Coated Fabric Market has witnessed immense demand from OEM applications in manufacturing air bags, motor vehicle upholstery, headliners, convertible tops, pickup-truck bed covers, heavy-truck covers and sides, nose covers, and spare tire covers.
The recent launch of Master Fabricator Program by Trelleborg in collaboration with U.S. fabricators marks a new era for coated fabrics market. Reportedly, Trelleborg Engineered Coated Fabrics has established this fabricator program in association with six other leading giants (American Rubber Products, Freudenberg-NOK Sealing Technologies, Floats & Fuel Cells Inc, Sealing Devices Inc., Mueller Die Cut Solutions Inc, and Gasket Engineering Co.) serving aerospace and general business sectors. As per market analysts, the Master Program is expected to add more value to the supply chain of coated fabrics industry. Furthermore, it will leverage the strengths of the aforementioned organizations through this strategic collaboration by helping them to gain deeper insights of the overall business landscape.
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Global coated fabrics industry having held a revenue of USD 18 billion in 2015, is forecast to record a valuation of over USD 27 billion by the end of 2024, with a projected CAGR of 4% over 2016-2024. The business space being closely linked to diversified end-use domains, a plethora of governmental legislations outlines the coated fabrics market dynamics indirectly. Despite the fact that a major chunk of these regulations was undertaken by U.S. based organizations, the impact is on a global level.
According to National Highway Traffic Safety Administration (NHTSA), in the year 2015, around 35,092 people died in vehicle crashes, which is an exponential rise from data recorded in 2014. To combat this surging rate of vehicle crashes, NHTSA has strictly implemented certain safety standards of vehicles. These stringent regulations have subsequently increased the demand for seat belts and air bags, which in a way is catalyzing coated fabrics market commercialization.
Government legislations like the European Union’s Directive 89/686/EEC and model WHS (Work Health and Safety Act) in Australia are influencing manufacturing sectors toward adoption of industrial protective clothing. Standardization of Safety protective measures for industrial workers and operators is driving coated fabrics market from protective clothing applications. In fact, protective clothing sector is expected to contribute significantly toward the overall revenue in the coming years, with a projected CAGR of 4% over 2016-2024.
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The specification and textile standards bring forth by the international organization ASTM regarding the physical, chemical, and mechanical properties of the fabrics are spreading an awareness among the consumers, enhancing coated fabric market outlook as well.
Incessant efforts by the market players to advance the product portfolio along with a strict regulatory framework directly & indirectly attached to the business landscape is sure to bring a positive change in the coated fabrics industry. Stanford University researchers have recently come up with an advanced nanomaterial coated fabric that is claimed to trap heat inside the clothing, removing the requirement of household heating. Coated fabrics market is characterized by similar kind of product innovations and advancements, which will undeniably enhance the profitability of the business space.
Browse key industry insights spread across 143 pages with 116 market data tables & 11 figures & charts from the report, “Coated Fabrics Market Forecast, 2016 – 2024” in detail along with the table of contents:
Global coated fabrics market share is fairly fragmented as domestic companies holding more than 70% of the global demand. In terms of revenue, major industry player includes Omnova Solutions, Saint-Gobain, Takata Corporation, Canadian General Tower, and Trelleborg.
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Cellulose Fiber Market Forecast, 2016 – 2024
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