Silicone Fabrics Market is Expected to Reach $5.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Silicone Fabrics Market: Opportunity Analysis and Industry Forecast, 2021–2030,” 

The global silicone fabrics market was valued at $3.9 billion in 2020, and is projected to reach $5.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

Silicone fabrics can be manufactured naturally or synthetically. Materials, such as polyester, glass, cotton, or fiberglass, are used in the production of fabric, and silicone rubber dispersion coated on both sides of these materials. The silicone fabric is resistant to flame, chemical, abrasion, and has the ability to withstand extreme weather conditions.

Demand for silicone fabrics has witnessed tremendous growth driven by increasing penetration in applications such as protective clothing, industrial fabric, clothing fabric, and others. All industry players are investing heavily to find new commercial avenues for their product segments via strategic production and business expansion. Some of the major factors that surge the demand for silicone fabrics include increasing number of airbags per vehicle coupled with stringent government regulations regarding passenger safety in automobiles, growing usage of silicone fabrics in construction, manufacturing sectors, and in upholstery and furniture industry. However, the availability of low-cost substitutes is expected to hamper the growth of the silicone fabrics market during the forecast period. Furthermore, growing penetration of silicone fabrics in the medical and healthcare sector is expected to provide growth opportunities for the silicone fabrics market during the forecast period.

By base fabric, the global silicone fabrics market size is divided into fiberglass, polyester, polyamide, and others. The fiberglass segment accounted for the largest market share in 2020, owing to low cost, high performance, suitability to several industrial applications, and strong resistance to heat, water, and UV. The fiberglass segment dominated the global silicone fabrics market with more than two-fifths of the total market share in 2020.

By application, the market is classified into protective clothing, industrial fabric, clothing fabric, and others. The industrial fabric segment accounted for the largest market share in 2020, owing to surge in usage of silicone fabrics across several industrial applications such as conveyor belts, insulation, gaskets, hoses, and heat shield. The industrial fabric segment dominated the global silicone fabrics market with more than half of the total market share in 2020.

By end use, the market is fragmented into industrial, consumers, automotive, and others. The industrial segment emerged as the leader in 2020, owing to increase in foreign direct investment and rapid industrialization across the developing economies such as China, India, and Brazil. The industrial segment dominated the global silicone fabrics market with more than half of the total market share in 2020.

Region-wise, the global silicone fabrics market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a major silicone fabrics market share in 2020, and dominated the global market with more than half of the total market share in 2020.

The major players studied and profiled in the global silicone fabrics market are Trelleborg AB, KAP AG, Compagnie DE Saint-Gobain S.A., Serge Ferrari Group, 3M Company, Auburn Manufacturing Inc., Nott Company, Mid-Mountain Materials, Inc., Newtex Industries, Inc., and Colmant Coated Fabrics.

COVID-19 analysis:

Attributed to the COVID-19 pandemic, the demand from the industrial sector had declined sharply in 2020. This impact was further intensified with the declining oil & gas prices and the massive gap between supply and demand. Due to economic losses, several production activities were suspended until the recovery of the economy. This decline in the manufacturing industry across the globe, in turn, resulted in a decline in the demand for silicone fabrics.

Key findings of the study

• In 2020, Asia-Pacific dominated the global silicone fabrics market with around 52.0% share, in terms of revenue. In addition, it is projected to grow at the highest CAGR of 4.5% in terms of value.
• The fiberglass segment dominated the global silicone fabrics market with around 43.7% of the share in terms of revenue. 
• The polyamide segment is projected to grow at the highest CAGR of 4.8% in terms of revenue.
• The industrial fabric segment dominated the global silicone fabrics market with around 50.4% of the share in terms of revenue. In addition, it is projected to grow at the highest CAGR of 4.6% in terms of value.
• The industrial end-use segment dominated the global silicone fabrics market with around 50.9% of the share in terms of revenue. 
• The automotive segment is projected to grow at the highest CAGR of 5.0% in terms of revenue.