Specialty Fabrics Review July 2021 - 23

65%
SMALL COMPANIES
FEWER THAN 50 EMPLOYEES
organizations have been in business
for 47 years, surviving through this
pandemic, 2008's Great Recession
and the threats faced by 9/11. Most
were able to maintain the prior year's
revenues and are riding out the
pandemic as the economy begins to
turn around.
As of this writing, the U.S.
economic outlook is positive: GDP
began increasing in the third and
fourth quarters of 2020. Most
predictions are for a robust recovery
in 2021, with U.S. real GDP expected
to increase upwards of 6%2
, driven
largely by stimulus spending.
It is encouraging to know that,
collectively, companies in the industry
also have positive expectations for their
future. Some 62% expect their revenues
to increase while only 5% expect a
decrease (one-third are not sure).
Overall, respondents expect
an average increase of 8.5% in
annual revenues over the next two
years. Organizations serving the
hospitality markets anticipate the
highest increase in revenues (10%).
Those serving manufacturing and
agriculture anticipate slightly lowerthan-average
revenues.
Industry composition
Nearly half of industry participants
(46%) classify their primary business
type as end product manufacturer/
fabricator (Fig. 2). End product
manufacturers/fabricators produce
everything from awnings, canopies
and boat covers to medical safety
equipment, automobile interiors,
custom apparel and costumes, and
safety netting.
Those providing inputs (referred to
as " suppliers " throughout this report)
comprise 30% of the industry and
include suppliers (12%), distributers
(8%), raw materials/green goods manufacturers
(6%) and converters (4%).
One in 10 businesses is an
engineering, architectural or design
firm/practice ( " design firm " ).
Rental companies comprise
6% of respondents and include
organizations in the event rental
space. Installers/contractors/
construction companies ( " installers " )
make up 5% of respondents, and 3%
are equipment manufacturers.
Only one-fourth (26%) of businesses
maintain multiple roles in the industry.
Most of this overlap involves end
product manufacturers. Nine percent
of end product manufacturers are also
suppliers and 9% are also installers.
There is little overlap among other
business types.
1. https://www.bea.gov/news/2021/gross-domestic-product-4th-quarter-and-year-2020-advance-estimate.
2. https://www.conference-board.org/research/us-forecast; https://www.businessinsider.com/economicforecast-gdp-biden-stimulus-reopening-consumer-spending-inflation-ubs-2021-3.
www.SpecialtyFabricsReview.com
23
47%
OWNER / CEO /
PRESIDENT
Fig. 1
318
30%
HOLD PATENTS
47
AVERAGE YEARS
IN BUSINESS
55%
IFAI MEMBERS
RESPONSES
± 5.5% MARGIN OF ERROR
https://www.bea.gov/news/2021/gross-domestic-product-4th-quarter-and-year-2020-advance-estimate https://www.conference-board.org/research/us-forecast https://www.businessinsider.com/economic http://www.SpecialtyFabricsReview.com

Specialty Fabrics Review July 2021

Table of Contents for the Digital Edition of Specialty Fabrics Review July 2021

Specialty Fabrics Review July 2021 - Cover1
Specialty Fabrics Review July 2021 - Cover2
Specialty Fabrics Review July 2021 - 1
Specialty Fabrics Review July 2021 - 2
Specialty Fabrics Review July 2021 - 3
Specialty Fabrics Review July 2021 - 4
Specialty Fabrics Review July 2021 - 5
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Specialty Fabrics Review July 2021 - Cover3
Specialty Fabrics Review July 2021 - Cover4
Specialty Fabrics Review July 2021 - Expo Attendee Brochure 1
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Specialty Fabrics Review July 2021 - Expo Attendee Brochure 6
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