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The global performance fabrics market size is anticipated to grow substantially during the forecast period. Growing demand for performance fabrics from the healthcare and construction industry is likely to bolster market growth. Performance fabrics are particularly unique fabrics that are manufactured d for a range of applications. This particular type of fabric delivers added benefits, such as waterproofing, odor deflection, stain protection, flame resistance, body temperature heating and ventilation, etc. The demand for global performance fabrics is predicted to face high growth in the future due to the expansion of the construction industry, understanding of worker protection and growing expenditure on healthcare. Performance fabrics are commonly used for protection in different industries and to combat harsh working conditions.
The strong growth of the aramids is due to the growing demand for protective fabric applications from the defense and industrial sectors. This is due to the high potential consequences and harsh working conditions related with industries such as mining, petrochemicals, oil & gas, and manufacturing, and among others. Workers in such industries have to face high temperature and pressure and are exposed to several other risks that make protective clothing vital in the market. Government regulations regarding worker’s safety are projected to enhance the application of performance fabrics in these sectors However, the involvement of diverse distributors with large production levels is likely to restrict the supremacy of sourcing of raw materials, hence impacting the performance fabrics market growth.
Based on material, the market for global performance fabric is segmented into coated fabrics, polyamide, high-tenacity polyester, composite fabrics, aramid, and others. On the basis of application, the market is classified into industrial, defense & public safety, construction, fire-fighting, aerospace & automotive, sports apparel, others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increasing application in defense sector coupled with the rising demand for workplace safety drives the market.
Key Market Restraint -
Uncertainties in prices of raw materials and high competition will restrict growth.
The global performance fabric market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is the main market for performance fabrics and China is the leading manufacturer of fabrics in the region, as well as globally, due to its low price of producing fabrics, changing people's lifestyles in the region, and increasing credence to industrial and defense safety equipment. North America is expected to be the fastest-growing market for performance fabrics. The North American market is driven by expanding awareness of personal hygienic practices and overall fitness and the restoration of the design and construction industry. Strong integration of laws and regulations on the safety and health of workers also helps to drive demand for performance fabrics in Europe. The market has witnessed significant growth due to massive demand from the defense & public safety industries. The improvement in labor conditions in industrial installations, along with the strict regulation on the safety of workers, is also driving the growth of the industry. The Middle East and the African region will be among the recent advances in regional industrial growth, particularly in the advancement of production facilities. Latin America is also suffering from political instability and economic instability that inhibits business expansion.
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