The global coated fabrics market was valued at USD 12 billion in 2016 and is expected to surpass USD 15 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global coated fabrics market, under its textile, fiber, and composites portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like OMNOVA Solutions, Spradling International, Saint-Gobain, Takata, and Trelleborg.
According to Chandrakumar Badala Jaganathan, a lead analyst for textile, fiber, and composites research at Technavio, “The need for long-range competitively priced electric vehicles is forcing automakers to opt for lightweight materials, which will result in the growth of the market during the forecast period. The reduction in the weight of automotive components will have a positive impact on the fuel efficiency and will help curb down carbon emissions.”
Coated Fabrics have a broad range of applications in the automotive industry including headlining, seating assembly, carpeting, trims, covers, hoses, belts, and airbags. The flexibility of these components is increased using elastomeric materials, dry lubricants, and additives. Furthermore, the introduction of various types of electric vehicles will help in the development of the market.
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Novel developments in coated fabrics sector
The vendors are investing in the research for phase change materials (PCMs), flame retardants, antibacterial coating, and conductive coatings. These are smart textiles that have the inherent ability to change phases within a narrow temperature range. The versatility of these materials will increase the demand for these products in space suits, sports, and medical apparel applications, leading to the growth of this market over the period of next four years.
Increase in demand for nonwoven coated fabrics
The use of nonwoven coated fabric in industrial, hygienic, and medical applications will drive the growth of the market. These materials are becoming an alternative to PU foam and woven fabrics, which have been conventionally used for manufacturing of coated fabrics. Vendors are opting for eco-friendly products and are preferring biodegradable materials for producing nonwoven coated fabrics instead of oil-based polymers due to the growing environmental concerns.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Coated Fabrics Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Coated Abrasives Market 2017-2021
- Global Coil Coatings Market 2016-2020
- Global Semiconductor Fabrication Material Market 2016-2020
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