Increase in automotive sales along with rising regulatory compliances pertaining to passenger safety has encouraged global coated fabrics market growth. Rising worker’s safety concern due to increase in accident occurrence during operational hours have resulted in to standardized rules to provide protective clothing.
Coated fabric market has witnessed immense demand from OEM applications in manufacturing air bags, motor vehicle upholstery, headliners, convertible tops, pickup-truck bed covers, heavy-truck covers and sides, nose covers, and spare tire covers. In terms of material usage nylon has witnessed major use in airbags while polyester is mainly preferable in trucks covers and sides. Aesthetic appearance to seat covers and possibility to customize designs have also influenced product demand in transportation industry.
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According to a new research report by Global Market Insights, Inc.Coated Fabrics Market size is set to reach USD 27.4 billion by 2024.
Increase in construction spending in hotels, schools, hospitals, office buildings and apartments due to change in living style & need for renovation is projected to fuel fabric backed wall demand. U.S. fabric backed wall market is projected to witness 5% growth owing to rising consumer demand for residential applications.
Government initiatives to ensure worker safety in industrial environment has positively drove coated fabrics demand in protective clothing. Aprons, chemical & hazardous material suits, clean room clothing, footwear, reflective clothing, and space suits are key protective clothing type. Availability of substitutes such as leather, plastic, & uncoated fabrics accompanied by presence of large number of domestic players may adversely affect coated fabrics market price trend.
Germany coated fabrics market size was valued at over USD 745 million in 2015. Stringent regulations associated to passenger safety along with standardized laws for labor protection has favored regional growth.
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Transportation coated fabrics market size was over USD 6 billion in 2015, automotive industry expansion along with rising penetration in road conveyance are key factors stimulating application growth.
U.S. polymer coated fabrics market size is mainly driven by automotive industry growth. In terms of revenue, the segment was worth over USD 2.2 billion in 2015.
China led by automotive industry growth expects growth of 12% from 2016 to 2024. Increasing manufacturing companies set up in India, Malaysia, and South Korea due to positive indicators from FDI should drive regional industry growth.
Latin America, with motor vehicle growth in Argentina, and Brazil may witness significant gains. Brazil transportation application to expand at over 2.5% CAGR up to 2024.
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Global coated fabrics market share is fairly fragmented as domestic companies holding more than 70% of the global demand. In terms of revenue, major industry player includes Omnova Solutions, Saint-Gobain, Takata Corporation, Canadian General Tower, and Trelleborg.