Global Textile and Fabric Finishing and Fabric Coating Mills Market Analysis: Size, Drivers, Trends, Opportunities And Strategies
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The textile and fabric finishing and fabric coating mills market has witnessed remarkable expansion in recent years. In 2023, the market size reached $72.56 billion, poised for a further surge to $81.94 billion in 2024, reflecting a compelling Compound Annual Growth Rate (CAGR) of 12.9%. This rapid growth is attributed to various factors, including consumer demand, globalization and trade, fashion trends, and technological advancements.
The Road Ahead: Projected Growth and Influential Factors
- Growth Projections: Anticipated growth continues into the forecast period, with the market size expected to reach $122.12 billion in 2028, boasting a CAGR of 10.5%.
- Factors Driving Growth:
- Reshoring and nearshoring
- E-commerce expansion
- Dominant Trends in the Forecast Period:
- Sustainability and eco-friendly practices
- Innovative materials
- Digitalization and Industry 4.0
- Customization and personalization
- Health and performance fabrics
Elevated Demand For Construction Projects: A Catalyst for Growth
The escalating demand for construction projects is identified as a key driver for the growth of the textile and fabric finishing and fabric coating mills market.
- Construction’s Role: Construction involves creating, building, or assembling structures and infrastructure. Textile and fabric finishing and fabric coating mills contribute significantly by providing specialized materials that enhance construction products’ performance, durability, and aesthetics.
- Market Impact: The global construction output was $10.7 trillion in 2020 and is projected to increase by 42%, reaching $15.2 trillion by 2030. This substantial growth fuels the demand for the products supplied by the textile and fabric finishing and fabric coating mills market.
Market Giants: Major Players Shaping the Landscape
The textile and fabric finishing and fabric coating mills market is dominated by key players, showcasing the industry’s competitive landscape.
- Leading Companies:
- Daiwabo Holdings Co. Ltd.
- Grasim Industries Limited
- Leggett & Platt Incorporated
- Sioen Industries NV
- Swift Galey LLC
- Market Presence: These companies, among others, play pivotal roles in influencing market dynamics, catering to diverse end-use industries.
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Innovation Unleashed: The Pursuit of Reliable Services
Major companies in the market are channeling efforts towards innovation to provide customers with reliable services.
- G-Heatex: A groundbreaking product in focus is G-Heatex, a line of graphene-coated fabrics. Launched by Grafren AB, these fabrics emit strong, even heat, remaining flexible, supple, and ultra-lightweight.
- Applications:
- Heated apparel
- Medical applications
- Automotive applications
- Aerospace applications
- Sports and outdoor activities
Segmentation Insights: Navigating the Market Landscape
- By Type:
- Textile and Fabric Finishing Mills
- Fabric Coating Mills
- By Technology:
- Traditional
- Advanced
- By End-Use Industry:
- Transportation
- Building and Construction
- Protective Clothing
- Industrial
- Medical
- Sports
- Agriculture
- Packaging
Geographical Dominance: Asia-Pacific Takes the Lead
In 2023, Asia-Pacific emerged as the largest region in the textile and fabric finishing and fabric coating mills market, underscoring the region’s dominance and influence in this thriving industry.
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The Textile and Fabric Finishing and Fabric Coating Mills Global Market Report 2024 provides an overview of the textile and fabric finishing and fabric coating mills market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The textile and fabric finishing and fabric coating mills market forecast analyzes textile and fabric finishing and fabric coating mills market size, textile and fabric finishing and fabric coating mills market share, leading competitor and their market positions.
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