Coated fabrics are coated or treated with various products such as lacquer, varnishes, rubber, and thermoplastic coatings. They are manufactured from pile and smooth fabric. They find applications across the transportation, protective clothing, roofing, furniture, and seating industries.
The global coated fabrics market was valued at US$ 20841.59 Million in 2021 in terms of revenue, exhibiting a CAGR of 3.4% during the forecast period (2022 to 2030).
Drivers
Growing demand for coated fabrics from the automotive industry is expected to foster the coated fabrics market growth. The automotive industry is one of the major end users of coated fabrics. The rising production of lightweight passenger vehicle coupled with increasing investment in the automotive sector by governments is also expected to augment the market growth. Thus, growth in the automotive industry is expected to accelerate the global coated fabrics market growth.
Polymer-coated fabric is gaining huge demand, due to its high flame and water resistance properties. Moreover, it is relatively cheap as compared to other product types. They are widely used across protective clothing and technical clothing. This is also attributed to the growth of various manufacturing industries. Thus, growing demand for polymer-coated fabric is expected to propel the coated fabrics market growth.
The coated fabric market has witnessed a negative impact in the recent months owing to the lockdowns imposed globally to curb the spread of COVID-19 has adversely affected the market growth. The lockdowns had led to fabrics industry being temporarily shut down. Automotive manufacturing plants also completely halted their production. The defense sector was at work, but the non-availability of raw materials led to disruptions in the demand and supply chain. After the relaxation of lockdowns and lifting of more stringent social distancing norms, economic activity resumed steadily in a phased manner which led to sudden pent-up demand for several materials. There was a sudden increase in demand for automobiles owing to their availability at low prices. Worldwide demand for raw materials in the textile industry also caused an increase in demand for polymer-coated fabrics. During the pandemic, border tensions in several countries also forced governments to purchase defense equipment and protective clothing for their soldiers, who were posted in extreme conditions, which led to an increase in demand for polymer-coated fabrics. The governments of countries such as China and India initiated reforms in various end-use sectors to attract investments from across the globe, which is expected to drive the market revenue growth.
Figure 1. Global Coated Fabrics Market Share (%), By Region, 2021
Market Restraints
The fluctuating price of raw materials used in the manufacturing of coated fabrics is projected to hinder the market growth. Formaldehyde and propionaldehyde are the two most commonly used raw materials 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 coated fabrics market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 20841.59 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 3.4% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., and Shenzhen Vtolo Chemicals Co., Ltd.LIN SCAN, T.D. Williamson, Inc., Baker Hughes Incorporated, GE Oil and Gas, NDT Global, Enduro Pipeline Services, Inc., Oil & Gas Explorers and Producers, Petrobras, OMV Group, ConocoPhillips, and Royal Dutch Shell PLC |
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| Restraints & Challenges: |
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Market Trends
The rising adoption of fabric-backed wall covering is a growing trend in the market. This is attributed to the changing lifestyle of consumers and their increasing disposable income which is encouraging consumers to spend more on home decor products. This is mostly gaining demand from the urban housing sector. Thus, growth in the urban population is augmenting hence , growing demand for coated fabric.
Growing safety concerns across various manufacturing industries coupled with strict government regulations that mandate the provision of safety to workers are creating robust demand for coated fabric. High economic growth (North America)along with increased investment across various industries such as military, aerospace, etc. is further anticipated to propel the market growth.
Figure 2. Global Coated Fabrics Market Share (%) in terms of Values, By Application, 2021
On the basis of application, dominated the global coated fabrics market in 2021 with around 20841.59 Mn of market share in terms of revenue, followed by the commercial tents segment.
Recent Developments
Competitive Section
Major players operating in the global coated fabricarket include Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng, Hongdu Chemical Technology Development Co., Ltd., and Shenzhen Vtolo Chemicals Co., Ltd.
Coated fabrics are treated with various substances such as polymer, rubber, etc. to make it water-resistant, UV resistant, and dirt & oil repellent. These fabrics are highly durable and are weather and corrosion resistant. They are widely used across protective clothing, furniture and seating, roofing, and other industrial applications.
Global Coated Fabrics Market, By Product Type (Polymer-Coated Fabrics, Rubber-Coated Fabrics, Fabric-Backed Wall Coverings), Application (Transportation, Protective Clothing, Industrial, Roofing, Awnings and Canopies, Furniture and Seating, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Dynamics
Growing demand automotive industry especially in the Asia Pacific region is one of the key factors driving the growth of the global coated fabrics market. For instance, Asia Pacific is enchanting an increasing share of global vehicle sales and is the only major market expected to see continued robust growth in both the medium and long term. In addition, the autonomous car market in Asia Pacific is driven by increasing R&D activities with automakers partnering with various tech companies.
Moreover, rising investment in the oil & gas industry is projected to offer new market opportunities over the forecast timeframe. Coated fabric such as protective clothing is gaining a huge demand from the oil & gas industry in order to protect its workforce from the harsh working environment. Moreover, emerging newer technologies such as nanomaterials, plasma coating, and inkjet deposition are projected to offer lucrative opportunities in the near future.
Key features of the study:
Detailed Segmentation:
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