According to Global Market Insights, Inc., “Coated
fabrics market share worth USD 18 billion in 2015, is predicted to
reach USD 27.4 billion by 2024, registering a CAGR of 4% over 2016-2024.”
Growing demand for coated fabrics from OEMs to manufacture motor vehicle
upholstery, convertible tops, spare tire covers, headliners, and heavy-truck
covers is predicted to boost the industry growth over the next few years.
Growing vehicle sales in Thailand,
Indonesia, China, and India are expected to enhance the popularity of coated
fabrics in automotive sector. Consistent efforts to improve the aesthetic
appearance of seat cover designs are expected to boost the product demand over
coming years. Global industrial protective clothing expenditure worth USD 5
billion in 2015, is anticipated to grow at a rate of 14% over the period of 2016-2024,
owing to favorable government policies ensuring employee safety in industries.
Food processing, medical, agriculture, defense, law enforcement, and chemical
processing industries provide protective clothing to their workers to protect
them from heat, biological pollutants, chemicals, and ecological hazards.
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Coated fabrics find myriad applications in protective clothing, furniture, and transport sectors. Coated fabrics market size in transport industry worth USD 6 billion in 2015, is expected to witness a high growth over the period of 2016-2024 owing to its increasing use in marines, automobiles, and aviation sectors. Its application in protective clothing sector is expected to grow at a rate of 4% over 2016-2024. The growth can be attributed to standardized factory regulations ensuring worker safety by mandating the use of protective clothing for workers to protect them from accidents occurring during the working hours. Coated fabrics application in furniture industry worth USD 1.9 billion in 2015, is projected to witness a high surge over the period of 2016-2024.
Region Wise Analysis:
Europe coated fabrics industry size worth USD 3 billion in 2015, is expected to witness a considerable growth over the period of 2016-2024. Strict government compliances related to worker safety coupled with standardized norms associated with passenger safety are expected to drive the regional growth. Germany, UK, and France are the major regional revenue contributors.
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Coated fabrics find myriad applications in protective clothing, furniture, and transport sectors. Coated fabrics market size in transport industry worth USD 6 billion in 2015, is expected to witness a high growth over the period of 2016-2024 owing to its increasing use in marines, automobiles, and aviation sectors. Its application in protective clothing sector is expected to grow at a rate of 4% over 2016-2024. The growth can be attributed to standardized factory regulations ensuring worker safety by mandating the use of protective clothing for workers to protect them from accidents occurring during the working hours. Coated fabrics application in furniture industry worth USD 1.9 billion in 2015, is projected to witness a high surge over the period of 2016-2024.
Region Wise Analysis:
Europe coated fabrics industry size worth USD 3 billion in 2015, is expected to witness a considerable growth over the period of 2016-2024. Strict government compliances related to worker safety coupled with standardized norms associated with passenger safety are expected to drive the regional growth. Germany, UK, and France are the major regional revenue contributors.
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Asia Pacific market is predicted to
record a CAGR of 4% over 2016-2024, owing to its growing demand in transport
industry and protective clothing applications. Furthermore, the growth can also
be credited to the presence of many manufacturing firms in the region.
Malaysia, China, India, and South Korea are predicted to contribute
substantially towards the regional growth over the coming years.
North America market is forecast to
witness a noticeable growth over the coming eight years, due to growing product
demand in the automotive industry along with large-scale use of protective
clothing in oil & chemical industries. U.S. is expected to be a major
contributor towards the regional share.
Latin America coated fabrics industry
is projected to witness highest gains over 2016-2024 owing to high growth of
motor vehicle industry. Brazil and Argentina are predicted to make substantial
revenue contributions in the near future.
Middle East & Africa (MEA) market
is expected to grow considerably over the period of 2016-2024 due to the
presence of large construction projects along with strict rules regarding
worker safety in factories. UAE, Saudi
Arabia, and Kuwait are expected to drive the regional growth.
Market players will try to increase
their revenue through product & technology innovation and mergers &
acquisitions. Key industry participants include Takata Corporation, Omnova
Solutions Incorporation, Trelleborg AB, Saint-Gobain, and Canadian General
Tower Limited.
About
Global Market Insights:
Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with growth
consulting services. Our business intelligence and industry research reports
offer clients with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available
for key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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