San Francisco, June 30, 2016 (GLOBE NEWSWIRE) -- The global market for coated fabrics is expected to reach USD 22,576.7 million by 2020, according to a new study by Grand View Research, Inc. Coated fabrics market is expected to witness rapid growth due to positive outlook on application markets and product innovation. Increasing growth in automotive industry is also expected to boost the coated fabrics market over the forecast period. Rising demand for protective clothing due to its wide application in food processing, agriculture, chemical processing is expected to fuel the market growth of coated fabrics. The global construction industry has seen a steady recovery over the last three years, enhanced infrastructure spending, particularly in Brazil, China and India is expected to be mirrored in the demand for coated fabrics.
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Transportation was the largest application segment for coated fabrics, accounting for nearly 1,183 million square meters of total demand in 2013, due to their increasing use in airbags. Upturn in automotive production, especially in emerging markets of India, China and Brazil is expected to be a key factor for market development over the next six years. Protective coatings accounted for coated fabric demand of 526.7 million square meters in 2013, owing to its favorable insulation and thermal management properties.
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Further key findings from the study suggest:
- Global coated fabrics demand was 3,400.2 million square meters in 2013 and is expected to reach 4,400.0 million square meters by 2020, growing at a CAGR of 3.8% from 2014 to 2020.
- Asia Pacific was the largest regional market for coated fabrics, with revenue exceeding USD 7,600 million in 2013. It is further expected to grow due to surging population, increasing automotive demand and growing infrastructure spending. In addition, Asia Pacific is also expected to witness fastest growth, at an estimated CAGR of 5.1% from 2014 to 2020.
- North America and Europe are expected to witness demand growth at an estimated CAGR of 3.5% and 3.2% from 2014 to 2020, respectively.
- Polymer coated fabric accounted for over 85% of market share of coated fabrics in 2013, due to its wide use in automotive, personal protective clothing, healthcare and furniture applications. It is expected to witness demand growth at an estimated CAGR of 3.9% from 2014 to 2020.
- The global coated fabrics market is fragmented and includes players such as Omnova Solutions, Saint-Gobain S.A., Spradling International Inc., Takata Corporation, Trelleborg AB, ContiTech AG and Isotex S.p.A.
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For the purpose of this study, Grand View Research has segmented the global coated fabrics market on the basis of production, application and region:
• Coated Fabrics Product Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
• Polymer coated fabrics
• Rubber coated fabrics
• Fabric backed wall coverings
• Coated Fabrics Application Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
• Protective clothing
• Coated Fabrics Regional Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research