Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Coated fabrics are coated or treated with various products such as lacquer, varnishes, rubber, and thermoplastic coatings. They are manufactured from the pile and smooth fabric. They find applications across transportation, protective clothing, roofing, furniture, and seating industries.
The global coated fabric market is estimated to account for US$ 20854.6 Mn in terms of value and 5804 Kilo Tons in terms of volume by the end of 2019 and expected to grow at CAGR of 3.80% during the forecast period (2020-2027).
The growing demand for coated fabrics from the automotive industry is expected to foster the market growth of coated fabrics. Automotive industry is one of the major end-user of the coated fabric. The rising production of lightweight passenger vehicle coupled with the increasing investment in the automotive sector by the government is also expected to augment the market growth of the coated fabric. Thus, growth in the automotive industry is expected to accelerate the market growth of the coated fabric.
Polymer coated fabric is gaining huge demand due to its high flame and water resistance property. Moreover, they are relatively cheaper as compared to other product types. They are widely used across protective clothing and technical clothing. This is also attributed to the rise in the various manufacturing industries. Thus, growing demand for polymer-coated fabric is expected to propel the market growth of the coated fabric.
Figure 1. Global Coated Fabrics Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global coated fabric market in 2019, accounting for 35.1% share in terms of value, followed by North America and Western Europe, respectively
The fluctuating price of raw materials used in the manufacturing of coated fabric is projected to hinder the market growth of the coated fabric. Formaldehyde and propionaldehyde are the two most commonly used raw material in the production of coated fabric.
Low adoption of powder coating across the North America region due to extreme weather conditions is expected to restrict the market growth of the coated fabric. This is mainly in the U.S. which affecting the demand for powder coating, thereby negatively impacting the market growth of coated fabric.
Coated Fabrics Market Report Coverage
||Market Size in 2019:
||US$ 20,854.6 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 28,050.7 Mn
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Africa
- By Material Type: Rubber Coated, Polymer Coated and Other Material Type.
- By Application: Commercial tents, Furniture, Industrial, Protective Clothing, Transportation and Other.
Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., Shenzhen Vtolo Chemicals Co., Ltd.
- The increasing demand for coated fabrics in the automotive industry is a prime factor augmenting the market growth
- Growing demand for fabrics that offers water resistance and high flame properties
|Restraints & Challenges:
- The fluctuating price of raw materials used in the coated fabrics
The transportation sector is an emerging industry for coated fabric and this is expected to provide potential market opportunities in the near future. The growing demand for coated fabric from rail and roadways transportation is expected to foster market growth over the forecast period. Moreover, increasing use of conveyor belts and PTFE tapes from coated fabric is also expected to propel the market growth over the foreseeable timeframe.
Growth in the chemical industry is driving demand for protective and technical fabric. This is expected to provide immense market opportunities in the market. Increasing construction of residential building is fueling demand for furniture. The coated fabric is also used in the manufacturing of household furniture. All these factors are projected to accelerate market growth over the forecast period.
Figure 2. Global Coated Fabric Market– Opportunity Analysis
Market Trends/Key Takeaways
Rising adoption of fabric backed wall covering is a growing trend in the market. This is attributed to the changing lifestyle of the consumer and increasing disposable income of the consumer which is encouraging consumers to spend on home decor products. This is mostly gaining demand from the urban housing sector. So growth in the urban population is augmenting the market growth of the fabric backed wall covering hence growing demand for coated fabric.
Growing safety concerns across various manufacturing industries coupled with the increasing strict government regulations that mandate provision of safety to workers is creating robust demand for coated fabric. High economic growth along with the increased investment across various industries such as military, aerospace, etc. is further anticipated to propel the market growth of the coated fabric.
Figure 3. Global Coated Fabrics Market Share (%) in terms of Value, By Application, in 2019
On the basis of application in 2019, the transportation segment has accounted the largest market share of 34.1% in terms of value, followed by commercial tents segment respectively.
Global Coated Fabrics Market - Impact of Coronavirus (Covid-19) Pandemic
Coronavirus is expected to have a significant impact the textile sector as due to the pandemic situation the global sales of the textile products have come down to a grinding halt. Due to the lockdown, all sorts of textile-related factories are closed. In addition, COVID-19 have also caused a profound impact on the global automotive industry that caused decline in the production of cars and other vehicles. The aforementioned factors will hamper the demand for the coated fabric market during the forecast period.
- Geo Specialty Chemicals, Inc.
- Perstorp Specialty Chemicals AB
- Henan Tianfu Chemical Co. Ltd.
- Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd.
- Shenzhen Vtolo Chemicals Co., Ltd.
Few Recent Developments
In September 2019, CPS Performance Materials announced that it has acquired GEO Specialty Chemicals. GEO is a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment, and construction markets.