15-Nov-16 The global coated fabrics market is projected to reach US$24.91 bln by 2021, at a CAGR of 4.1% from 2016 to 2021, as per Research and Markets. The global coated fabrics market is driven by the increased demand from end-use applications, such as, transportation, protective clothing, industrial, furniture & seating, and roofing, awnings & canopies and others including geotextiles, packaging, sports & leisure, agriculture and medical. Coated fabrics are anti-static, antibacterial, and anti-fungus in nature and offer advantages such as enhanced elasticity, high-visibility, weldability, and resistance to flame, UV radiation, chemical, oil, water, stain, scratch, and abrasion, among others.
Polymer coated fabrics account for the largest product type in the global coated fabrics market. The polymer coated fabrics segment is further segmented into vinyl coated fabrics, Polyurethane (PU) coated fabrics, Polyethylene (PE) coated, and other polymer coated fabrics. Other polymer coated fabrics include acrylic, nylon 6, nylon 6-6, Polyamide (PA), Polycarbonate (PC), Polyether ether ketone (PEEK), Polybutylene terephthalate (PBT), and Polyethylene terephthalate (PET). The global market for polymer coated fabrics is estimated to witness high growth owing to the increasing usage in various applications and due to its reduced cost, easy weldability, and availability in a range of colors. Coated fabrics can also be easily painted or printed.
Transportation is estimated to be the fastest growing application of coated fabrics. The transportation segment is projected to drive the coated fabrics market from 2016 to 2021 due to the increasing usage of polymer and rubber coated fabrics in automobile, aircraft, railways, and marine applications. The automotive industry is growing at a high rate since its revival, post the financial meltdown in 2008. In the automotive industry, safety is a crucial consideration for car manufacturers. Coated fabrics are appropriate for a wide range of automotive end-uses such as interior, exterior, air bags, seat belts, and truck tarpaulin & covers, boat seating, boat topping, rafts, and kayaks. The automotive industry is already growing at a robust pace, which is expected to drive the global market of coated fabrics during the forecast period.
The Asia-Pacific region is the fastest-growing market for coated fabrics in terms of value and volume, globally. Growing industrialization backed by infrastructure development has offered enormous growth opportunities for the coated fabrics market in the Asia-Pacific region. The high economic growth and heavy investments in industries such as oil & gas, automotive, infrastructure, chemical, and steel & military, drives the coated fabrics market in the region. Environmental concerns relating to the use of solvents in the production of coated fabrics and the availability of substitutes are the factors restraining the growth of the market. Competitiveness in the coated fabrics market is increasing with the innovations and new product launches. Major players have undertaken strategic developments to strengthen their positions in the global coated fabrics market.
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