The Performance Fabric Market is estimated to be valued at USD 71.56 Bn in 2024

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the performance fabric market. Coherent Market Insights’ analyst projected the performance fabric market to be valued at USD 71.56 Bn in 2024. It is expected to exhibit a CAGR of 3.7% over the forecast period 2024 -2031.

The increasing demand for performance fabrics from the automotive industry drives market growth. Performance fabrics are increasingly being used in automobile interiors such as seat covers, door panels, and headliners owing to their properties such as moisture wicking, anti-microbial, stain resistant, and durability. Rising vehicle production across the world is fuelling the demand for performance fabrics in the automotive industry.

Moreover, increasing participation in sports and outdoor activities also fuels market growth. Performance apparel made from technical fabrics that offer properties such as moisture management, UV protection, anti-microbial etc.

Key Market Trends include growing demand for bio-based performance fabrics: The rising awareness about environmental sustainability is propelling the demand for bio-based performance fabrics manufactured using natural and biodegradable raw materials. Bio-based performance fabrics offer properties similar to synthetic fabrics and are eco-friendly. Bio-based fabrics are increasingly being adopted in sportswear, outdoor apparel, and medical fabrics.

Rise of Digital Printing on Performance Fabrics: The use of digital printing technology on performance fabrics is witnessing high growth. Digital printing enables multi-color printing on fabrics and customized printing as per customer requirements. It reduces time and improves design versatility and quality. Sportswear manufacturers are increasingly adopting digital printing to deliver fashionable and customized garments to customers.

Performance Fabric Market Opportunities: The coated fabrics segment accounts for the largest share in the global performance fabric market. Coated fabrics are fabric materials that have been coated during manufacturing to make them waterproof, fire retardant or protect them from UV degradation. They find wide application in the transportation, industrial, protective clothing and construction industries.

On the basis of end-use industry -The industrial end-use segment is expected to witness significant growth over the forecast period. Performance fabrics find extensive application in the manufacturing of protective clothing, conveyor belts, hydraulic hoses, tarpaulins and fabrics for machinery. Ongoing infrastructure development projects worldwide are boosting the consumption of performance fabrics in the construction industry.

Key Market Takeaways: The global performance fabric market is anticipated to witness a CAGR of 3.7% during the forecast period 2024-2031. This is owing to rapid growth of end-use industries like transportation, industrial, sports and protective clothing.

On the basis of type, the coated fabrics segment is expected to hold a dominant position. This is owing to their widespread application in automotive, transportation, industrial and construction industries.

On the basis of end-use industry, the industrial segment is expected to hold the largest share over the forecast period. This is due to stringent worker safety regulations and growing industrial and infrastructure activities globally.

By region, North America is expected to hold a dominant position over the forecast period.  This is due to well-established automotive, aerospace and sports industries in the region.

Competitor Insights: Key players operating in the performance fabric market include DuPont de Nemours, Inc., INVISTA, Gore-Tex (W.L. Gore & Associates, Inc.), Teijin Limited, Milliken & Company, Schoeller Textiles AG, Huntsman Corporation, Ahlstrom-Munksjö, Lenzing AG, Toray Industries, Inc., Eastman Chemical Company, Asahi Kasei Corporation, 3M Company, Columbia Sportswear Company, and Nike, Inc.

Recent Developments:  In May 2024 Teijin Frontier, a major fiber and textile producer, created a novel polyester material that mimics traditional bamboo blinds This pattern provides excellent breathability and UV protection, meeting the growing demand for heat-protective materials. More information in full report