Demand From Major End-Use Industries To Drive The Coated Fabrics Market Growth
Global Coated Fabrics Market: Key Highlights
- According to the new market research report “Coated Fabrics Market by Product (Polymer-Coated Fabrics, Rubber-Coated, and Fabric-backed Wall Coverings), by Coating Method (Direct Coating, Foam & Crushed Foam Coating, Hot Melt Extrusion Coating, Transfer Coating, Calendar Coating, and Others), by End-use Industry (Architecture & Construction, Automotive, Aerospace, Agriculture, Medical, Sports & Leisure, Packaging, and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global coated fabrics market is projected to reach a value of over USD 32.2 billion, registering a CAGR of 3.3% during the review period
- Coated fabrics are fabrics that have been coated, covered, or treated with various substances to enhance their properties such as strength, durability, and appearance
- Some of the coatings substances include lacquer, varnish, rubber, plastics, resins, oil finishes, etc.
- Use of nanomaterials to achieve desirable properties such as antimicrobial, flame retardant properties, photocatalytic, dirt-repellent, others is likely to open up new growth avenues in this market
- However, the availability of substitutes and fluctuations in raw material prices are key restraining factors for the market growth
- The high cost associated with the recycling of coated fabrics is a major challenge in the global coated fabrics market
Global Coated Fabrics Market: Key Market Dynamics
- Rapid industrialization and urbanization, mainly in the BRICS countries is projected to drive the market during the assessment period
- Coated fabrics are widely used in scaffolding nets, awnings and canopies, tarpaulins, architectural membranes, and roofing materials. The use of coated fabrics prevents the building from UV rays, corrosion, dirt, oil repellence, and radiation
- According to PWC, the global construction industry is projected to reach USD 15.5 trillion by the end of 2030
- In addition to the above-mentioned applications, coated fabrics are used in geotextiles, roadways, parking lots, loading areas & construction sites, horticulture, and others
- The use of coated fabrics in the automotive industry for manufacturing seat upholstery, airbags, seat belt, truck tarpaulin & covers, boat seating, boat topping, rafts, etc. is yet another key driver of the global coated fabrics market
- High production and sales of automobile across the globe is fueling the demand for coated fabrics
Global Coated Fabrics Market: Regional Overview
- North America
North America accounted for the largest market share in 2018 due to the high demand from the architecture & construction industry. For instance, the US Census Bureau states that construction spending in the US was USD 1,327.7 billion in December 2019. Moreover, the US has the world’s one of the leading aerospace industry with a GDP contribution of USD 374 billion in 2018.
Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding end-use industries. Rapid industrialization and urbanization in emerging economies such as India, Thailand, Vietnam, and Malaysia is expected to fuel the market growth during the review period. In addition to this, coated fabrics are used in agriculture for containers, fencing, coverings for crop protection, bags, shading materials, etc., which further drives the regional demand for coated fabrics.
Global Coated Fabrics Market: Key Players Overview
- Trelleborg Group:
Trelleborg Group is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. It has operations in more than 51 countries with over 24,000 employees. In February 2018, Trelleborg Coated Systems, a business segment of the company acquired the privately-owned UK-based company Dartex Holdings Ltd., a manufacturer of coated fabrics primarily for the healthcare & medical industry.
- Sioen Industries NV:
Sioen Industries NV is one of the market leaders in coated technical textiles and technical apparel. On 20th December 2019, the company acquired Dickson Coatings from Glen Raven Inc., a Belgium-based leading producer of PVC coated technical fabrics. This was the company’s strategy to strengthen its position in multiple markets, including transportation, industrial, environmental, tensile structures, solar protection, tents, and inkjet printing.
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