Global Coated Fabrics Market Share, Size, Trends and Forecasts To 2020: Hexa Research
Coated fabrics market is expected to grow on account of properties such as high elasticity, better insulation, high water resistance, and thermal protection in transportation, furniture and protective clothing. Rapid development of technology coupled with infrastructural development is expected to be a key driver for coated fabrics market growth over the forecast period. Growing automotive production in emerging markets such as China, Mexico, Indonesia coupled with growing safety concerns is expected to have significant impact on market growth. As a result, airbags demand is expected to increase and would promote coated fabrics market growth over the next six years.
Growing protective clothing in chemicals, manufacturing, oil & gas and mining sector is expected to be another key driver for market growth. Growing furniture industry is another major factor which is expected to positively influence market. Coated fabrics manufacturing are a major cause of air pollution. Stringent environmental regulations by the U.S. EPA and European Commission are expected to restrict market growth over the forecast period. Availability of substitutes such as leather, plastics and other uncoated fabrics is expected to hamper coated fabrics market growth over the forecast period.
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Polymer coated fabrics are expected to dominate the market owing to low cost which makes manufacturers prefer their use in construction, automotive, healthcare and protective clothing applications. Increasing airbags demand is expected to further augment polymer coated fabrics market over the forecast period. Growing safety concerns in manufacturing sector pertaining to worker safety is expected to further propel market growth for polymer coated fabrics over the forecast period. Growing urbanization has led to infrastructural development in housing sector which is expected to have marginal growth for fabric wall covering over the next six years.
Transportation application was the largest market for coated fabrics with 34% of global volume in 2013. The application is expected to witness growth owing to increasing airbags demand in automobile coupled with growing infrastructural development intended for metro-rails and railway transit. Stringent regulations for ensuring worker safety in industrial applications are expected to propel coated fabrics demand in protective clothing over the next six years. Growing furniture industry in Asia Pacific is expected to have positive impact on coated fabrics market growth over the forecast period. With an advancement of technology, coated fabrics have also found applications in medical inflatables and laminate healthcare applications.
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About Hexa Research:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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