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 […]
Coated Fabrics Market Analysis: Trends and Forecasts for 2027
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).
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Drivers:
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.
Market Opportunities
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.
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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.
Competitive Section:
Company Names
- Geo Specialty Chemicals, Inc.
- Perstorp Specialty Chemicals AB
- Henan Tianfu Chemical Co. Ltd.
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