by The global Coated Fabrics Market is estimated to be valued at US$ 22.49 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Coated fabrics provide strength, durability, breathability and protection from the environment. They are coated with substances like polymers, rubber and others to make them water resistant, fire retardant and more durable. These properties make them suitable for applications in transportation, protective clothing, furniture and more.
Market key trends
One of the key trends in the coated fabrics market is the rising demand for solution dyed acrylic fabrics. Solution dyed acrylic provides color fastness, wrinkle resistance and soft hand feel. They are widely used in upholstery, drapery and furniture applications due to their superior aesthetic and durability properties as compared to other fabrics. Solution dyed acrylic fabrics are expected to gain more popularity going forward in the coated fabrics market over the forecast period.
Market key trends:
One of the key trends in the coated fabrics market is the growing adoption of coated fabrics in various waterproof, protective and insulation applications. Coated fabrics are being increasingly used in protective clothing, roofing membranes, tents & awnings, tarpaulins and covers due to their waterproof, sun-protective and weather-resistant properties. Another key trend is the rising demand for coated fabrics from the automotive industry. The lightweight and durable nature of coated fabrics make them suitable for various interior and exterior automotive applications such as seating, airbags, carpeting, headliners, and load floors.
SWOT Analysis
Strength: Coated fabrics exhibit properties such as durability, waterproofness, UV resistance and flexibility. This makes them suitable for a wide range of applications.
Weakness: Raw material price volatility can impact the overall cost of coated fabrics. Frequent technology upgradations also require high R&D investments.
Opportunity: Growing construction and infrastructure industry in developing nations is driving the demand for roofing and tarpaulins where coated fabrics are used. Increasing automotive production also opens up opportunities.
Threats: Stringent environmental regulations related to the use of solvent-based coating materials. Competition from alternative materials that are recyclable.
Key Takeaways
The global coated fabrics market size was valued at USD 22.49 Bn in 2023 and is expected to reach USD 31.81 Bn by 2030, exhibiting a CAGR of 4.1% during the forecast period. The transportation segment dominates the end-use sector owing to extensive usage of coated fabrics in automotive interiors and exteriors. Regionally, Asia Pacific dominated the global market in 2023 and is expected to maintain its leading position throughout the study period. Rapid urbanization and rising construction spending across China and India are driving the regional market. Key players operating in the coated fabrics market are Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., and Shenzhen Vtolo Chemicals Co., Ltd.
