The global coated fabrics market is set to be valued at US$ 19,976.7 Mn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report forecasts the global coated fabrics market to grow at nearly 5.1% CAGR during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on Coated Fabrics growth will evolve in the next decade.
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Demand for coated fabrics waned in 2020, and due to the economic impact of the unprecedented COVID-19 crisis. However, the manufacturing industry is currently in recovery mode. Considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive. Rising application in the transportation segment will continue supporting growth. According to FMI, above 34% of sales in terms of application will concentrate in this sector.
Key Takeaways
- China, Japan, South Korea and ASEAN countries are witnessing high demand for coated fabric
- China being the largest market in the world, is also expected to hold highest share in the coated fabrics due to presence of strong local base and extensive production facilities and availability of raw materials
- The U.S. emerges as a leading market, accounting for over 84% sales in North America.
- Increasing automotive sales will support growth in the U.K., enabling it to exhibit 5.6% y-o-y growth in 2021
- Germany and France too will record high growth, driven by increasing focus on workplace safety
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Competitive Landscape
The market is moderately consolidated, with key players accounting for significant market share. Some of the key players in the market are Saint Gobain S.A, Bayer AG, PPG Industries, 3M Company, among others. These players are likely to invest in new technologies, especially customized variants, to maintain their market share.
Coated fabrics market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop specific purpose that meet personalized requirements of end users. Collaboration with regional manufacturers is framed as a prime strategy expected magnify in the forecast.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumersz
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