Polyurethane Coated Fabrics Is Fastest Growing Segment Fueling The Growth Of Coated Fabrics Market

 

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 are used to manufacture various industrial products and consumer goods. They provide advantages like water resistance, light-weight, UV rays protection, abrasion resistance and anti-stain properties. These fabrics find widespread applications in automotive, protective clothing, transportation, industrial and construction among others.

Market key trends:

One of the key trends in the coated fabrics market is rising demand for polyurethane coated fabrics. Polyurethane provides excellent mechanical properties, water resistance, flexibility and adhesion. It is increasingly being used to coat various fabrics like nylon, polyester and cotton for applications in automotive interiors, packaging and transportation. The growth in automotive and medical sectors is propelling the demand for polyurethane coated fabrics globally.

Segment Analysis

The global coated fabrics market is segmented by product type, application, and region. Based on product type, the market is segmented into polymer coated fabrics, rubber coated fabrics, and fabrics backed coated fabrics. The polymer coated fabrics segment dominated the global coated fabrics market in 2022 owing to its increasing demand in applications such as transportation, protective clothing, furniture and industrial and awning. Polymer coated fabrics offer superior properties such as abrasion resistance, water resistance, stain resistance and flexibility making them suitable for such applications.

Key Takeaways

The global coated fabrics market is expected to witness high growth, exhibiting a CAGR of 4.1% over the forecast period, due to increasing demand from end use industries like transportation, protective clothing, industrial and construction. The global coated fabrics market size was valued at US$ 22.49 Bn in 2023.Asia Pacific region dominated the global coated fabrics market, accounting for around 35% of global revenue in 2023 owing to its sizable end use industries in emerging economies like China and India. 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.

Regional analysis

The Asia Pacific region is expected to dominate the global coated fabrics market during the forecast period, growing at the highest CAGR. This can be attributed to the presence of emerging economies like China and India which are witnessing rapid industrialization and infrastructure development. Additionally, these countries have sizable end use industries like automotive, construction and protective clothing which drives the demand for coated fabrics. North America and Europe are also significant markets driven by established end use industries and demand for advanced coated fabric applications.

Key players analysis

Key players operating in the coated fabrics market are focusing on expanding their product portfolio and global footprint through strategic partnerships and mergers & acquisitions. Geo Specialty Chemicals, Inc. specializes in polyvinyl butyral interlayers for architectural glass and adhesives for transportation, electronics and infrastructure applications. Perstorp Specialty Chemicals AB offers coating additives and specialty chemicals for coatings, adhesives and sealing applications. Henan Tianfu Chemical Co. Ltd. manufactures organic chemicals including modified acrylic polymers and resins.

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