This page was printed from https://geosyntheticsmagazine.com

Industrial fabrics market outlook

July 10th, 2020 / By: / Industry News

According to the report “Industrial Fabrics—Global Market Trajectory & Analytics” by ResearchAndMarkets.com, amid the COVID-19 crisis and the looming economic recession, the industrial fabrics market worldwide will grow by a projected US$32 billion during the analysis period (2020-2027), driven by a revised compounded annual growth rate (CAGR) of 3.4%. Polyamide, one of the segments analyzed and sized in this study, is forecast to grow at over 4% and reach a market size of US$29.9 billion by the end of the analysis period.

An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The polyamide market will be reset to a new normal which, going forward in a post COVID-19 era, will be continuously redefined and redesigned.

As part of the new emerging geographic scenario, the U.S. is forecast to readjust to a 2.1% CAGR. Within Europe, Germany will add over US$769 million to the region’s size over the next seven to eight years. In addition, over US$804.6 million worth of projected demand in the region will come from other European markets.