BURLINGAME, Calif., Nov. 28, 2023 /PRNewswire/ -- According to Coherent Market Insights, Global Coated Fabrics market size was valued at US$ 21.6 Billion in 2022 and is expected to surpass US$ 29.79 Billion by 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030. The global coated fabrics market is experiencing strong growth owing to increasing demand from sectors such as automotive, construction, and industrial application and growing focus on performance and durability.
Key Trends and Analysis of the Global Coated Fabrics Market:
The increased emphasis on safety measures and stringent regulations concerning worker safety in industries such as automotive, chemical, and oil & gas is a key factor contributing to the Global Coated Fabrics Market's optimistic growth projection. Furthermore, the growing demand for environmentally friendly materials propels the Global Coated Fabrics Market forward. Coated fabrics are a sustainable option because they can be made from a variety of materials, including natural fibers such as cotton and hemp, as well as recycled materials such as plastic bottles.
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Key Market Takeaways:
Global Coated Fabrics market is expected to surpass US$ 29.79 Billion by 2030 and is anticipated to witness a CAGR of 4.1% during the forecast period 2023-2030, owing to growth in the automotive industry, increasing the supply of protective clothing, and growing demand for environmentally friendly materials.
On the basis of Material Type, Rubber Coated segment is poised to hold lion's share in the global market due to its versatility, providing feature such as water resistance, durability, and flexibility.
On the basis of Application, transportation division is expected to dominate the Global Coated Fabrics Market owing to rising automobile sales and advancements in road and rail transportation and strict government policies regarding vehicle security and safety measures may positively compel automobile manufacturers to install airbags in vehicles.
On the basis of Region, The global Coated Fabrics Market is dominated by North America, which is anticipated to expand around 38% over the forecast period. North America has the largest global share of this market. The regional market is being driven by rising demand for protective garments in the pharmaceutical and chemical industries, as well as severe FDA regulations.
Key players in the global Coated Fabrics market include Saint Gobain S.A, Bayer AG, PPG Industries, Akzonobel N.V., 3M Company, Valspar Corporation, E.I. du Pont de Nemours and Company, BASF SE Paints, Nippon Paints and Sherwin Williams.
Global Coated Fabrics Market Key Developments
In March 2021, TechArt digitally printed, coated fabric, created by Spartanburg-based AFF TechStyles, has joined the group of TechStyle's textile products that feature either pre-made designs or unique images.
In February 2020, Fabri Cote, a manufacturer of custom rubber-coated fabrics primarily for aerospace applications, was acquired by Fenner Precision Polymers as part of the company's expansion of its coated textile product line.
In July 2020, The Spradling Group Company Proquinal Costa Rica announced a reinvestment of USD 20 million in its coated fabric manufacturing facility there. The reinvestment will enable the plant to implement a new process, increasing its capacity for export.
Read complete market research report, "Coated Fabrics Market, By Material Type, By Application, By Region and Segment Forecast 2023 - 2030", Published by Coherent Market Insights.
Global Coated Fabrics Market Segmentation:
By Material Type
- Rubber Coated
- Polymer Coated
- Other
By Application
- Commercial Tents
- Furniture
- Industrial
- Protective Clothing
- Transportation
- Others
By Region
North America
By Country:
- U.S.
- Canada
Latin America
By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe
By Country:
- U.K.
- Germany
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
Rest of Asia Pacific
Middle East & Africa
By Country:
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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