Coated Fabrics Market Size, Share, Demand & Trends by 2031
The global coated fabrics market is set to be valued at US$ 19,976.7 Mn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report forecasts the global coated fabrics market to grow at nearly 5.1% CAGR during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on Coated Fabrics growth will evolve in the next decade.
Demand for coated fabrics waned in 2020, and due to
the economic impact of the unprecedented COVID-19 crisis. However, the
manufacturing industry is currently in recovery mode. Considering the
possibility of a stimulus in many countries, the long-term outlook on the
market remains positive. Rising application in the transportation segment will
continue supporting growth. According to FMI, above 34% of sales in terms of
application will concentrate in this sector.
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“Upsurge in demand for protection clothing
and safety measures in the transportation in recent years is expected to
provide an impetus to coated fabrics sales. Safety and high demand for various
purposes of coated fabrics is expected to create substantial growth prospects. Leading
players are enhancing their territories. However, contract acquisitions,
collaborations and partnerships are some of the key strategies which will drive
market players to strengthen their market presence and to gain market
share” says FMI analyst.
Key Takeaways
- China,
Japan, South Korea and ASEAN countries are witnessing high demand for
coated fabric
- China
being the largest market in the world, is also expected to hold highest
share in the coated fabrics due to presence of strong local base and
extensive production facilities and availability of raw materials
- The
U.S. emerges as a leading market, accounting for over 84% sales in North
America.
- Increasing
automotive sales will support growth in the U.K., enabling it to exhibit
5.6% y-o-y growth in 2021
- Germany
and France too will record high growth, driven by increasing focus on
workplace safety
The COVID-19 pandemic is currently impacting the
global economy at various levels and the impact is seen on coated fabrics
market as well. The market growth is projected to be affected by the
COVID-19 pandemic crisis and it is expected to witness a significant drop in
demand in 2021. With a number of end-use industries affected in several
countries, the growth has also been impacted due to challenges in manufacturing
sector. The shortage in demand are expected to result in a significant drop in
Y-O-Y growth yet FMI expects Coated Fabrics to grow at 5.1% CAGR through 2031.
Competitive Landscape
The market is moderately consolidated, with key
players accounting for significant market share. Some of the key players in the
market are Saint Gobain S.A, Bayer AG, PPG Industries, 3M Company, among
others. These players are likely to invest in new technologies, especially
customized variants, to maintain their market share.
Coated fabrics market is likely to grow at a moderate
pace during 2021-2031. However, as it is a matured market, companies are
expected to concentrate further on research and development activities to
develop specific purpose that meet personalized requirements of end users.
Collaboration with regional manufacturers is framed as a prime strategy
expected magnify in the forecast.
Browse
Full Report: https://www.futuremarketinsights.com/reports/coated-fabrics-market
Coated Fabrics Market Key Segment
By Application
- Commercial
Tents
- Furniture
- Industrial
- Protective
Clothing
- Transportation
- Others
By Material
- Polymer
Coated
- Rubber
Coated
- Others
By Region
- North
America
- Latin
America
- Eastern
Europe
- Western
Europe
- Middle
East & Africa (MEA)
- Japan
- Asia
Pacific (Excluding Japan)
Valuable Insights into Coated Fabrics
Market
Future Market Insights, in its new report, offers an
unbiased analysis of the global coated fabrics market, analyzing historical
demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals
growth projections on the market on the basis of material type (rubber coated
and polymer coated) and application (commercial tents, furniture, industrial,
protective clothing, and transportation) across seven regions.
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