The global coated fabric market size is likely to gain impetus from their rising utilization in producing military wear and protective clothing worldwide. Besides, the ongoing number of construction projects owing to the increasing investments in chemical, oil and gas, infrastructure, and automotive and transportation industries would affect the market positively. This information is given by Fortune Business Insights™ in a recently published report, titled, “Coated Fabric Market Size, Share and Industry Analysis, by Product (Polymer Coated Fabric, Rubber Coated Fabric, and Fabric Backed Wall Coverings), By Application (Protective Clothing, Transportation, Furniture, Industrial, and Others) and Regional Forecast, 2019-2026.” The report further states that the coated fabric market size stood at USD 34.89 billion in 2018. It is anticipated to reach USD 49.41 billion by 2026, exhibiting a CAGR of 4.5% during the forecast period.
Drivers & Restraints:
Increasing Automotive Production to Propel Growth
Coated fabrics are majorly used in vehicles to improve the feel and appearance of their interior. Varnish or oil finishes, plastics, lacquer, rubber, PVC, and resins are some of the materials that are extensively used to process or coat fabric. Automotive coated fabric is oil-repellent, rot-proof, UV resistant, water resistant, and anti-corrosive. Nowadays, numerous automotive manufacturers are using OMNAVA coated fabric upholsteries to enhance a vehicle’s performance, provide impressive design, excellent touch, durable performance, low emissions, and environmental features. OMNOVA delivers auto OEMs superior quality fabric. Overall, increasing production of automotive and rising per capita income are set to augment the coated fabrics market growth in the coming years. However, fluctuations in the prices of raw materials may hinder the market growth.
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Key Players Aim to Strengthen Position through Strategic Partnerships
The market is highly competitive. Renowned organizations are mainly aiming to gain the maximum share by adopting the strategy of collaboration and partnership. Companies, such as Saint-Gobain Performance Plastics, Trelleborg, Fothergill Group, and SRF Limited are the dominant companies in terms of share.
Fortune Business Insights™ provides a list of all the companies operating in the coated fabric market. They are as follows;
- B&V Membrane
- SRF Limited
- Low & Bonar
- Fothergill Group
- J K Texbond Pvt. Ltd.
- Ajy Tech India Pvt. Ltd.
- CANADIAN GENERAL TOWER
- Sioen Industries NV
- Saint-Gobain Performance Plastics
- Bobet Group
- Other prominent key players
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Asia Pacific to Lead Backed by Growth of Construction Industry
In terms of region, the market is classified into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. Amongst these, in 2018, North America procured USD 7.3 billion coated fabrics market revenue. This growth is attributable to the upsurging demand for protective clothing from chemical and pharmaceutical industries. Apart from that, the FDA has imposed strict rules and regulations. In Canada and the U.S., increasing usage of protective clothing and industrial machinery applications has given rise to rapid industrialization.
Asia Pacific, on the other hand, is set to lead the market throughout the forecast period because of the expansion of the construction industry. China is the main growth contributor as it is considered to be the prominent producer of motor vehicles, upholstered furniture, accessories, and apparels. India is also showcasing high industrialization owing to the existence of several reputed manufacturing companies. In Europe, the market would grow considerably in the coming years because of the rising production of automotive in the U.K. and Germany.