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(IT-NEWSWIRE.COM, March 26, 2020 ) Market Overview
• The Global Coated Fabrics Market is expected to grow at a CAGR of 4.15% during the forecasting period (2019-2026).
• A Coated Fabric is a fabric that has been treated to make them longer-lasting, stronger, and more weather resistant. Rather than interweaving a strengthening fiber directly into the fabric, these fabrics are coated with a substance that makes the fabrics’ surface more impervious to damage. The most common coating is polyethylene, the most basic plastic compound, which has proven its durability through its use in the packing industry. By application, the coated fabrics market is segmented into furniture & seating, industrial, protective clothing, roofing & canopies, transportation, and others. Others include awnings.
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Market Dynamics
• Speed industrialization in developing nations and increasing safety actions and measures in the transportation segment are the major driving factors for the growth of the market. As industrial workers' incomes rise globally, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth which in turn acts as a major factor for the growth of the coated fabrics market. The USMCA represents a demonstrative improvement for U.S. manufacturers of component parts such as thread, pocketing, narrow elastics, and coated fabrics. For instance, The United States is especially well-positioned globally in fiber, yarn, fabric, and non-apparel sewn products markets; it was the world’s 2nd largest individual country exporter of those products in 2018. These items will have stronger that will certainly boost sales to North American customers which acts as key factors for the market growth.
• Easy availability of substitutes and environmental issues are the restraints hampering the market growth worldwide.
Segment Analysis
• By application, the coated fabrics market is segmented into furniture & seating, industrial, protective clothing, roofing & canopies, transportation, and others. Others include awnings. The global coated fabrics market size by application was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Transportation is estimated to grab the major market share in the forecast period owing to the high demand for coated fabrics in truck covers, airbags, seating upholstery, and seatbelt.
• Manufacturers are concentrating to launch coated fabric products in transportation along with other applications. For instance, Colmant Coated Fabrics has a long experience in polymer formulations and coated textiles specially developed for the Transport Industry. Their coated fabrics are used for the manufacturing of train bellows, train gangway rubber joint, bus bellows, and tramway bellows. They are currently supplying coated fabrics and rubber sheets meeting the most demanding requirements like TGV French high-speed train for SNCF French National Railways Company.
• Based on the product, the market is classified into fabric-backed wall coverings, rubber-coated fabric, and polymer-coated fabric. The global coated fabrics market size by product was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Polymer coated fabric is expected to hold the major market share in the forecast period due to widespread applications in a wide spectrum of industries, including, automotive, electronics, chemical processing, geotextile, defense, and aerospace.
• Companies are launching new products with innovative solutions in the market. For instance, in June 2019, Trelleborg’s engineered coated fabrics operation has launched Tactwear™, its new polymer-coated Cordura® composite. The berry compliant composite material is engineered to extend wear, durability, and functionality in the most demanding applications, including tactical gear, waterproof bags and backpacks, and premium performance apparel.
Geographical Analysis
• The Asia Pacific coated fabrics market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The Asia Pacific is expected to dominate the global coated fabrics market in 2018 and estimated to hold the largest market size over the forecast period (2019-2026). Rapid urbanization in major Asia Pacific economies like India and China is expected to drive the market for this reason. Huge industrial growth and the rising demand from the automotive and industrial applications also expected to drive the market.
• Companies in this region are manufacturing, importing and exporting coated fabrics in various applications. For instance, Taiwan Dyeing & Fabric Co., Ltd. is an Exporter & Manufacturer for Industry & Garments fabrics. They offer a variety of PVC Coated Fabrics for outdoor & leisure items, bags, camping chairs, shoes, luggage, and backpacks applications.
Competitive Landscape
• The Coated Fabrics market is highly competitive with existing players in the market.
• Some of the major players include Seaman Corporation, SRF Limited, Spradling International, Inc., Omnova Solutions Inc., Endutex Coated Technical Textiles, Continental AG, Saint-Gobain S.A., Dickson Constant, Industrial Sedo S.L. and Serge Ferrari Group.
• In July 2019, Archroma has launched a water-based ultra-low VOC polyurethane polymer coating technology that delivers high performance to coated fabrics, such as indoor and outdoor textiles, nonwovens and papers.
• In July 2018, Trelleborg acquired the US-based privately owned company Laminating Coating Technologies, Inc. to strengthen its position in the PU coated fabrics market.
• In February 2018, Serge Ferrari launched Soltis Lounge 96 collection which focuses on innovative solar protection materials for outdoor applications.
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