Market Overview
The coated fabrics market is set to garner massive revenues by the end of 2023, clocking in a stunning CAGR during the forecast period (2018-2023), predicts Market Research Future (MRFR) in its latest report.
Growth Drivers and Top Barriers
The quick rate of technology advancement combined with the expanding industrialization around the world has been identified as the primary reason backing the growth of the coated fabrics market. In addition, the elevation in the number of stringent regulations related to the workers’ safety will increase the need for protective clothing application. But the environmental effects of fabric manufacturing could slow down the ongoing growth of the market in the years ahead.
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A boost in the number of construction activities in the region of Asia Pacific is said to be the factor backing the growing demand for coated fabrics in awnings, furniture, canopies and wall coverings. Besides, the market is projected to be fiercely competitive during the evaluation time frame on account of the rising application scope with the use of the product increasing in the production of airbags as well as automotive interiors.
The economic revolution in the regions of Latin America as well as Asia Pacific is forecasted to present several growth opportunities to the market in the following years. Apart from this, the increasing research and development activities has resulted in the development of technologies like inkjet deposition, nanomaterial and plasma coatings and so on, which will be a significant opportunity to the worldwide market in the forthcoming years.
Market Segmentation:
The global coated fabrics market is segmented on the basis of product type and application.
The types of coated fabrics covered in the report include polymer coated fabrics, rubber coated fabrics, fabric backed wall coverings. As polymer coated fabrics depict excellent resistance to water, fire, and abrasion and are comparatively cheaper than other types of products, their demand is much higher than the others in the market. As a result, the polymer segment is projected to accumulate a substantial share of the global market in the coming years.
The applications of coated fabrics are in transportation, protective clothing, industrial, furniture, construction and others. Among these, the transportation segment is on track to increase in size during the review period, as a result of the surging demand for coated fabrics in aircraft, automobile, marine and railways applications. Therefore, the segment has managed to grab the largest share of the overall market.
Regional Analysis:
The region-wise segments in the global coated fabrics market include Europe, Asia Pacific, North America, Latin America as well as the Middle East & Africa.
Expanding at the fastest growth rate in the global market is the region of Asia Pacific, backed by the consistent expansion of automobile production in recent years. Moreover, the rising industrialization has led to the growing requirement for protective clothing, offering considerable growth opportunities to the coated fabrics market. On top of this, the rising implementations of stringent regulations for industrial safety put down by the Industries Development and Regulation Act of India as well as Fire Safety Forum Asia (FFSA) are most likely to elevate the position of the market in the region.
After Asia Pacific, the global market is led by the regions of North America and Europe. The hike in the number of oil and gas activities in the United States (U.S.) following the shale gas expansion coupled with the strict FDA regulations has increased the application of protective clothing within the region. this factor is expected to be responsible for the growing demand for coated fabrics in the years to come. In addition, the existence of prominent automobile manufactures in North America and Europe will bring further success to the markets in the evaluation period.
The market in the Middle East and Africa will experience a noteworthy growth as well, as the coming years will witness expansion of the construction and oil and gas activities in the area. Adding on, the growing production of passenger vehicles, particularly by the PSA Group is predicted to stimulate the growth of the market to a large extent. In this context, the PSA Group had made a sale of almost 383,489 vehicles in the year 2016 within the region. The company is also planning to continue with its sales with the automobile industry predicted to increase from 5.9 million vehicles in 2016 to more than 8 million by 2025.
Top Vendors:
Some of the top vendors operating within the worldwide coated fabrics market include Trelleborg AB (Sweden), Graniteville Specialty Fabrics (U.S.), ContiTech AG (Germany), Sioen Industries NV (Belgium)., Heytex Bramsche GmbH (Germany), Omnova Solutions inc (U.S.), Isotex S.p.A. (Italy), Saint-Gobain (France), Serge Ferrari Group (France), Mauritzon Inc (U.S.), Takata Corporation (Japan), and so on.
Industry Developments:
May 2019
Free People has launched activewear styles which has been created using ECONYL which is a sustainable yarn made in Italy. The material is a completely regenerated nylon fiber developed using discarded waste that has been gathered from oceans and landfills.
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TABLE OF CONTENTS:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Bargaining Power Of Suppliers
4.1.4 Threat Of Substitutes
4.1.5 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Coated Fabrics Market
5 Industry Overview Of Global Coated Fabrics Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
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