growing residential and commercial construction industry is driving the Blanket Market
Technavio analyzes that the Blanket Market is expected to grow at a CAGR of 3.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1595.6 million.There are various factors that contribute to the growth of the market. The thriving residential and commercial construction sector is fueling significant growth in the Blanket Market. This industry's expansion creates a surging demand for blankets, as new buildings require insulation for energy efficiency and temperature regulation. Additionally, renovation projects and infrastructure development further boost market growth. Consequently, manufacturers and suppliers of blankets are poised to capitalize on this trend, ensuring a robust future for the Blanket Market.
The global blanket market caters to various consumer segments, including hikers, alpinists, and outdoor sports enthusiasts, who require blankets for protection against cold and sun. The market is segmented into offline and online distribution channels. Offline channels, such as retail outlets, remain preferred due to the tangible product experience they offer. Brands leverage this platform to engage consumers through discounts, quality checks, product replacement facilities, and warranty schemes, ensuring customer satisfaction and loyalty. Given the essential nature of blankets as home utility items, offline sales are expected to dominate the market, with retail outlets providing a unique shopping experience that fosters consumer confidence and trust. Key materials used in blankets include composite materials like polythene terephthalate and aluminium layers, which offer superior insulation and protection against extreme temperatures.
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Blanket Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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A blanket, available in various forms such as first aid blankets, safety blankets, emergency blankets, thermal blankets, heat sheets, weather blankets, is a lightweight, compact essential component for numerous situations. Its heat reflective properties help prevent heat loss during cold conditions, protecting against hypothermia. It's also windproof and waterproof, making it suitable for camping and survival kits. In emergency situations like trauma or accidents, these blankets can provide vital warmth for chest wounds or serve as a valvular dressing. They come in different materials like plastic sheeting, silver, or gold, and offer protection from both the cold and the sun. Often included in first aid kits and ambulances, these blankets are an indispensable part of safety and survival equipment.
The Blanket Market, a segment of the larger Home Furnishings Industry, encompasses businesses involved in the production and distribution of various types of blankets, including first aid, safety, emergency, thermal, heat sheets, weather, and lightweight blankets. These blankets serve diverse functions, such as thermal control, heat reflection, and heat loss prevention, catering to both consumer and commercial markets. Key growth drivers for this market include the increasing residential and commercial construction sectors, with a focus on infrastructure development and the subsequent demand for new furniture and furnishings. Additionally, the rising number of renovation projects in major economies like the US, China, and India further boosts market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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