Polymer Coated Fabrics Market Size, Growth, Opportunities, Trends, Graph, Segmentations, Key Players and Forecast
The report “Polymer Coated Fabrics Market by Product (Polyvinyl, Polyurethane, Polyethylene), Application (Transportation, Protective Clothing, Industrial, Awning, Roofing & Canopies, Furniture & Seating) – Global Forecast to 2024″, The polymer coated fabrics market is projected to reach USD 20.1 billion by 2024, at a CAGR of 4.3% from USD 16.3 billion in 2019. The rising safety measures in the transportation application and the stringent regulatory requirements for workers’ safety are expected to drive the polymer coated fabrics market, globally. In addition, APAC and South American countries, such as China, India, and Brazil, are emerging as rapidly growing industrial hubs that account for substantial growth potential for the polymer coated fabrics market.
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Polyvinyl was the largest polymer type segment in the polymer coated fabrics market.
Polyvinyl was the largest type segment in the polymer coated fabrics market, in terms of both value and volume, in 2018. The growth of this segment can be attributed to the fact that PVC is the most used coating for architectural fabrics due to the reduced cost, easy weldability, and the range of colors available. Additionally, it can be easily painted or printed.
Transportation was the largest application segment of the polymer coated fabrics market.
Transportation is estimated to be the largest application of coated fabrics during the forecast period. Polymer coated fabrics are being used in transportation applications due to various reasons. They are rot-proof, dirt & oil-repellent, mildew resistant, water-resistant, and UV resistant. They improve material durability and are weather & corrosion resistant. The usage of polymer coated fabrics contributes to the reduction in the weight of vehicles, which leads to low emissions of CO2. They also provide improvements in passenger safety and superior comfort in seating. High demand for coated fabrics in seating upholstery, truck covers, airbags, and seatbelt is expected to drive the market in the transportation application during the forecast period.
APAC is estimated to be the largest market for polymer coated fabrics during the forecast period.
The APAC region led the polymer coated fabrics market in 2018, in terms of value. Growth in the region is backed by massive industrial growth and rapid urbanization in key countries such as China and India. The increasing demand from the transportation, protective clothing, and industrial applications is driving the polymer coated fabrics market in APAC. The major countries driving the polymer coated fabrics market in APAC are China, India, Japan, and South Korea.
The key market players profiled in the report include Continental AG (Germany), Spradling International Inc. (US), Seaman Corporation (US), Saint-Gobain SA (France), Trelleborg AB (Sweden), Sioen Industries NV (Belgium), Serge Ferrari Group (France), Low & Bonar Plc (UK), and OMNOVO Solutions Inc. (US).
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Continental AG (US) is a leading manufacturer of coated fabrics across the globe. The company produces various coated fabrics mainly used in transportation, protective clothing, and industrial applications. In March 2017, the company opened a new plant for coated fabrics in Changshu, China. The new center is expected to better serve Chinese customers’ demands in different industries. This will provide the company an opportunity to tap the market more effectively for polymer coated fabrics.
Spradling International Inc. (US) is one of the major players in the polymer coated fabrics market, which is present in the market for over 60 years, opened a plant in Costa Rica. The project includes high-tech, European machinery that has the most cutting-edge and efficient technology. The expansion helped the company to support its customers, its workers, and the local Costa Rica community.
Trelleborg AB (Sweden) is another leading manufacturer of coated fabrics. The company operates in North America, Europe, South and Central America, and the Asian Market. The company acquired US-based Laminating Coating Technologies Inc. (Lamcotec) in July 2018 as part of its strategy to strengthen its position in the US market. Lamcotec develops and manufactures polyurethane-coated and laminated fabrics for the aerospace and healthcare & medical industries. The acquisition helped the company strengthen its position in the polymer coated fabrics market.
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