10-December-2018: According to a report published by Grand View Research, Inc.; the coated fabric market is likely to reach a valuation of around USD 22.6 billion by 2020.
Rapid industrialization and infrastructure development, rising demand for protective clothing due to presence of strict regulations regarding workers’ safety, and technological advancements can propel the market during the forecast period forecast period (2012 to 2020). In addition, increasing use of rubber coated fabrics in the making of military wear and protective clothing is expected to support the market growth.
Increasing investments in industries such as automotive, construction and infrastructure, oil and gas, and chemical and manufacturing industries is expected to create positive impact on the market. The product can be extensively used in the manufacturing of many industrial products such as PTFE tapes and conveyor belts. Additionally, growing use of these fabrics as a low-cost substitute leather for trims and upholstery can have positive impact on the market. Moreover, increasing technological developments for reducing raw material prices, and faster, and efficient production can boost the market in the years to come. Emerging technologies like inkjet deposition, nanomaterials, and plasma coating are expected to provide remarkable opportunities in the market.
Increasing investments in industries such as automotive, construction and infrastructure, oil and gas, and chemical and manufacturing industries is expected to create positive impact on the market. The product can be extensively used in the manufacturing of many industrial products such as PTFE tapes and conveyor belts. Additionally, growing use of these fabrics as a low-cost substitute leather for trims and upholstery can have positive impact on the market. Moreover, increasing technological developments for reducing raw material prices, and faster, and efficient production can boost the market in the years to come. Emerging technologies like inkjet deposition, nanomaterials, and plasma coating are expected to provide remarkable opportunities in the market.
However, the environmental impact of fabric manufacturing is expected to hinder the market growth.
Worldwide coated fabric market can be segmented on the basis of product, application, and region.
Based on product, the market can be split into polymer coated fabric, fabric backed wall coverings, and rubber coated fabric.
In 2016, polymer coated fabric segment estimated for for over 85% of the overall market share due to its usage in healthcare, furniture, and automotive. The segment is likely display high growth during the forecast period due to growing automobile production in India and China. This type of fabrics is extensively used to manufacture automotive airbags and protective clothing. The fabric backed wall covering segment is anticipated to show significant growth due to increasing demand from urban housing sector.
As per application, the market can be transportation, protective clothing, industrial, furniture, and others. In 2016, the transportation was reported as the major segment and accounted for 35.7% of the total market. The segment is anticipated to display high CAGR of 5.5% due to rising use of airbags in automobiles.
In 2016, the protective clothing segment estimated for 15.7% of the overall revenue and anticipated to attain USD 3.61 billion through 2020. Increasing industrialization and government efforts for execution of safety standards in India and China can drive the segment over the forecast period.
Geographically, the market can be divided into North America, Europe, Asia Pacific, and Rest of the World (RoW).
North America is expected to grow on account of growing use of these fabrics in automotive and protective clothing application. Increasing demand for protective clothing in chemical and other similar industries owing to stringent FDA regulations is expected to drive the market in this region.
Asia Pacific is likely to show higher growth rate of 6.8% during the forecast period due to increasing use in the manufacturing of automobile covers, airbags, and tarpaulins. Factors such as rapid infrastructure development, urbanization, and increasing disposable income are expected to drive the market in this region. In 2016, the consumption of these materials estimated over 1900 million square meters in this region. Growth in automotive industry in emerging countries along with growing use of the product in the manufacturing of household furniture is anticipated to boost the product demand in the coming years.
Latin America is also projected to provide several growth opportunities to the market. But, increasing government efforts to reduce the environmental pollutions and shortage of raw material due to the civil disturbance in Middle Eastern and North African countries are expected to hamper the market growth.
Key players operating in the market include Mauritzon, Inc.; Spradling international; Takata Corporation; Graniteville Specialty Fabrics; and Conti Tech AG.
This industry is capital intensive, therefore expected to act as barrier to new entrants. Manufacturers are taking more efforts to conduct research and development activities due to instable raw material prices and strict environmental protection rules.
In-Depth Research Report On Coated Fabrics Market:
https://www.grandviewresearch.com/industry-analysis/coated-fabric-market
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