The global coated fabric market size was USD 34.93 billion in 2020 and is projected to reach USD 49.45 billion by 2030, exhibiting a CAGR of 4.9% during the forecast period (2021-2030).
Coated fabrics are coated, covered, or treated with various substances like varnish, rubber, lacquer, and thermoplastic coatings, making them last longer and resistant to water, dust, oil, and other liquids. These are produced from smooth and pile fabrics. It is also combined with porolon to make them softer.
The rise in concern for safety measures in the transportation application is rising the growth rate of the Coated Fabrics Market Size. The strict regulatory requirements for laborer and worker safety are chiefly driving the protective clothing segment of the coated fabrics market. Moreover, the rapid technological advancements aimed at decreasing raw material prices and achieving faster and more efficient production is another growth factor driving the Coated Fabrics Market Growth.
The growth of rapid industrialization with infrastructure development shows a positive impact on the Coated Fabrics Market. The increase in investment in automotive, chemical construction and infrastructure, oil and gas, and manufacturing industries is associated with high economic development, which accelerates demand.
The automobile sectors are the primary driver of the Coated Fabrics Industry. It is highly used in seating upholstery, airbags, car mats, covers, and trim. The properties of coated fabrics compared to normal fabrics have raised the demand for protective clothing and military applications. It is also used to add aesthetic value to clothing, mainly to provide leather-like texture at a sensible cost.
During the pandemic, coating fabric was used in PPE kits, aprons, coveralls and gowns for healthcare workers usable tiles with protecting properties, fluid body resistance and antimicrobial surface, which surged its demand at the global level.
Moreover, the emerging construction activities worldwide are also fueling up the Coated Fabrics Market Share. The use of coated fabrics to produce conveyor belts and PTFE tapes is surging its demand in different regions. The global coated fabrics market is highly capital intensive in nature. The developments of key players will drive the market at the global level. The growth of research and development activities has led to the development of technologies such as inkjet deposition, plasma coatings, and nanomaterial, among others, setting the major opportunity to the Coated Fabrics Market.
The Coated Fabrics Market Forecast is estimated to reach a significant CAGR from 2021 to 2030 during the forecast period.
The outbreak of the virus has harshly affected the global economy and led to huge revenue losses. The market has faced problems and difficulties during the lockdown period. The global demand for coating fabrics has decreased in various developing regions such as Europe, the US, and the Asia Pacific, which has resulted in a sheer downfall in the growth statics of the Coated Fabrics Market Value.
The market has noticed financial loss due to the continuous reduction of share value, which badly affected the manufacturing operations, and the production process was halted due to the strict lockdown guidelines. But the strategies of key players will uplift the Coated Fabrics Market Share in the future years. Therefore, the market will reach a good CAGR value in the forecast period.
Chief Factors Existing In The Market
The drivers of the Coated Fabrics Marketare boosting up the market’s growth at the global level. Some of the major drivers of the market are the rise in safety measures in the transportation application and strict regulatory requirements for the safeguard of workers are driving the protective clothing segment, which is chiefly driving the market.
The major market challenges are creating issues and hampering the growth rate in the forecast period. The recycling of waste is one of the major challenging factors, while the lack of safety compliance is challenging the Coated Fabrics Market Growth. The Availability of substitutes is also challenging the market.
Rising opportunities of the Coated Fabrics Market are accelerating its demand at the global level. The rapid growth of industrialization in emerging countries sets wide opportunities for the market. Product development with innovative solutions is contributing to new growth opportunities.
The fluctuating raw material costs and increased awareness of environmental concerns are key restraints affecting the growth of Coated Fabrics Marketin the forecast period. Other factors such as stringent regulations are expected to hamper the market’s demand.
Cumulative Evaluation Of The Market
The evaluated report of the Coated Fabrics Market shows the market's demand in recent years. The chief driving factors are boosting the market’s value, even setting huge opportunities for the market. The Coated Fabrics Market is facing growth limiting factors that the market is expected to overcome in the future years with support from industrial verticals. The Coated Fabrics Revenue is even noticed to recover its growth rate from the pandemic loss. The market is expected to reach its projected CAGR in the forecast period.
The Coated Fabrics Market is divided into Product Type and Application.
The Product Type segment of the Coated Fabrics Market is bifurcated into polymer-coated fabrics, rubber-coated fabrics, fabric-backed wall coverings. These coatings are highly preferred among customers.
The application segment of the Coated Fabrics Market is divided into transportation, industrial, furniture, construction, protective clothing, and others.
