Elastic Narrow Fabric Market Size, Share, Growth, And Industry Analysis, By Type (Woven, Knitted, Others), By Application (Apparel, Underwear, Others), Regional Insights, and Forecast To 2031

Elastic Narrow Fabric Market Report Overview

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The global elastic narrow fabric market size was 1226.8 million in 2022 and is expected to reach USD 1759.29 million by 2031, exhibiting a CAGR of 4.1% during the forecast period.

Any textile fabric with two selvages and a width of less than 45 cm is referred to as a narrow fabric. Narrow materials are strong, not resistant to heat, resistant to stretching, and resistant to abrasion. They are little fabric strips that are often made for a particular, useful function. Most frequently used objects that are also narrow materials are cords, braids, and lanyards. Cotton, satin, velvet, nylon, and other materials are used to make thin fabrics. The majority of the time, narrow cloths are employed for decoration. They can be used in a wide range of industrial and domestic settings. There is a wide variety of straps and webs produced with specialized performance functions. In addition, these materials are utilized for specialized (elastic and non-elastic) purposes, transportation, safety (belts, harnesses), sports, and bags (disposable, duffel, promotional, ski,)

The need for fibers and yarns to make clothing and home textiles is predicted to rise throughout the forecast period, which is expected to benefit the global textile sector. The market expansion is driven to the rising demand for elastic clothing across a variety of industries, including daily attire, healthcare, sports, and others. Additionally, this industry is expanding as people become more aware of the advantages of wearing elastic clothing. The market for elastic clothing sales worldwide is dominated by North America, followed by Europe and Asia Pacific.

COVID-19 Impact: Disrupted Supply Chain Issues in Industry leading drop in market growth

The COVID-19 pandemic has been unprecedented and staggering, with the Elastic Narrow Fabric market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Due to the disruptions to the supply chain for items made of elastic narrow fabric, Covid-19 had a detrimental effect on the market for elastic narrow fabric globally. Additionally, rising raw material prices, notably those for cotton and cotton yarn, had a negative impact on the market for elastic fabrics throughout the COVID-19 era. The global lockdown and temporary shutdown of fabric manufacturing facilities brought about by the COVID-19 pandemic had an effect on the expansion of the elastic thin fabric market globally. It further had an effect on the entire supply chain, driving up the cost of raw materials, particularly cotton and cotton yarn. This aspect made elastic thin fabric production more labor-intensive, especially at first. Additionally, the global market for elastic thin fabric has less demand due to the drop in consumer income.

Latest Trends

"Rising applications in technical and textile industry leading market expansion"

The technical textile sector is viewed by many sectors as strategically important in both current and future markets. A wide range of applications are increasingly using technical textiles. Applications for narrow materials can be found in the clothing industry. In the clothing industry, narrow textiles are frequently used. Among the names are safety vests, sporting goods, pet collars and leashes, backpacks, golf cart bag holders, horse halters, athletic gear, camping gear, and shoelaces. Narrow textiles are used to create child restraints and carrier racks for the automotive industry. This material is used to create non-elastic straps for use in the medical industry. Narrow textiles are utilized in the marine sector for boat tops, cushions, and curtains. During the anticipated period, the market expansion is being driven by the aforementioned reasons.

Elastic Narrow Fabric Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into woven, knitted, others woven is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into apparel, underwear, others. Apparel will be the dominating segment.

Driving Factors

"Rising Industrial Fabric Demand from Various Raw Materials"

The expansion of the global elastic narrow fabric market is being fueled by the expanding online retail industry, which in turn is driving up demand for industrial fabrics. the rise of Western culture over the world and consumers' growing disposable wealth. Due to its softness and ability to offer a tremendous amount of comfort, cotton is the most popular raw material in the market for elastic narrow fabrics. Additionally, shoppers are beginning to see jeans made of polyester and spandex depending on their needs. Teaming up with well-known influencers and using celebrity endorsements in marketing. The worldwide industrial fabric industry is projected to expand due to an increase in celebrity brand endorsements. Working with influencers increases the sales of elastic fabrics since they are knowledgeable about the products they are pushing. Influencers are also valued for their credibility and relevance because they are thought to be experts in their respective fields.

"The market for elastic, narrow fabrics will benefit from cooperation with Village Industries"

The elastic narrow fabric market will see increased sales through collaboration with the newly developing local village enterprises. Manufacturers of denim fabric intend to concentrate on quality and supply expansion globally. For instance, Arvind Limited has partnered with local businesses to cross-sell their elastic narrow fabrics in order to reach a broad customer base.

Restraining Factors

"Concerns about Fluctuating Raw Material Prices Limiting Market Growth"

Due to the high cost of manufacturing industrial fabrics, the elastic narrow fabric industry is projected to experience slow market expansion due to volatile raw material prices. The elastic narrow fabric market's sales may suffer from price fluctuations brought on by high mill usage and currency exchange.

Elastic Narrow Fabric Market Regional Insights

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"Asia Pacific will be the dominating region during forecast period"

In terms of revenue share, Asia Pacific led the world market and is anticipated to keep leading over the forecast period. The area is anticipated to experience a sizable CAGR between 2022 and 2030. Increased smartphone adoption, increased consumer disposable income, and shifting consumer lifestyles in emerging nations like China and India are all contributing factors to this growth. The Asia Pacific region's market comprises nations like China, Japan, South Korea, and Australia among others. These nations have high population densities and significant purchasing power, making the region an appealing market for businesses trying to increase sales volumes at reduced costs. In addition, over the next few years, demand will increase due to the combination of increased urbanization and a booming e-commerce sector.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP ELASTIC NARROW FABRIC COMPANIES

• Stretchline (U.S.)
• Taiwan Paiho (Taiwan)
• Fulflex (U.S.)
• Asheboro Elastics Corp (U.S.)
• Rimteks (Turkey)
• Spica Group (India)
• Hung Hon (4K) (China)
• Premco Global (India)
• SANKEI (Japan)
• Amanda Textile (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.