Multiaxial Woven Fabrics Market Research Report and Outlook by 2028

The market for multiaxial woven fabrics is projected to expand from US$ 1,089.17 million in 2022 to US$ 1,469.01 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.1% during this period.

Multiaxial fabrics are produced using a variety of fiber types, including glass, carbon, aramid, and natural fibers, often in combination. These fabrics find applications across numerous industries, such as consumer goods, automotive, construction, and aerospace. Key factors propelling the growth of the multiaxial woven fabrics market include the robust expansion of the composites sector and the increasing adoption of these fabrics within the aerospace industry. Multiaxial fabrics are integral to the production of composite materials, which are essential for reducing weight in structural applications, particularly in aircraft and spacecraft components. Additionally, there is a notable rise in investments within the wind energy sector. As the depletion of nonrenewable energy resources accelerates, the shift towards clean (renewable) energy sources has gained significant traction. Many nations are prioritizing the generation of clean energy to minimize carbon emissions, with wind power emerging as one of the fastest-growing renewable energy sources. The International Energy Agency reported that wind-generated electricity increased by nearly 273 TWh in 2021, marking a 17% rise and a 55% increase compared to 2020. These developments are expected to further enhance the demand for multiaxial woven fabrics in the near future.

The global multiaxial woven fabrics market is categorized by application into construction, industrial, military, consumer goods, and others. In 2022, the industrial segment captured the largest share of the market. Multiaxial fabrics are utilized in a wide range of industrial applications, including marine, wind energy, automotive, and aerospace sectors. Their incorporation can significantly enhance product performance while simultaneously lowering weight and costs. In the automotive sector, these fabrics are employed in various components such as tires, hoses, and seat belts. Furthermore, in the marine industry, multiaxial woven fabrics are essential for constructing nearly all structural elements of a vessel, including the hull, superstructure, deck, internal bulkheads, and reinforcements.

In 2022, Europe held the largest share of the global multiaxial woven fabrics market. The growth in this region is primarily fueled by the rising utilization of composites across various end-use sectors, including automotive, aerospace, consumer goods, and wind energy. The expanding wind energy market in Europe is particularly driving the demand for multiaxial woven fabrics. Additionally, several European nations are engaged in the development and production of civil and military aircraft, helicopters, drones, aero-engines, and other related systems and equipment. Germany stands out as one of the largest markets for aerospace and defense in Europe. The exceptional strength-to-weight ratios and superior physical properties of composite materials make them highly sought after in aerospace applications. Moreover, Germany is recognized as a leader in high-tech automotive manufacturing, with the automotive industry serving as a cornerstone of its economy. Other European countries, including the UK, France, and Italy, also boast strong automotive sectors, further stimulating the demand for multiaxial woven fabrics in the region.

Key players in the global multiaxial woven fabrics market include 3D Weaving SaRL, Sigmatex (UK) Ltd, Textum OPCO LLC, Cristex Composite Materials Ltd, Biteam AB, Albany International Corp, Tantra Composite Technologies Pvt Ltd, Parabeam BV, Halarit Composites GmbH, and SGL Carbon SE. These companies are committed to delivering high-quality products to meet customer needs. They are also implementing strategies such as investing in research and development, launching new products, forming collaborations, and pursuing mergers and acquisitions.

The overall size of the global multiaxial woven fabrics market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the multiaxial woven fabrics market.