOBE NEWSWIRE) — The increasing demand for industrial fabrics in the automotive industry owing to the rise in demand for consumers and growth in population and urbanization are propelling the market growth.
The is forecast to reach USD 178.99 Billion by 2026, according to a new report by Reports and Data. These fabrics are unique materials that are used in aerospace, and automotive industries for various purposes such as for making conveyor belt, flame-resistant apparel, protective apparel, automotive carpets, and many others.
The market for such fabrics is influenced by the rising industries due to urbanization. The rising applications conveyor belt, and protective apparel are booming the market for such fabrics. The automotive sector is depended on this market for manufacturing of carpets, seat belts, seat coverings, and many others. The cost price of the raw materials continuously fluctuates, and strict government regulations are creating a market restraint.
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The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of non-apparel fabrics manufacturing add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the market of fabrics used for industrial purposes owing to innovative efforts have improved the efficiency of fabrics.
In the Asia Pacific region due to the sudden rise in population and rapid urbanization, the market for such fabrics is propelling at a swift rate. The rising economy in counties like China and Japan due to favorable political, social, and economic conditions are helping the market to grow. Construction, transportation and automotive industries of the APAC region are using these fabrics for the production of belts and automotive carpets used in vehicles. China is the highest manufacturer and consumer of such fabrics.
Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Industrial Fabrics market on the basis of fiber type, application, end-users and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Fiber Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
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