COATED FABRICS MARKET ANALYSIS

Global Coated Fabrics Market is projected to surpass US$ 29.79 Billion by the end of 2030, in terms of revenue, growing at CAGR of 3.6% during the forecast period (2023 to 2030). The increased emphasis on safety measures and stringent regulations concerning worker safety in industries such as automotive, chemical, and oil & gas is a key factor contributing to the Global Coated Fabrics Market's optimistic growth projection. Furthermore, the growing demand for environmentally friendly materials propels the Global Coated Fabrics Market forward. Coated fabrics are a sustainable option because they can be made from a variety of materials, including natural fibers such as cotton and hemp, as well as recycled materials such as plastic bottles. Because of these factors, the Global Coated Fabrics Market is poised for steady and sustainable growth.

Global Coated Fabrics Market - Impact of Coronavirus (COVID-19) Pandemic

The Coated Fabrics Market has suffered in recent months as a result of global lockdowns imposed to combat the spread of COVID-19. Due to lockdowns, the fabrics industry was temporarily shut down. During the pandemic, border tensions in several countries forced governments to purchase defense equipment and protective clothing for their soldiers stationed in harsh conditions, increasing demand for polymer-coated fabrics. Governments in countries such as China and India have begun reforms in various end-use sectors in order to attract investments from around the world, which is expected to drive market revenue growth. Automotive sector manufacturing plants have also ceased operations. The defense sector was operational, but the lack of raw materials caused demand and supply chain disruptions. Following the relaxation of lockdowns and the lifting of more stringent social distancing norms, economic activity gradually resumed, resulting in a sudden pent-up demand for several materials. Automobile demand increased dramatically as a result of their low price availability. The global demand for raw materials in the textile industry increased demand for polymer-coated fabrics.

Global Coated Fabrics Market: Growth Drivers

Growth in the Automotive Industry to Drive Market

The automotive coated fabric is used in cars to improve the interior's look and feel. Resins, PVC, rubber, lacquer, plastics, and oil or varnish finishes are some of the materials used to coat or process the fabric. The automotive-coated fabric used in automobiles is corrosive-, water-, UV-, rot-, and oil-repellent-resistant. High-performance coated fabric is provided by OMNOVA to auto OEMs all over the world. Due to “ of their striking design, eco-friendly attributes, low emissions, appealing appearance, long-lasting performance, and superb touch, OMNAVA coated fabric upholsteries are used by the majority of automotive manufacturers.

The demand for polymer coated fabric, which is mainly used in automotive soft tops, seat covers, upholstery, interiors of light vehicles, and airbags, may increase as global automotive production and per-capita disposable income rise. For airbags, companies are creating recyclable coated fabric, which will support the automotive sector. For instance, Toyobo created a coated fabric that is recyclable for airbags. In place of the silicone polymer used in side curtain airbags, the product is applied to a nylon polymer. Without separating the coating material from the base fabric, this can be recycled.

Increasing the Supply of Protective Clothing Will Increase Demand      

Protection against hazardous biological and chemical materials is required in everyday work and can be obtained through the selection of appropriate protective clothing. Rapid industrialization as a result of heavy investments in the manufacturing industry, combined with stringent government regulations imposed by OSHA and NIOSH regarding the use of protective gears, will drive the overall protective clothing market demand. Polyurethane coated fabric can be used to make high altitude protective clothing, fire retardant clothing, and chemical protective clothing (CPC) due to properties such as flexibility at low temperatures, resistance to high impact, and resistance to high weather. As a result, the overall Coated Fabrics Market growth in the protective clothing industry is expected to accelerate.

Chemical protective clothing (CPC) is used to protect workers from physical and chemical hazards. It is also used to protect the entire body from poisonous chemicals that manifest their effects through skin absorption. The long-lasting CPC is made of rubber or PVC-coated fabrics, which usually prevent chemical permeation and penetration through fabrics in clothing. Fire retardant fabrics are classified into two types: those made of naturally flame retardant fibers and those made of 100% cotton with a flame retardant coating. For instance, In August 2020, a nanotechnology coating for textiles was introduced by the Indian tech startup Muse Nanobots that makes the claim that it can inactivate the coronavirus within five minutes of contact.

