Awnings Fabric Market Size, Share, Growth, and Industry Analysis, By Type (Canvas Awning Fabric, Acrylic Awning Fabric, Vinyl Awning Fabrics, Polyester Fabrics and Others), By Application (Residential, Commercial and Industrial), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

Awnings fabric market REPORT OVERVIEW

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The global Awnings fabric market size was USD 288 million in 2022 and is projected to touch USD 330.1 million by 2028, exhibiting a CAGR of 2.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Awning fabrics are very different from other textiles. They have an advanced set of properties which allow them to withstand annual changes in temperature, along with the other challenges posed by life outdoors, including UV lightening and damage caused by rain or dirt. They are strong enough to resist tearing effectively, even on seams and hems, and stay taut despite being opened and closed thousands of times. Awnings were once made from canvas. Acrylic was a synthetic alternative which replaced canvas in the early 1960s, while polyester arrived in recent years using environmentally-conscious manufacturing processes. Acrylic looks and feels like canvas, while polyester has a thinner, flatter texture with a matt surface. Polyester’s more recent development meant a high-tech composition, with advantages in terms of strength, light fastness, UVA and UVB projection and nano-coatings. Acrylic has developed and now offers similar properties in these areas. Therefore  the main difference is in the texture and feel of the fabric. Synthetic awning fabric is generally made from vinyl, acrylic, polyester, or a combination of any of the three. The way that synthetic fabric is formed and how it is coated, backed, and dyed will all make a difference in how it performances.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 problem has had an impact on the global economy, causing a strict lockdown and a halt to day-to-day activities in every industry. With the limits imposed by the government, the panic scenario has had a negative influence on the industries. This has resulted in a market drop as well; there was a direct and indirect impact from numerous sectors producing Awnings Fabric. With the revival of the market following COVID-19, we are seeing a recovery of the market where the blanks are restructured with product innovation and investments into R&D activities to develop advanced technologies to meet advanced requirements, which will project a proposed increase in the Awnings fabric market share in the forecasted period.

LATEST TRENDS

"Rising Environmental Consciousness and Energy Efficiency Concerns Fueling Growth in Market "

 One of the major trend in the market has been the surging demand for sustainable and energy-efficient solutions, which is significantly influencing the market's trajectory. This trend is fundamentally driven by a growing global awareness of environmental issues and the imperative to reduce energy consumption. As both consumers and businesses increasingly recognize the need for environmentally responsible choices, the appeal of awnings crafted from eco-friendly materials has soared. These awnings not only offer shade and temperature control but also contribute to reducing energy bills and carbon footprints by minimizing the need for excessive cooling systems. In response to this demand, manufacturers have been spurred to innovate, leading to the development of awning fabrics with superior UV resistance, prolonged durability, and recyclable properties. Consequently, the industry is experiencing a notable transformation, with sustainable and energy-efficient awning fabrics emerging as a pivotal driver for market expansion.

Awnings fabric market SEGMENTATION

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• By Type

Based on type market is classified as Canvas Awning Fabric, Acrylic Awning Fabric, Vinyl Awning Fabrics, Polyester Fabrics and Others.

• By application

Based on application market is classified as Residential, Commercial and Industrial.

DRIVING FACTOR

"Growing Awareness of Sun Protection and Comfort to drive Market Growth"

The market is experiencing substantial growth, largely propelled by the growing awareness of sun protection and outdoor comfort. In recent years, there has been a notable surge in public awareness regarding the harmful effects of prolonged sun exposure. Research and public health campaigns have highlighted the risks associated with UV radiation, such as skin cancer and premature aging. This increased awareness has prompted individuals and businesses alike to seek effective solutions for sun protection, both indoors and outdoors. As the awareness of sun-related health risks grows, there is a corresponding rise in the demand for products that offer sunshade and protection. Awnings, with their ability to provide shade and reduce UV radiation, have emerged as a practical and appealing solution. Homeowners are installing awnings to create shaded outdoor spaces where they can enjoy leisure activities, entertain guests, or simply relax without exposure to the harsh sun. Similarly, businesses in the hospitality, restaurant, and commercial sectors are incorporating awnings into their establishments to enhance customer comfort and safety, which has led to the market expansion. Manufacturers and suppliers are responding to this demand by producing a wide range of awning fabrics and systems designed to offer effective sun protection and create comfortable outdoor environments. Consequently, the market continues to flourish as consumers prioritize both health-conscious and enjoyable outdoor living.

"Architectural and Aesthetic Advancements to Fuel Market Growth "

Another significant driving factor in the Awnings fabric market is the continual advancement of architectural designs and the growing importance of aesthetics in building structures. Architects and designers are increasingly incorporating awnings into building plans to enhance both functionality and aesthetics. This includes integrating awnings into the overall architectural design of homes, commercial properties, and public spaces. As architectural trends evolve, there is a greater emphasis on creating visually appealing and functional outdoor areas. The integration of awnings into architectural designs has resulted in a surge in demand for aesthetically pleasing awning fabrics and systems that complement the overall look of buildings. Awnings are no longer just functional; they are seen as design elements that can enhance the curb appeal and attractiveness of structures. Consequently, the market is expanding as consumers seek fabric options that not only provide shade and protection but also contribute to the overall aesthetics of their outdoor spaces, which has led to the continued awnings fabric market growth of the, with manufacturers offering a wide range of fabric choices to meet these evolving design preferences.

RESTRAINNG FACTOR

"High Initial Installation Costs to Impact Market Growth"

A significant restraining factor in the market is the relatively high initial installation costs associated with awnings. The cost of purchasing and installing awnings, especially for larger or customized projects, can be substantial. This includes expenses for materials, labor, and, in some cases, structural modifications to accommodate the awnings. For both residential and commercial customers, these upfront costs can be a barrier to entry. The perception of high initial costs can deter potential customers from investing in awnings, even though they offer long-term benefits such as energy savings, UV protection, and enhanced outdoor comfort. This restraint is particularly noticeable in price-sensitive markets or among consumers with budget constraints. Additionally, businesses may hesitate to allocate budgetary resources for awning installations, impacting the market's growth potential in the commercial sector.

Awnings fabric market REGIONAL INSIGHTS

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"North America Expected to Hold Major Share of the Market due to Rapid Urbanization"

Based on region, the global awnings fabric market is classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa, where North-America is dominating the global market and is expected to dominate during the forecast period owing to the need for sun protection during hot summers. Urbanization and a focus on outdoor living spaces have driven the market, with a growing number of residential and commercial properties incorporating awnings into their designs. Awareness of energy efficiency and sustainability is encouraging the adoption of awnings as they help reduce cooling costs in warm regions.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The awnings fabric market is extremely competitive and consists of various global and regional players. Global market is majorly driven by the top manufacturers, which holds higher share of the market. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is an extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of market players Profiled

• Glen Raven, Inc (U.S.)
• Recasens (U.S.)
• Twitchell (U.S.)
• Graniteville (U.S.)
• TenCate (Netherlands)
• Marlen Textiles (U.S.)
• SunSetter (U.S.)
• Herculite (U.S.)
• Cooley (U.S.)
• Para SpA (Italy)
• Giovanardi GmbH (Germany)
• Schmitz-Werke GmbH (Germany)
• Sunesta (U.S.)
• SRF Limited (India)
• Sattler (Austria)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.