The global construction fabrics market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
Emerging economies in APAC such as Indonesia, Malaysia, Vietnam, Japan, and the Philippines are making significant investments toward infrastructure development. For instance, last year, the Malaysian Government announced the commencement of five new government projects on the Langkawi island under the 11th Malaysia Plan. Similarly, upcoming sports events such as FIFA World Cup 2022 and World Aquatics Championships 2023 have increased construction activities in Qatar. Many such construction activities across the world will create a strong demand for construction fabrics such as ETFE, PVC, PTFE, and others. These factors are expected to drive the growth of the global construction fabrics market during the forecast period.
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As per Technavio, the increasing use of carbon fibers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Construction Fabrics Market: Growing Use of Carbon Fibers
Carbon fibers are widely used in the construction of bridges and roads due to their high tensile strength, durability, chemical stability, corrosion resistance, and rigidness. They are also lightweight and cost-effective. During the forecast period, the demand for carbon fibers is expected to increase with the rise in road and bridge construction projects across the world. For instance, upcoming construction projects in the US, such as The New York Bridge, Project Neon, Las Vegas, and Honolulu Rail Transit Project are expected to drive the demand for carbon fibers during the forecast period.
“Apart from the growing use of carbon fibers, increasing demand for textile-reinforced concrete is another major factor that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Construction Fabrics Market: Segmentation Analysis
This market report segments the global construction fabrics market by type (PVC, PTFE, ETFE, and others), application (tensile architecture, awnings and canopies, and facades), and geography (APAC, Europe, MEA, North America, and South America).
The Europe region led the market in 2018, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the Europe region is expected to maintain its dominance over the global market due to the increasing demand for modern and sustainable construction materials from the region’s construction industry.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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