Global Coated Fabrics Market: Market Restraints

Environmental Concerns Could Limit Market Growth

Raw material price fluctuations and environmental concerns are the primary factors limiting the Coated Fabrics Market's revenue. Fabrics are made of nylon, polyester, rayon, cotton, and wool, and each fabric has a different impact. Nylon and polyester are derived from petrochemicals, which are non-biodegradable and unstable by nature. Polyester production necessitates the use of hazardous chemicals, including carcinogens, which, if released into the air and water and not treated, can cause environmental damage.

Global Coated Fabrics Market: Market Segmentation

On the basis of application, transportation dominated the Global Coated Fabrics Market in 2022 with around 34% Mn of market share in terms of revenue, followed by the furniture, commercial tent, industrial, protective clothing, and others respectively. The market is divided into several applications, including protective clothing, transportation, furniture, industrial, and others. Due to rising automobile sales and advancements in road and rail transportation, the transportation segment is expected to account for the lion's share in the near future. They are mostly used in the automotive industry to make seat belts, roofing, vehicle seats, air bags, and interiors. Strict government policies regarding vehicle security and safety measures may positively compel automobile manufacturers to install airbags in vehicles. Growing automotive industry due to increased demand for commercial and passenger vehicles will drive Coated Fabrics Market growth.

Figure 1: Global Coated Fabrics Market, By Application

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Global Coated Fabrics Market: Regional Analysis

The global Coated Fabrics Market is dominated by North America, which is anticipated to expand around 38% over the forecast period. North America has the largest global share of this market. The regional market is being driven by rising demand for protective garments in the pharmaceutical and chemical industries, as well as severe FDA regulations. During the forecast period, Asia Pacific led the market due to an increase in the construction industry. China is the world's largest producer of clothes and accessories, as well as upholstered furniture and automobiles, which are driving the demand for coated fabrics in this sector region. Growing industrialization in India and China suggests the presence of manufacturing enterprises in Asia Pacific that will boost demand for polymer coated products in the fabric market. Due to the existence of a significant automotive manufacturing hub and investments in R&D activities, the size of the European market may experience significant growth through the year 2026. The main driver for this is an increase in automotive production in Germany and the U.K. due to the region's expanding light-vehicle manufacturing.

Figure 2: Global Coated Fabrics Market, By Region

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Global Coated Fabrics Market: Recent Developments

• In March 2021, TechArt digitally printed, coated fabric, created by Spartanburg-based AFF TechStyles, has joined the group of TechStyle's textile products that feature either pre-made designs or unique images.
• In February 2020, Fabri Cote, a manufacturer of custom rubber-coated fabrics primarily for aerospace applications, was acquired by Fenner Precision Polymers as part of the company's expansion of its coated textile product line.
• In July 2020, The Spradling Group Company Proquinal Costa Rica announced a reinvestment of USD 20 million in its coated fabric manufacturing facility there. The reinvestment will enable the plant to implement a new process, increasing its capacity for export.

Global Coated Fabrics Market: Key Companies

The key companies covered as a part of this study include Saint Gobain S.A, Bayer AG, PPG Industries, Akzonobel N.V., 3M Company, Valspar Corporation, E.I. du Pont de Nemours and Company, BASF SE Paints, Nippon Paints and Sherwin Williams

*Definition: Bonding a coated layer to a textile substrate produces coated textiles. The coated layer can be applied to woven, knit, or non-woven surfaces in liquid or film forms. Different top and substrate materials can be used depending on the required fabric features such as durability, impermeability, resistance, environmental attributes, stretch, and pliability. Embossing can be used to impart texture to the surface. Top layer finishes may provide additional protection. Vinyl, polyurethanes, and silicone are the most often used coated fabric materials. Coated textiles are typically utilized for upholstery and wall covering because the coating adds an additional layer that is beneficial in commercial items and heavy traffic locations.