Asia Pacific Multiaxial Woven Fabrics Market Forecast to 2028 -Regional Analysis

The Asia Pacific multiaxial woven fabrics market is expected to grow from US$ 289.07 million in 2022 to US$ 422.19 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.

Growing Focus of Manufacturers on Adopting Different Strategies Drive Asia Pacific Multiaxial Woven Fabrics Market

Players operating in the Asia Pacific multiaxial woven fabrics market are adopting various growth strategies such as investments in research & development activities, partnerships, and mergers & acquisitions. In July 2019, SAERTEX acquired 100 % shares in the Bavarian company TK Industries GmbH. With the acquisition, SAERTEX has expanded its range of heavy-tow carbon fiber multiaxial fabrics. The acquisition of TK Industries will also provide SAERTEX with additional capacity in the short term to meet the ever-increasing demand for carbon fiber fabrics and thus enable improved delivery times for their customers. Moreover, in April 2022, SAERTEX and Terre de Lin collaborated to develop multiaxial fabrics with flax fibers for the marine and sports & leisure segments. The adoption of different growth strategies helps players stand out as strong competitors in the market. Therefore, the growing focus of manufacturers on adopting different strategies is expected to boost the Asia Pacific multiaxial woven fabrics market growth during the forecast period.

Asia Pacific Multiaxial Woven Fabrics Market Overview

The Asia Pacific multiaxial woven fabrics market, by country, is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The strong growth of the automotive, wind energy, sporting goods, and other industries bolsters regional market growth. China is the world’s largest vehicle market by annual sales and manufacturing output. The automotive industry in the country is growing rapidly. According to the China Passenger Car Association, ~2.17 million passenger cars were sold through retail channels in December 2022, an increase of 3% year-on-year. The automotive industry in India is also growing due to the rising middle-class population and increasing automotive vehicle sales. Multiaxial fabric is highly used in the automotive industry. Hence, strong growth of the automotive industry in Asia Pacific drives the demand for multiaxial fabrics. In Asia Pacific, rising population is putting a strain on current infrastructure, necessitating the development of new residential structures. The governments and regulatory bodies from the region are focusing on additional infrastructure investments. China is one of the world’s largest construction markets. Rising construction activities due to the increasing population and rapidly growing commercial sector are bolstering the growth of the construction industry in Asia Pacific. Further, in the sport industry, multiaxial fabric is increasingly used for skis, surfboard, kiteboard, helmets, snowboards, and other sports items.

Asia Pacific Multiaxial Woven Fabrics Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Multiaxial Woven Fabrics Market Segmentation

The Asia Pacific multiaxial woven fabrics market is segmented into type, application, and country.

Based on type, the Asia Pacific multiaxial woven fabrics market is segmented into bidirectional fabrics, triaxial fabrics, quadraxial fabrics, and others. In 2022, the quadraxial fabrics segment registered a largest share in the Asia Pacific multiaxial woven fabrics market.

Based on application, the Asia Pacific multiaxial woven fabrics market is segmented into construction, industrial, military, consumer goods, and others. In 2022, the industrial segment registered a largest share in the Asia Pacific multiaxial woven fabrics market.

Based on country, the Asia Pacific multiaxial woven fabrics market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2022, China segment registered a largest share in the Asia Pacific multiaxial woven fabrics market.

Albany International Corp; Parabeam BV; SGL Carbon SE; Sigmatex (UK) Ltd; and Tantra Composite Technologies Pvt Ltd are the leading companies operating in the Asia Pacific multiaxial woven fabrics market.