Growth in the automotive sector and rapid industrialization are major factors stimulating the Coated Fabric market growth.
NEW YORK CITY, NEW YORK, UNITED STATES, March 11, 2020 /EINPresswire.com/ — The Global Coated Fabrics Market is expected to reach USD 33.72 Billion by 2027, according to a new report by Reports and Data. Textile fabrics are frequently coated to make them waterproof, windproof, electro-conductive, antimicrobial, flame retardant, thermo-chromic, electromagnetic shielding, ultra-violet radiation shielding, photochromic, self-cleaning, and stain-resistant, among others. Coating is carried out to protect the textile materials, along with the aim to protect users from various vulnerabilities.
Growth in the automotive sector, coupled with a rapid rise in industrialization across the globe, is projected to propel the market for coated fabrics as increased demand for automobiles would directly influence the need for automotive coated fabric. Similar is the case for a rise in industrialization, which would push the demand for coated fabric used in conveyor belts, barrier materials, and abrasive backing, among others.
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Asia Pacific market is expected to be the fastest growing segment in the coated fabric market, with a CAGR of 3.8% in the forecast period. This can be attributed to the rise in construction activities in the region, creating a surge in demand for coated fabric in furniture, carpet backing, artificial leather, and upholstery, among others. The rise in the demand for automobiles in this region will further boost the market demand for use in products like seating, airbags, etc.
Further key findings from the report suggest
• Polymer coated fabrics would dominate the market with a growth rate of CAGR 3.6% during the forecast period, with more than 80% of the market share in the year 2019. This is chiefly owing to the widespread application of polymer-coated fabrics in the healthcare, automotive, industrial, and home furnishing segments that require superior fabric strength.
• The automotive sector is projected to be the leading segment among end-user with a growth rate of CAGR 3.5%, followed by the geotextiles segment with a growth rate of 3.7% in the forecast period. The growth of the coated fabric market in the automotive sector is due to the necessity to comply with the stringent government regulation to provide airbags in the automobile to protect the drivers and passengers from any accident.
• Calendar finishing is forecasted to lead the market with a CAGR of 3.7% in the forecast period and is expected to reach USD 10.59 billion by 2027 owing to the suitability of this process in the processing of rubber-based fabrics as well as manufacturing of heat-sensitive polymer-based fabrics. This calendar finishing process is used to provide luster and smoothness to fabrics.
• The North American market is forecast to capture the largest market share with a revenue of USD 8.61 billion in 2019 to reach USD 11.54 billion by 2027 in the forecast period owing to the growth of healthcare and automotive sectors in this region. The North American market is followed by Europe, having a growth rate of 3.7%.
• Key participants include Omnova Solutions, Takata Corporation, Saint-Gobain, Bo-Tex Sales Co., Graniteville Specialty Fabrics, Sioen Industries NV, Trelleborg Ab, SRF Limited, Seaman Corporation and Serge Ferrari Group, among others.
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For the purpose of this report, Reports and Data segments the Global Coated Fabric Market on the basis of type, raw materials, process end-user, and region:
• Type Outlook (Volume, Million Sq. Meter; 2017-2027 and Revenue, USD Million; 2017-2027)
o Polymer Coated Fabric
o Rubber Coated Fabric
• Raw Material Outlook (Volume, Million Sq. Meter; 2017-2027 and Revenue, USD Million; 2017-2027)
o Base Fabrics
• Process Outlook (Volume, Million Sq. Meter; 2017-2027 and Revenue, USD Million; 2017-2027)
o Direct Coating
o Calendar Finishing
o Hot Melt Extrusion Coating
o Foam Finishing
o Flame Lamination
• End-user Outlook (Volume, Million Sq. Meter; 2017-2027 and Revenue, USD Million; 2017-2027)
o Agriculture Clothing
• Regional Outlook (Volume, Million Sq. Meter; 2017-2027 and Revenue, USD Million; 2017-2027)
o North America
o Asia Pacific
3. South-east Asia
o Latin America
o Middle East & Africa
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/coated-fabric-market
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Source: EIN Presswire