The global coated fabric market size is expected to reach USD 22.6 billion by 2020, expanding at a CAGR of 4.6%, according to a new report by Grand View Research, Inc. Growing automotive industry in the Asia Pacific, owing to the rapid urbanization and rising disposable income is expected to drive the demand for coated fabrics over the forecast period.
Rapid technology development coupled with growing industrialization is a key growth driver for the market. Moreover, implementation of strict regulations concerning workers’ safety is expected to boost the demand for protective clothing application. However, the environmental impact of fabric manufacturing is presumed to be a restraining factor for the development of the industry over the forecast period.
Renewed construction activities in the Asia Pacific are expected to benefit the demand for coated fabrics in furniture, awnings, wall coverings and canopies. The market is expected to be highly competitive over the forecast period due to increasing application scope wherein the product is being used for the production of airbags and automotive interiors.
Economic reforms in the Asia Pacific and Latin America is expected to offer growth opportunities to the market. However, increasing government initiatives targeted at curbing the environmental pollutions and limited raw material availability owing to the civil unrest in Middle Eastern and North African countries may hamper the growth the market.
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Further key findings from the report suggest:
Polymer coated fabric accounted for over 85% of the total market share in 2016, owing to its increasing use in automotive, healthcare, and furniture applications where high fabric strength is a prerequisite.
Transportation sector is expected to witness a significant CAGR of 5.5% owing to the increasing use of airbags in automobiles in order to follow stringent norms by government for ensuring driver and passenger safety.
Asia Pacific is estimated to be the fastest growing region and expected to witness a growth rate of 6.8% over the forecast period on account of rising use in the production of automobile covers and tarpaulins
The coated fabrics market exhibits a degree of consolidation owing to the vertical integration across the value chain by major players in order to lower the production cost by reduction of the logistics.
Grand View Research has segmented the global coated fabrics market on the basis of product, application, and region:
Coated Fabric Product Outlook (Volume, Million Square Meters; Revenue, USD Million; 2012 - 2020)
Polymer coated fabric
Rubber coated fabric
Fabric backed wall coverings
Coated Fabric Application Outlook (Volume, Million Square Meters; Revenue, USD Million; 2012 - 2020)
Coated Fabric Regional Outlook (Volume, Million Square Meters; Revenue, USD Million; 2012 - 2020)
Rest of the World
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