Chicago, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The global Silicone Fabrics Market by is projected to grow from USD 4.0 billion in 2021 to USD 5.5 billion by 2026, at a CAGR of 6.8% from 2021 to 2026 , as per the recent study by MarketsandMarkets™. The market for silicone fabrics has experienced significant growth, primarily due to stringent government regulations regarding passenger safety in automotive, growth of manufacturing industries, increasing demand for the protective clothing, and growing adoption in upholstery and furniture industry. Moreover, the increasing demand for superior quality, high performance, and durable fabrics in consumer good manufacturing will drive the demand of silicone fabric soon.

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List of Key Players in Silicone Fabrics Market:

1. Elkem (US)
2. 3M Company (US)
3. Auburn Manufacturing Inc. (US)
4. Nott Company (US)
5. Mid-Mountain Materials, Inc (US)
6. Newtex Industries, Inc (US)
7.  Precision Coating & Coated Fabrics (US)
8. Trelleborg AB (Sweden)
9.  COMPAGNIE DE SAINT-GOBAIN S.A. (France)
10. Serge Ferrari Group (France)

Drivers, Restraints, Opportunities and Challenges in Silicone Fabrics Market:

1. Drivers: An increasing number of airbags per vehicle coupled with stringent regulation supports the market growth
2. Restraint: The availability of low-cost substitutes offers stiff competition to market
3. Challenges: Fluctuating raw materials prices impact the market growth
4. Opportunities: Growing Penetration in the medical and healthcare sector

Key Findings of the Study:

1. Fiberglass segment estimated to lead the Silicone fabrics market in 2020
2. Industrial fabric segment is estimated to be leading consumer of Silicone fabrics
3. APAC projected to account for the largest share of the Silicone fabrics market during the forecast period

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Fiberglass segment estimated to lead the Silicone fabrics market in 2020

By base fabric, the fiberglass segment accounted for the largest share in the overall Silicone fabrics market. This growth can be attributed to the low cost, high performance, suitability to several industrial applications, and strong resistance to heat, water and UV supports for the growth of the silicone coated fiberglass fabrics market. Similarly, the polyamide segment is mainly driven by increasing demand for the airbags across the globe. Also, it is supported by the stringent government regulation in developed as well as developing countries.

Industrial fabric segment is estimated to be leading consumer of Silicone fabrics

The industrial fabric segment led the overall Silicone fabrics market in 2020, both in terms of value and volume. It is used across several industrial applications such as conveyor belts, insulation, gaskets, hoses, and heat shield, among other. With the growth of the manufacturing industry across the globe, the demand for silicone fabrics is increasing steadily.

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APAC projected to account for the largest share of the Silicone fabrics market during the forecast period

APAC is projected to have the largest share in the global Silicone fabrics market, in terms of both value and volume, from 2021 to 2026. The APAC Silicone fabrics market is driven by the thriving demand from the manufacturing industry, automotive, and fabrication industry. APAC Silicone fabrics market has been witnessing consistent growth due to the increasing automotive as well as airbag production in region, growth of the manufacturing sector, and double-digit growth of healthcare and medical sector. Due to the COVID-19 pandemic, the economic growth of several countries such as India, ASEAN, and other countries, has been declining owing to disruption of the supply chain, declining demand for industrial product, the suspension of the manufacturing facilities, and declining oil & gas prices. The demand for Silicone fabrics is therefore expected to decrease in several end-use industries in 2020.

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Related Reports:

1. Hyaluronic Acid Market
2. Marine Insulation Market
3. Lubricity Improver Market
4. Silicone Market
5. Industrial Fabric Market
6. Healthcare Fabrics Market
7. Antimicrobial Textile Market
8. Polymer Coated Fabrics Market

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