Fabrics are often treated with various substances to enhance their quality and increase their resistance to weather or other harmful agents. The common materials that are used for coating fabrics include resins, rubber, lacquer, and polymer. Coated fabrics are widely used across various sectors, including aerospace, chemical processing, automotive, and HVAC applications.
Global Coated Fabrics Market will Witness a CAGR of 3.7% through 2020
The global coated fabrics market was worth US$ 17.3 Bn in 2014 and it is anticipated that the market will witness a CAGR of 3.7% to reach a valuation of US$ 21.6 Bn by 2020. The sustained growth of the automobile sector in Asia Pacific (APAC) and increase in government regulations on workplace safety are projected to be the key growth factors for the global coated fabrics market.
Market Segmentation of the Global Coated Fabrics Market
On the basis of key applications, the global coated fabrics market is segmented into:
Among these, the transportation segment was the most dominant in 2014 and had a market share of 34%. It is anticipated that the transportation segment will witness a CAGR of 3.7% through 2020. Apart from the transportation segment, industrial and other application segment of the global coated fabrics market is anticipated to show stellar growth through 2020.
On the basis of product type, the global coated fabrics market is segmented into:
Among these, the polymer coated segment completely dominated the global coated fabrics market in 2014. It had 87% revenue market share in 2014, and it is anticipated that it will witness a CAGR of 3.6% over the next five years. Although rubber coatings and others segment had a low market share in 2014, it is anticipated that they will witness robust growth through 2020.
Key Regions for the Global Coated Fabrics Market
The key regions for the global coated fabrics market include Asia Pacific (APAC), North America, Latin America, Middle East, and Western Europe. It is projected that the growth will be especially stronger in APAC and Middle East. Increasing demand for automobiles in APAC is projected to be the key reason for the growth of the coated fabrics market in the region. The demand for light vehicles has forced automobile manufacturers to look at alternatives, and coated fabrics are a suitable option. Furthermore, the projected infrastructural growth in Middle East is also anticipated to increase the demand for coated fabrics, which in turn will provide an impetus to the global coated fabrics market.
Key Players in the Global Coated Fabrics Market
The key players in the global coated fabrics market are 3M, PPG Industries, Bayer AG, Nippon Paint Co., Ltd, Saint-Gobain S.A., Akzo Nobel N.V, E. I. du Pont de Nemours and Company, BASF Coatings AG, Sherwin-Williams, Valspar Corporation. Mergers and acquisitions (M&A) are a trend in the global coated fabrics market and it is anticipated that leading players will look for M&A opportunities to consolidate their position in the market.
Browse full Report of Global Coated Fabrics Market: http://www.futuremarketinsights.com/reports/details/coated-fabrics-market
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