At 5.2% CAGR, the North America Multiaxial Woven Fabrics Market is projected to be worth US$ 436.15 million by 2028, says Business Market Insights

According to Business Market Insights research, the North America multiaxial woven fabrics market was valued at US$ 320.87 million in 2022 and is expected to reach US$ 436.15 million by 2028, registering a CAGR of 5.2% from 2022 to 2028. Strong growth of composites industry and increasing investments in wind energy sector are the critical factors attributed to the North America multiaxial woven fabrics market expansion.               

Multiaxial fabrics are used for the reinforcement of composite materials. Rising demand for high-performance materials with properties such as high strength-to-weight ratio, good tensile strength, electrical conductivity, and others drives the growth of the composites industry. Also, there is a growing demand for composites from various end-use industries such as automotive, sporting goods, marine, construction, and wind energy. In the automotive industry, manufacturers prefer lightweight materials for manufacturing automobiles while ensuring safety and performance. Lightweight materials have excellent potential to increase fuel efficiency. Composites can reduce the weight of automotive components, which increases their use in the automotive sector. There is also a high demand for composites to be used as construction materials in high-performance sports gear due to their lightweight, high strength, freedom of design, and easy processing and forming characteristics. Composites are used in sports gear such as skis, baseball bats, golf clubs, tennis rackets, and bicycle frames. Composites are highly used in the marine industry as they are durable and lightweight. Composites weigh less than traditional marine construction materials, which makes them suitable for use in boat construction. Further, composites are used as reinforcing materials in several wind energy applications. High strength and stiffness, lightweight, design flexibility, and other characteristics of composites make them perfect materials for turbines. Also, composites are increasingly used in blade reinforcements, blade laminates, spar caps, blade root joints, and spacers. Rising use of composites in different end-use industries fuels the growth of the composites industry. Hence, the strong growth of the composites industry is bolstering the North America multiaxial woven fabrics market growth.  

On the contrary, high cost of establishing and operating manufacturing unit hurdles the growth of North America multiaxial woven fabrics market.

Based on type, the North America multiaxial woven fabrics market is segmented into bidirectional fabrics, triaxial fabrics, quadraxial fabrics, and others. The quadraxial fabrics segment held 39.1% share of North America multiaxial woven fabrics market in 2022, amassing US$ 125.60 million. It is projected to garner US$ 171.46 million by 2028 to expand at 5.3% CAGR during 2022–2028.

Based on application, the North America multiaxial woven fabrics market is segmented into construction, industrial, military, consumer goods, and others. The industrial segment held 57.6% share of North America multiaxial woven fabrics market in 2022, amassing US$ 184.68 million. It is projected to garner US$ 252.52 million by 2028 to expand at 5.4% CAGR during 2022–2028.  

Based on country, the North America multiaxial woven fabrics market is segmented into the US, Canada, Mexico. Our regional analysis states that the US captured 81.1% share of North America multiaxial woven fabrics market in 2022. It was assessed at US$ 260.16 million in 2022 and is likely to hit US$ 356.29 million by 2028, exhibiting a CAGR of 5.4% during the forecast period.  

Key players profiles in the North America multiaxial woven fabrics market report 3D Weaving SaRL; Albany International Corp; Parabeam BV; SGL Carbon SE; Sigmatex (UK) Ltd; and Textum OPCO LLC, among others.

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