by The global Coated Fabrics Market is estimated to be valued at US$ 22.49 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Coated fabrics are cloth materials that are covered or impregnated with plastics, rubber latex, or some other compound. They are used for transportation, protective clothing, furnishings, industrial, and other construction applications. Key advantages of coated fabrics include flexibility, durability, abrasion resistance, moisture and fire resistance, and cost-effectiveness. Rapid growth of end-use industries such as automotive, construction, industrial, transportation, and others is expected to drive the demand for coated fabrics over the forecast period.
Market key trends:
One of the key trends in the coated fabrics market is growing demand from the construction industry. Coated fabrics are widely used in building and construction for various applications such as awnings, canopies, umbrellas, curtains, and signage. Rising investments in commercial and residential construction projects across both developing and developed economies is expected to support market growth. Furthermore, coated fabrics offer advantages such as UV and weather resistance, longevity, flexibility, and fire resistance which makes them suitable for use in various architectural applications. The growth of green building concept and demand for permeable and sustainable construction materials is also expected to drive the consumption of coated fabrics in the construction sector.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires high capital investment to establish manufacturing facilities and develop technological expertise. However, opportunities are available in the form of diversification.
Bargaining power of buyers: The bargaining power of buyers is high as the market is fragmented with presence of large number of regional and international players. Buyers can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for coated fabrics such as PVC, PU and silicone are available from numerous global suppliers and suppliers do not have control over prices.
Threat of new substitutes: The threat of substitutes is low as coated fabrics have limited substitutes and offer properties like durability, flexibility and resistance that are not easily substitutable.
Competitive rivalry: High due to presence of numerous regional and international players in the global market.
Key Takeaways
The global coated fabrics market size was valued at US$ 22.49 Bn in 2023 and is expected to reach US$ 32.07 Bn by 2030, exhibiting a CAGR of 4.1% during the forecast period due to increasing demand from transportation, protective clothing, industrial, roofing, awnings and carpets, furniture and others.
On the regional front, Asia Pacific region dominated the global coated fabrics market in 2023 and captured over 35% of global market share in terms of revenue. China is the largest producer and consumer of coated fabrics in Asia Pacific. Europe was the second largest coated fabrics market in 2023.
Key players operating in the coated fabrics market are Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., and Shenzhen Vtolo Chemicals Co., Ltd. Geo Specialty Chemicals, Inc. manufactures and distributes specialty chemicals and materials. Perstorp Specialty Chemicals AB produces intermediates and derivatives.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
