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At 4% CAGR, Coated Fabrics Market is projected to grow over $27.4 billion by 2024

Author : Rahul Varpe | Published Date : 2019-08-16 

Growing vehicle sales in Thailand, Indonesia, China, and India are expected to enhance the popularity of coated fabrics in automotive sector. Consistent efforts to improve the aesthetic appearance of seat cover designs are expected to boost the Coated Fabrics Market demand over coming years. Global industrial protective clothing expenditure worth USD 5 billion in 2015, is anticipated to grow at a rate of 14% over the period of 2016-2024, owing to favorable government policies ensuring employee safety in industries. Food processing, medical, agriculture, defense, law enforcement, and chemical processing industries provide protective clothing to their workers to protect them from heat, biological pollutants, chemicals, and ecological hazards.

North America Coated fabrics market is forecast to witness a noticeable growth over the coming eight years, due to growing product demand in the automotive industry along with large-scale use of protective clothing in oil & chemical industries. U.S. is expected to be a major contributor towards the regional share.

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Asia Pacific Coated fabrics market is predicted to record a CAGR of 4% over 2016-2024, owing to its growing demand in transport industry and protective clothing applications. Furthermore, the growth can also be credited to the presence of many manufacturing firms in the region. Malaysia, China, India, and South Korea are predicted to contribute substantially towards the regional growth over the coming years.

Extensive use of coated fabrics in manufacturing air bags as well as seat covers in automotive sector along with strict government norms addressing the safety concerns of factory workers is expected to drive global market growth. According to Global Market Insights, Inc., “Coated fabrics market share worth USD 18 billion in 2015, is predicted to reach USD 27.4 billion by 2024, registering a CAGR of 4% over 2016-2024.”

Coated Fabrics Product Analysis (Volume, Million Square Meters; Revenue, USD Million, 2013 - 2024)

  • Polymer Coated Fabrics
  • Rubber coated fabrics
  • Fabric backed wall covering

Coated Fabrics Application Analysis (Volume, Million Square Meters; Revenue, USD Million, 2013 - 2024)

  • Transportation
  • Protective clothing
  • Industrial
  • Furniture
  • Others

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Coated fabrics market players will try to increase their revenue through product & technology innovation and mergers & acquisitions. Key industry participants include:

  • Takata Corporation
  • Omnova Solutions Incorporation
  • Trelleborg AB
  • Saint-Gobain
  • Canadian General Tower Limited

Europe coated fabrics market size worth USD 3 billion in 2015, is expected to witness a considerable growth over the period of 2016-2024. Strict government compliances related to worker safety coupled with standardized norms associated with passenger safety are expected to drive the regional growth. Germany, UK, and France are the major regional revenue contributors.

Coated fabrics market in Latin America is projected to witness highest gains over 2016-2024 owing to high growth of motor vehicle industry. Brazil and Argentina are predicted to make substantial revenue contributions in the near future.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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