Market Trends of Industrial Fabric Industry
This section covers the major market trends shaping the Industrial Fabric Market according to our research experts:
Increasing Application in Automobile Interior Trim
- Industrial fabrics are specially designed and engineered products used for challenging and high-performance applications.
- These Industrial fabrics have greater application in making automobile's interior trim like carpets, seat covers roof and door liners which constitutes a major part for industrial fabric market.
- In United States, the revenue per utility vehicle auto brands pocketed in Q1 2019 skyrocketed from USD 800 to USD 33,100 compared to the same in FY'18.
- The global automotive production has been on a rapid decline in 2019. But, with the increasing advancements in development of advanced interior trims, the usage of industrial fabric has been gradually increasing.
- Automobile industry leads in the utilization of industrial fabrics with China, United States, Germany, United Kingdom, India and Japan playing a major role in this market.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for industrial fabrics during the forecast period. In countries like China, India and Japan because of the high demand applications for interior trims of automobiles, fire protective apparel, the market for industrial fabric has been increasing.
- The largest producers of industrial fabric are located in Asia-Pacific region. Some of the leading companies in the production of industrial fabric are Bridgestone Corporation, Forbo International SA, Habasit, TORAY INDUSTRIES, INC.
- According to Indian Bureau of Mines, the mining industry witnessed a 2.9% Y-o-Y growth in 2019 over 2.3% in 2018 which created a major market (for conveyor belts) in this sector during the time period.
- The total mining production in China recorded an all time high in September 2019, when the output grew by about 8.1%.
- The aforementioned factors coupled with government support are contributing to the increasing demand for industrial fabric market during the forecast period.
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