The market is estimated to reach US$ 21.6 Bn by 2020, exhibiting a CAGR of 3.7% during the forecast period.
Valley Cottage, NY -- (SBWIRE) -- 01/09/2017 -- Future Market Insights (FMI), in its latest report titled, "Global Coated Fabrics Market Analysis and Opportunities Assessment, 2014-2020", reveals that the global coated fabrics market accounted for US$ 17.3 Bn in 2014. The market is estimated to reach US$ 21.6 Bn by 2020, exhibiting a CAGR of 3.7% during the forecast period.
The global coated fabrics market mainly covers applications, regions and product type. By Application type, the global coated fabrics market is segmented into transportation, Industrial, protective clothing, furniture, commercial tents, and others. Amongst all the applications, transportation accounted for 34% of overall market share in 2014 and is expected to exhibit a CAGR of 3.7% over the forecast period, followed by Industrial and other applications
Region-wise, Asia-Pacific is projected to dominate the coated fabrics market through the forecast period, exhibiting a CAGR of 4.1% over the forecast period, followed by North America and Western Europe. The growth is attributed to growing automobile and industrial sectors.
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By product type, polymer coated fabrics segment accounted for approximately 87% of total revenue market share in 2014 and is anticipated to hold a significant revenue share by 2020, displaying a CAGR of 3.6% over the next five years. Furthermore, rubber coatings and other segment are expected to demonstrate a significant growth in the near future.
The Coated fabrics are widely used in end user industries include transportation due to its various features such as elasticity, water resistance, and ability to drape. Increasing government regulations about health and safety of employees at the workplace, and growing automobile sector in APAC are other factors, driving the global coated fabrics market.
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Report profiles top 10 players in Coated Fabric marketplace which include 3M, Valspar Corporation, Saint-Gobain S.A., Sherwin-Williams, Bayer AG, AkzoNobel, PPG industries, Nippon Paints Co. Ltd., BASF coatings AG, and Dupont Coatings & Color Technologies Group. Currently, the key focus of the major players in the global coated fabrics market is on mergers and acquisitions to expand their geographical presence and customer base. Recently, the coated fabric market witnessed a major collaboration between International Apparel Federation (IAF) and Bayer AG aiming at improving innovations in apparel and footwear industry.