Coated Fabrics Market Is Projected To Be Around $ 26.99 Billion By 2025
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A research study titled, “Coated Fabrics Market by Product, Application, Source Type, and Modality - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the Coated Fabrics Market is projected to be around $ 26.99 billion by 2025.
The global Coated Fabrics Market was worth USD 18.83 billion in the year 2016, and is expected to garner around USD 26.99 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 4.08% during the forecast period. Coated fabrics comprise of fabrics that have a coating of polyethylene, varnish, lacquer, rubber, plastic or any kind of substrate that assists in enhancing its mobility and makes it sustainable. Certain significant features of coated fabrics such as high level of elasticity, thermal management properties, high water resistance, draping ability, the absence of stickiness and improved insulation increases its usage in applications like transportation, furniture, protective clothing and tents. Coated fabrics are extensively used in a variety of products such as upholstery, tarpaulins, clothing and airbags. These fabrics are excessively advantageous in sectors like construction, automotive, apparel and manufacturing. Moreover, they are also used in medical laminates and medical inflatables.
The coated fabrics market has witnessed considerable growth on account of its benefits as protective clothing for people working in the industrial sector. Increasing industrialization coupled with advancements in technology is anticipated to boost the coated fabrics market. Increasing development in the automotive sector is anticipated to boost the market owing to rising demand of coated fabrics for the manufacturing of airbags in the sector. Moreover, the increasing number of sales of motor vehicle in emerging countries like Brazil, China and India is expected to spur the growth of this market. Growing demand of protective clothing due to its excess requirement is sections like chemical processing, agriculture and food processing is one of the major factors that influences the development of this market.
On the basis of target audience the coated fabrics market is segmented into coated fabric manufacturers, Government and research organizations, Industry associations, Distributors and End-use industries. On the basis of product the market is segmented into Polymer Coated Fabrics, Fabric-backed Wall Covering and Rubber Coated Fabrics. On the basis of application the market is segmented into Roofing, Transportation, Canopies & Awnings, Industrial, Protective Clothing and Furniture & Seating. The leading companies in this market are OMNOVA Solutions, Spradling International Inc., Takata Corporation, Saint-Gobain, Isotex S.p.a, Trelleborg Treasury, Graniteville Specialty Fabrics, Bo-Tex Sales Co and Mauritzon Inc. Geographically, North America, Asia Pacific, Europe and Rest of the world.
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Key findings of the coated fabrics market
- The demand of coated fabrics in2013 was 3,400.2 million square meters and is said to grow significantly in the following years.
- The largest regional market was Asia Pacific that registered a profit of USD 7,600 million in the year 2013. Owing factors like increasing automotive requirement and growing population the market is expected to boost in the upcoming years.
- In 2013 polymer coated fabric registered more than 85 percent of the market share owing to its extensive usage in healthcare, automotive, furniture and protective clothing.
- Europe and North America are anticipated to witness considerable demand in the upcoming years on account of excessive utilization in sectors like healthcare and automotive.