The global fabric protection market size is expected to reach USD 1.53 billion by 2025, expanding at a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing product demand for performance fabrics, owing to its advanced traits such as stain and water resistance, and antimicrobial properties are predicted to propel industry growth over the projected period.
The industry players are observed to enter long-term contracts with the raw material suppliers to maintain consistency in the raw material supply chain. The key raw materials used for fabric protection such as carbon dioxide, isopropyl alcohol, acetone, fluorochemicals are highly sensitive. Thus, raw material handling, storage, and transportation are expected to be major factors influencing the overall product pricing.
The key industry participants own several trademarks, which has emerged as a valuable asset for these companies. Product branding of these market players helps them gain extended consumer traction and strengthen their presence in the industry. This strategy is likely to be the key barrier for the emerging industry players, thereby lowering the threat of new entrants in this business.
Fabric protection products, although they are not toxic by nature, contain various hazardous chemicals, which leads to water or soil contamination. Rising awareness regarding the harmful effects of such raw materials on the environment as well as human health has led to numerous legislations & regulations governing this industry. However, innovations in the chemical field to manufacture eco-friendly raw, sustainable products is expected to have a positive impact on the industry growth.
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Further Key Findings from the Report Suggest:
• In 2018, upholstery fabrics including sofas, rugs, and carpets accounted for the largest share of 52.3%, owing to high aftermarket sales of these products as compared to other application segments
• In the U.S. the demand for these products in footwear application was valued at USD 23.7 million in 2018, which can be attributed to high standards of living and high consumer spending capacities
• The Asia Pacific, which dominated the industry in 2018, is also likely to emerge as the fastest market for these products owing to the rapid growth of the middle-class population in the countries including India and China
• Rising use of water repellant, stain & dust resistant fabric protection products in the manufacturing of medical textiles, work and lab wear apparels is expected to drive the industry growth
• The fabric protection market is highly competitive with a few players accounting for a significant market share, wherein wide distribution network, brand value, and well-established consumer base help sustain in the business
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Grand View Research has segmented the fabric protection market on the basis of product and region:
Fabric Protection Application Outlook (Revenue, USD Million; 2014 - 2025)
Fabric Protection Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
o Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.