According to the global market geographical report, the Coated Fabrics Market is showing its tremendous growth in major regions such as North America, Europe, Asia Pacific and the Middle East and Africa.
The Asia Pacific is registered to grow with the fastest CAGR in the Coated Fabrics Market due to the growth of the automobile production rate in the region. Moreover, the emerging industrialization has propelled the need for protective clothing, which is setting new opportunities for the market. Implementing rules and regulations for industrial safety, which is laid down by the Fire Safety Forum Asia (FFSA) and Industries Development and Regulation Act of India, is driving the Asia Pacific market.
North America and Europe are showing significant growth due to the U.S.'s increased oil and gas activities, which is accelerating expected to contribute to substantial growth and demand for coated fabrics. Furthermore, the presence of automobile manufacturers in Europe and the North American region is chiefly driving the Coated Fabrics Market Growth.
The Middle East and Africa are expected to witness higher growth during the forecast period due to the growth of the region's construction and oil and gas industries. The increased production of passenger vehicles, especially by the PSA Group, is propelling the regional growth of the market.
Competitive Intensity Within The Industry
The key players of the Coated Fabrics Market Forecastare playing a crucial role in propelling the market growth rate. The developments and improvements of the market will help the market to drive the market at the global level. The players are taking the high responsibility to propel the market to face every issue and step up to achieve its estimated CAGR. Below listed is the list of key players of the Coated Fabrics Market.
Recent Market Developments
Jan 2022 Trelleborg Industrial Solutions bought Alpha Engineered Composites' coated fabrics business to improve its specialist areas. The acquisition, the details of which were not disclosed, provides the business with access to heat-resistant silicone-coated fabrics, allowing it to explore new markets. According to Trelleborg, polymer-coated fabrics are employed in specialised applications such as railway bellows, aerospace, and engineered industrial items. The purchase comprises all of the unit's production equipment, client base, and intellectual property rights, as well as its SEK90 million in sales. The acquisition exemplifies how Trelleborg Industrial Solutions is ascending the value ladder to develop better and larger commercial prospects.Jan 2022 Following the successful incorporation of graphene nano-platelets (GNPs) in its cosmetic face mask sheets and PPE face masks, Haydale has announced that iCraft would use Haydale's functionalized GNPs in its graphene-coated fabric, THERMiTTM. Haydale's plasma functionalized GNPs were employed to coat the nylon fibres in the lining of a down jacket to provide improved thermal and antibacterial performance. THERMiTTM graphene-coated fabric was delivered to Pro-Specs, a South Korean sports apparel business, for use in a new graphene-enhanced jacket. The initial production run of 8,000 items available in store and online sold out in weeks.
Overall, the Coated Fabrics Market has shown sheer growth in recent years. The COVID-19 report has stated the market's downfall at the global level, but the strategies and planning of key players will propel its growth in the future years. The market dynamics, such as the key drivers and opportunities, play an effective role in lifting the market. The growth limiting factors are even taken as a concern to prevent the growth rate. The Coated Fabrics Market segment report displayed the various segments and their usage in industrial sectors. The regional report has shown about the growth of the market in various developing regions. The complete overview shows that the Coated Fabrics Market will achieve its estimated CAGR during its coming years.
Key Industrial Segments
|Market Size||2030: Significant value|
|CAGR||2021–2030: Substantial CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Omnova Solutions inc (U.S.), Takata Corporation (Japan), Saint-Gobain (France), Sioen Industries NV (Belgium)., Mauritzon Inc (U.S.) ContiTech AG (Germany), Isotex S.p.A. (Italy), Graniteville Specialty Fabrics (U.S.), Serge Ferrari Group (France), Heytex Bramsche GmbH (Germany), and Trelleborg AB (Sweden).|
|Key Market Opportunities||growing research and development activities have led to the development of technologies such as plasma coatings, inkjet deposition, and nanomaterial|
|Key Market Drivers||The growing demand from the transportation and protective clothing applications.|
Transportation and protective clothing applications are majorly driving the global coated fabrics market.
Strict regulations and fluctuating raw material prices are the biggest challenge of the global coated fabrics market.
Transportation is the leading application of the global coated fabrics market due to being used in car upholstery, airbags, and car mats.
The APAC is the best-performing region within the global coated fabrics market due to a robust automobile production.
Trelleborg AB, Mauritzon Inc, Sioen Industries NV, Graniteville Specialty Fabrics, Heytex Bramsche GmbH, Omnova Solutions inc, Takata Corporation, ContiTech AG, Saint-Gobain, Isotex S.p., Serge Ferrari Group are the major players of the global coated fabrics market.