The global coated fabrics market size is expected to reach a valuation of USD 45.3 billion in 2023, propelled by the rise of eCommerce platforms and online retailing. This trend is set to create new opportunities, driving the market to a projected CAGR of 5.0% between 2023 and 2033, and achieving an estimated valuation of approximately USD 73.8 billion by 2033.
A key factor driving the growth of the coated fabrics market is the increasing demand from various end-use industries. The market is experiencing a surge in demand from sectors such as automotive, construction, aerospace, healthcare, and industrial. In the automotive industry, coated fabrics are widely used for interior and exterior applications, including seating, airbags, and upholstery.
In the construction sector, coated fabrics are utilized for architectural membranes, roofing, and awnings. The healthcare industry depends on coated fabrics for medical gowns, protective clothing, and surgical drapes. The versatility and wide range of applications across multiple sectors are significantly boosting the demand for coated fabrics.
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There is a growing preference for lightweight materials in various industries, with an increasing emphasis on fuel efficiency, reduced emissions, and sustainability. Coated fabrics offer an excellent alternative to traditional materials such as leather, metal, and glass due to their lightweight nature and enhanced performance characteristics. The fabrics provide benefits such as improved strength, durability, weather resistance, and flexibility, making them highly desirable in applications where weight reduction is crucial.
Increasing investments in research and development is another factor that is expected to have a significant impact on market growth. Major players in the coated fabrics market are investing significantly in research and development activities to introduce innovative products and gain a competitive edge. The investments focus on developing advanced coatings, exploring new materials, and improving the overall performance of coated fabrics. The continuous research and development efforts are driving product advancements and expanding the application scope of coated fabrics.
Another factor contributing to the market growth is the stringent safety and quality regulations, which creates a significant demand for coated fabrics. Various industries, such as automotive, aerospace, and healthcare, are subject to stringent safety and quality regulations. Coated fabrics play a crucial role in meeting these regulatory requirements by providing properties such as flame resistance, chemical resistance, and durability. The demand for high-performance coated fabrics that comply with safety standards is expected to increase, as regulations become more stringent.
Key Takeaways from this Market Study:
- The global coated fabrics market was valued at US$ 43.1 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.5%.
- China is expected to hold a dominant CAGR of 4.9% during the forecast period.
- By Application, the protective clothing segment is expected to constitute a CAGR of 4.9% in 2033.
- On the basis of Material Type, the polymer segment is expected to dominate the market with a CAGR of 4.8% in 2033.
- From 2023 to 2033, coated fabrics market is expected to flourish at a CAGR of 5.0%.
- By 2033, the market value of coated fabrics is expected to reach US$ 73.8 billion.
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“Expansion of online retailing, across the globe is a major factor that is expected to propel the growth of the coated fabrics market in the near future,” – remarks an analyst at FMI.
Competitive Landscape:
Prominent players in the coated fabrics market are Saint Gobain S.A, Bayer AG, PPG Industries, Akzonobel N.V., Seaman, Sioen, Spradling International, 3M Company, Valspar Corporation, E.I. du Pont de Nemours and Company, BASF SE Paints, Nippon Paints, and Sherwin Williams, among others.
Recent Developments:
- In 2022, Saint-Gobain Performance Plastics introduced a new line of high-performance coated fabrics with improved chemical resistance and enhanced durability, catering to demanding applications in the chemical processing and oil and gas industries.
- In the same year, Seaman Corporation expanded its coated fabrics portfolio with the introduction of a new fabric technology that provides exceptional UV resistance and weather ability, suitable for outdoor applications such as roofing and geomembranes.
- In 2021, Sioen Industries acquired Verseidag-Indutex GmbH, a leading manufacturer of coated fabrics for various sectors, including architecture, digital printing, and transportation. The acquisition aimed to strengthen Sioen’s position in the coated fabrics market and expand its product portfolio.
- In the same year, Spradling International Inc., a leading provider of coated fabrics, introduced an innovative antimicrobial coating technology for its fabrics, offering enhanced protection against bacteria and viruses.
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Key Segmentations
By Application:
- Commercial Tents
- Furniture
- Industrial
- Protective Clothing
- Transportation
- Others
By Material:
- Polymer Coated
- Rubber Coated
- Others
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Middle East & Africa (MEA)
- Japan
- Asia Pacific (Excluding Japan)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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