coated fabrics market is expected to witness significant growth in the coming years

VANCOUVER, BRITISH COLUMBIA, CANADA, June 26, 2024 /EINPresswire.com/ -- The global coated fabrics market is expected to witness significant growth in the coming years, fueled by increasing demand from various end-use industries. According to a report by Emergen Research, the market size is projected to reach USD 61.26 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period.

The increasing focus on sustainable and eco-friendly solutions is a significant trend that is positively influencing the growth of the coated fabrics market. Industries, in response to growing environmental concerns and the need to reduce carbon footprints, are seeking materials and manufacturing processes that align with sustainability goals. Coated fabrics play a crucial role in meeting these demands by offering eco-friendly alternatives to traditional fabric options.

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One aspect of sustainability in coated fabrics is the use of environmentally friendly manufacturing processes. Many manufacturers are adopting cleaner and greener production methods that minimize the use of harmful chemicals, reduce energy consumption, and lower carbon emissions. For instance, water-based coatings and dyes are replacing solvent-based alternatives, resulting in reduced air pollution and water contamination. The sustainable manufacturing practices contribute to the overall eco-friendliness of coated fabrics.

Market Overview

Coated fabrics are base textiles treated with a layer of polymers, resins, or other materials to enhance their properties. These fabrics offer superior durability, water resistance, flame retardancy, and resistance to various chemicals and elements. They find application in a wide range of industries, including:

Automotive: Interiors (seats, headliners, airbags), exteriors (convertible tops)

Construction: Roofing, tarpaulins, awnings, tents

Medical: Surgical gowns, drapes

Apparel: Rainwear, outdoor gear, footwear

Industrial: Conveyor belts, hoses, airbags

Key Trends and Drivers

The growth of the coated fabrics market is driven by several key trends:

Rising Focus on Safety: Stringent regulations regarding worker safety in industries like automotive, chemical, and oil & gas are propelling the demand for coated fabrics used in protective clothing and equipment.

Increasing Demand for Durable and Weatherproof Materials: The growing popularity of outdoor activities and extreme weather events are driving the need for durable and weatherproof fabrics used in tents, awnings, and sporting goods.

Technological Advancements: Developments in coating technologies are leading to the creation of new fabrics with enhanced properties, such as self-cleaning and flame-retardant capabilities.

Sustainability Concerns: The increasing demand for eco-friendly materials is fostering the development of bio-based coatings and recyclable coated fabrics.

Market Restraints and Challenges

Despite the positive outlook, the market faces some challenges:

Fluctuations in Raw Material Prices: The volatility in the prices of raw materials like base fabrics and coatings can impact the overall cost of coated fabrics.

Stringent Environmental Regulations: Strict environmental regulations can limit the use of certain solvents and chemicals in the coating process, potentially impacting production costs.

Competition from Low-Cost Alternatives: The availability of cheaper, uncoated alternatives may limit the adoption of coated fabrics in some applications.

Growth Opportunities

The coated fabrics market presents lucrative growth opportunities in several areas:

Expanding Application Areas: The exploration of new applications for coated fabrics in industries like aerospace and filtration can drive market growth.

Development of Bio-Based Coatings: The increasing focus on sustainability creates a significant opportunity for manufacturers of bio-based coatings for coated fabrics.

Emerging Economies: The growing economies of Asia Pacific, particularly China and India, are expected to witness a surge in demand for coated fabrics due to rising industrialization and infrastructure development.

SWOT Analysis

Strengths:

Versatile product offering with diverse applications

Superior performance characteristics compared to uncoated fabrics

Weaknesses:

Dependence on fluctuating raw material prices

Environmental impact of the coating process

Opportunities:

Development of sustainable and eco-friendly coated fabrics

Expanding application areas in emerging industries

Threats:

Competition from low-cost alternatives

Stringent environmental regulations

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Latest Strategic Developments, Mergers & Acquisitions

On 23 March 2021, TechStyles, which is a division of the AFF Group based in South Carolina, announced the launch of two new products: The Foundation Collection, a high-quality vinyl upholstery fabric, and TechArt, a digitally printed coated fabric. The Foundation Collection fabric from the textile company consists of six performance lines with 168 colors and a variety of textures and styles for a wide range of uses.

Coated Fabric Top Companies and Competitive Landscape

The global coated fabric market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective coated fabric products.

Some major players included in the global coated fabric market report are:

SRF Limited

JK Texbond

BVMembranes

AJY Tech India Pvt. Ltd.

MarvelVinyls

Saint-Gobain Composite Solutions

Sioen Industries NV

Bobet Group

Trellborg Group

Fothergill Coated Fabrics Ltd.

Coated Fabric Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global coated fabric market on the basis of product, application, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Polymer Coated Fabric

Rubber Coated Fabric

Fabric Backed Wall Coverings

Application Outlook (Revenue, USD Billion; 2019-2032)

Protective Clothing

Transportation

Furniture

Others

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Country scope: U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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