Coated Fabrics Market Analysis

Coated Fabrics Market Analysis

Polymer coated fabrics segment generated USD 17 billion in business revenue in 2015 and will continue to increase due to surging demand for airbags in automobile and protective clothing in manufacturing companies. China, South Korea, and Germany being the major contributor in automotive and aerospace industry should ease the coated fabrics market.

Rubber fabrics may surpass USD 2 billion revenue by 2024 due to its durability, elasticity, flexibility, and resistance to degradation properties. The product’s major applications include automotive upholstery, storage bags, food conveyor belts, rainwear, boats, lifeboats, gymnasium mats, aprons, truck covers, and protective garments.

Growing demand from the industrial & commercial base and revitalizing construction industry especially in Indonesia, China, Malaysia and India will continue to drive the coated fabrics market growth. Also, increase in public infrastructure spending and rise in consumer interest in home interiors will drive the fabric wall backed covering demand.

Transportation led the industry application segment and was worth over USD 6 billion in 2015, mainly due to execution of safety standards for automobiles and industrial workers coupling with government initiatives such as National Highway Traffic Safety Administration (NHTSA) to promote safe driving has encouraged product growth. Additionally, increasing application scope in producing insulators on space shuttle for solid rocket nozzles will fuel the coated fabrics market growth.

Protective clothing applications are projected to expand at 4% CAGR through 2024. Standardized safety protective measures implementation for the workers associated with industrial operations and safety packages use in rescue and swimming purposes will drive the protective clothing industry. Aprons, chemical and hazardous material suits, clean room clothing, cut and slash-resistant clothing, gloves, footwear, reflective clothing, and space suits are widely used protective clothing.
 

Europe, led by UK, France, & Germany generated over USD 3 billion revenue in 2015. Regulatory norms associated to worker’s safety and standardized guidelines to passenger safety are key factors stimulating regional coated fabrics market value.
 

Rising penetration in transportation and protective clothing applications due to presence of numerous manufacturing companies should drive the coated fabrics market in China. APAC may see over 4% growth rate owing to emerging business in chemical, automotive, and healthcare industries in South Korea, India, and Malaysia.
 

Endowed with stringent guidance from National Fire Protection Association (NFPA), OSHA, and ASTM, U.S. is a highly legalized industry. Incursions into shale exploration and renewable chemicals commercialization has observed an improvement in the regional protective clothing business.
 

Presence of large-scale construction projects in Saudi Arabia, Kuwait, and UAE accompanied by regulations of labor security should favor the Middle East & Africa coated fabrics business growth.