July 14, 2024
Luxury Upholstery Fabric Market

The Growing Demand For Home Decor Fabrics Is Anticipated To Openup The New Avenue For Luxury Upholstery Fabric Market

Market Overview:

Luxury upholstery fabrics are high-quality fabric materials used for home and commercial furniture upholstery. They are known for their durability, aesthetic appeal, easy-care properties and high resistance to wear-and-tear. Key luxury upholstery fabrics include woven fabrics made from natural fibers like cotton, linen, silk and wool and synthetic materials like polyester, acrylic and nylon. They are extensively used for sofas, beds, chairs and other furniture in residential and commercial spaces.

The Luxury Upholstery Fabric Market was valued at US$ 5.58 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

Growing demand for home decor and rising consumer spending on home furnishing are some of the major drivers for the luxury upholstery fabric market. Additionally, rapid growth of the hospitality sector and infrastructure development of commercial properties such as hotels, offices are fueling the demand for luxury fabrics in commercial furnishings. Furthermore, increasing penetration of e-commerce platforms for home and interior products and introduction of advanced fabrics with superior quality and features by manufacturers are expected to create new opportunities over the forecast period. However, high costs associated with luxury fabrics and availability of cheaper substitutes may hamper the market growth.

Segment Analysis

The luxury upholstery fabric market can be segmented based on material, end use and distribution channel. The material segment is further divided into cotton, leather, wool, silk and others. Among these, wool segment accounts for the largest share owing to its durability, comfort and luxurious look. The end use segment includes residential and commercial. The residential segment dominates the market due to growing demand for luxury furniture in homes.

Global Luxury Upholstery Fabric Market Segmentation

  • By Material Type

  • Wool
  • Silk
  • Cotton
  • Leather
  • Velvet
  • Linen
  • Others (Polyester, Acrylic, Nylon, Viscose, etc.)
  • By Application

  • Upholstery
  • Curtains
  • Carpets
  • Wall Covering
  • Bags & Accessories
  • Apparel
  • Others (Table Linen, Blankets, etc.)
  • By End-use Sector

  • Residential
  • Commercial
  • Hospitality
  • Healthcare
  • Institutional
  • Others (Automotive, Aircraft, etc.)
  • By Distribution Channel

  • Online
  • Offline
  • By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

PEST Analysis

Political: The stringent government regulations regarding usage of chemicals in fabric production may hamper the growth. However, favorable tax exemptions and subsidies for manufacturers support the market.

Economic: Rising disposable income and improving living standards drive the demand. Market is positively impacted by growth in real estate sector and increase in construction of commercial spaces.

Social: Changing lifestyle, growing preference for luxury furnishings and high demand for premium furnishings boost the market. Rapid urbanization also contributes to market growth.

Technological: Adoption of advanced weaving techniques, automation and digitalization helps fabric manufacturers in improving production efficiency and quality. Innovation in fabric treatments enhances aesthetics and durability.

Key Takeaways

The global Luxury Upholstery Fabric Market Size was valued at US$ 5.58 Bn in 2023 and is projected to reach US$ 9.71 Bn by 2030, exhibiting a CAGR of 7.3% during the forecast period. Rapid growth in real estate construction projects and rising expendable income are fueling the market growth.

Regionally, North America dominates the luxury upholstery fabric market and is anticipated to grow at a significant rate owing to rise in home remodeling and renovation activities in countries like US and Canada. The presence of major home furniture manufacturers is driving the regional demand.

Key Players operating in the luxury upholstery fabric market are Fabricut Inc., Aquafil S.p.A., Brentano Inc., Carnegie Fabrics LLC, Designtex, Kravet Inc., Maharam Fabric Corporation, Marvel Textiles, and others. Fabricut Inc. commands a leading market position due to wide range of premium fabric offerings and strong global distribution network. Other key players are focusing on new product launches, mergers, acquisitions and partnerships for business expansion.

Reasons to Purchase Luxury Upholstery Fabric Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Luxury Upholstery Fabric Market.

FAQ’s

Q.1 What will the market development pace of the Luxury Upholstery Fabric Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the Luxury Upholstery Fabric Market?

Q.3 What are the market opportunities and threats faced by the vendors in the Luxury Upholstery Fabric Market?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it