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The global industrial fabrics market was estimated to be valued at US$120 billion in 2010 with the Japanese producing approximately us$5.9 billion worth of high performance industrial fibres. By 2011, the market was estimated to be worth US$126 billion. The Japanese industrial fabrics market is expected to expand over the next few years despite slow growth or the threat of recession in the world's more developed countries and markets.
The United States industrial fabrics market has recently suffered from the KORUS trade agreement between South Korea and the US, where imports of South Korean goods will enjoy duty-free entry into the market whilst exported US goods have a 10% import tariff included. This agreement has impacted on the fortunes of the industrial fabrics market. The United States industrial fabrics market was estimated to be worth US$29 million in 2011.
The new KORUS trade agreement is likely to threaten jobs in the specialty fabrics industry as Korea has a very sophisticated, vertically integrated industrial textile industry, recently receiving government financial support to build extra manufacturing capacity.
Companies manufacturing industrial fabrics are having to focus on the production of more high-end and high-value products to compete effectively with the Asian manufacturers with cheaper access to labour.
The main exhibitions covering the industrial fabrics industry are IFAI or the Industrial Fabrics Association International, Expo Asia and IFAI Expo America.
To view more details about the industrial fabrics markets, please click the following link: Industrial Fabrics Market Reports
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