Construction Fabrics Market Set for Rapid Growth Of USD 2.26 Billion By 2023: MarketsandMarkets™
The "Construction Fabrics Market size is expected to grow from USD 1.47 billion in 2018 to USD 2.26 billion by 2023, at a CAGR of 9.0%. The competitiveness in the market is expected to grow gradually in the near future, especially when the there will be considerably increased consumption. Increasing focus on creating high-performance fabrics with durable and aesthetic benefits is the key strategy adopted by the leading players in the construction fabrics market.
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APAC construction fabrics market is projected to witness the highest CAGR during the forecast period, in terms of value.
The construction fabrics market has been studied for Europe, North America, APAC, the Middle East & Africa, and South America. The APAC construction fabrics market is projected to register the highest CAGR during the forecast period, in terms of value. The increasing installation of awnings & canopies in the APAC region is expected to significantly drive the construction fabrics market in the region between 2018 and 2023.
China and India are witnessing increased demand for construction fabrics, which is projected to continue in the future as well. Moreover, there is a significant increase in the use of construction fabrics in various applications such as tensile architecture, awnings & canopies, and facades. The construction fabrics market in this region is fragmented with the presence of a large number of local manufacturers and suppliers. Local manufacturers in this region are mostly engaged in producing PVC based construction fabrics for architectural and building & construction applications. This is largely due to the low cost of PVC based construction fabrics which finds extensive application in awnings & canopies.
Sioen Industries NV (Belgium), Low & Bonar (UK), Satler AG (Austria), Taiyo Kogyo Corporation (Japan), Serge Ferrari (France), and Saint-Gobain (France), among others, are the key players operating in the construction fabrics market.
Low & Bonar (UK) offers its products under Mehgies, which is the premium product offered under the coated technical textiles division of Low & Bonar. The company claims to produce 53.0 million square meters of coated fabrics for various end-use industries.
Serge Ferrari (France) is engaged in the manufacturing of a range of high-performance fabrics with durable mechanical properties and aesthetics. The company produced construction fabrics are eco-designed and can be recycled via Texyloop. The company operates through three production facilities: one located in France and two in Switzerland.
Saint-Gobain (France) provides construction fabrics under the brand SHEERFILL. With a worldwide network of production and sales operations, Saint-Gobain has years of experience in developing leading polymer solutions. The company has installed over 7 million square meters of fabric structures around the world.
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