The polymer coated fabrics market is witnessing a surge in popularity due to its waterproof, UV-resistant, abrasion-resistant, and durable characteristics. In addition, the product is experiencing significant demand in applications such as awning pool covers, roof protectors, tarpaulins, and marine covers. It is driven by its excellent physical properties, impermeability to dirt & oil, and corrosion resistance. This strong demand is expected to propel considerable market growth.
In 2023, the polymer coated fabrics industry is poised to be valued at a substantial US$ 21,791.30 million, and it is projected to maintain a noteworthy Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2033. By the year 2033, this dynamic industry is anticipated to achieve a significant milestone, soaring to an impressive market value of US$ 35,835.30 million, reflecting its robust and sustained growth over the coming decade.
Protective Clothing Market Soars with Growing Industrialization in Emerging Economies
Rapid industrialization in developing countries has led to an increasing demand for protective clothing to ensure worker safety in hostile environments. Further, the demand is driven by cultural, sociological, and psychological factors, with stringent government regulations in the Middle East and Asia Pacific making safety precautions mandatory. As a result, there is a growing need for lightweight, comfortable, and highly heat-resistant protective clothing, leading to an upsurge in demand for coated fabrics.
Coated fabrics with high flame resistance are particularly utilized in manufacturing protective clothing for firefighters. Also, the rising focus on safety measures in transportation applications is expected to boost the polymer coated fabrics market growth.
Get an overview of market drivers and challenges affecting this industry! https://www.futuremarketinsights.com/reports/sample/rep-gb-2270
Eco-Conscious Consumers and Coated Fabrics: Addressing Environmental Concerns
Stringent government regulations have been imposed due to the release of hazardous air pollutants during the manufacturing process of coated fabrics, posing environmental concerns. Also, the growing consumer awareness about the ecological impact of non-recyclable products and disposal issues hampers polymer coated fabrics market growth.
For manufacturers, properly disposing of waste materials remains a significant challenge, as chemical recycling of coated textiles proves costly and leads to logistical issues and limited process flexibility.
The production of coated fabrics, particularly toxic solvents, is the primary source of hazardous air pollutants emitted at various stages of the industrial process. Consequently, these environmental concerns are expected to restrain the market growth of polymer coated fabrics during the forecast period.
Regional Outlook
The Asia Pacific region is poised to dominate the global polymer coated fabrics market due to rapid industrial growth and urbanization in key countries like China and India. Additionally, the demand from transportation, protective clothing, and industrial sectors is fueling market growth. Japan and South Korea are significant contributors.
Developing countries’ booming automotive industry and increased use in household furniture manufacturing boost demand. Also, innovations like shape memory polymers for smart textiles fuel growth. Small countries in Asia with low labor costs and relaxed regulations are projected to show substantial industrial development, enhancing the region’s export and production activities.
Key Takeaways
- The PU-coated fabrics segment in the product type category is likely to grab a share of 70% from 2023 to 2033.
- In the textile material category, the knitted segment is to acquire a market share of 60% between 2023 and 2033.
- The United States polymer coated fabrics business is expected to acquire a share of 30% by 2023.
- Germany’s polymer coated fabrics industry is to grab a share of 40% by 2023.
- Japan’s polymer coated fabrics business is anticipated to hold a share of 00% by 2023.
- Australia’s polymer coated fabrics industry is predicted to capture a share of 40% by 2023.
- China’s polymer coated fabrics business is expected to secure a CAGR of 50% through 2033.
- India’s polymer coated fabrics sales are estimated to develop at a CAGR of 00% from 2023 to 2033.
- The United Kingdom polymer coated fabrics business is to evolve at a CAGR of 20% through 2033.
Competitive Landscape
Companies covered in the global polymer coated fabrics market include
- BASF SE
- Akzo Nobel NV
- Saint-Gobain
- PPG Industries, Inc
- Nippon Paint Holdings Co., Ltd
- The Sherwin-Williams Company
- The Valspar Corp.
- E I du Pont de Nemours and Company
- Bayer AG
- 3M
- Takata Corporation
- Trelleborg AB
- Spradling International Inc
- Serge Ferrari Group
- Sioen Industries NV
- Continental AG
- Cooley Group Holdings
- Dickson Constant
- Seaman Corporation
- SRF Limited
Market growth is fueled by initiatives taken by participants.
Novel Breakthroughs
- In Dec 2021, Trelleborg Group acquired a division of Alpha Engineered Composites, a US-based company specializing in polymer-coated fabrics for niche applications in transportation, aerospace, and engineered industrial products.
- In April 2020, Synthomer acquired OMNOVA Solutions Inc., significantly bolstering its presence in North America and expanding its reach in Europe and Asia. The acquisition established a leading global specialty chemicals company with substantial scale and a solid foundation for future investments and growth.
Interested in Procure The Data? Inquire here! https://www.futuremarketinsights.com/ask-question/rep-gb-2270
Key Segmentation
By Product Type :
- Vinyl Coated Fabrics
- PU Coated Fabrics
- PE Coated Fabrics
- Others (acrylic, nylon 6, nylon 6-6, PA, PC, PEEK, PBT, and PET)
By Textile Material Type :
- Knitted
- Woven
- Non-Woven
By Application :
- Transportation
- Protective Clothing
- Industrial
- Roofing
- Awnings & Canopies
- Furniture & Seating
- Others (Agriculture, Geotextiles, Medical, Sports & Leisure, And Packaging)
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube