Coated Fabrics Market worth $29.14 billion by 2023

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(EMAILWIRE.COM, December 13, 2018 ) According to the new market research report “Coated Fabrics Market by Product (Polymer, Rubber and Fabric-backed wall coverings), Application (Transportation, Protective Clothing, Industrial, Awnings, Roofing & Canopies, Furniture & Seating) and Region - Global Forecast to 2023”, published by MarketsandMarkets™, the coated fabrics market is projected to grow from USD 23.93 billion in 2018 to USD 29.14 billion by 2023, at a CAGR of 4.0%.

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The rising safety measures in the transportation application and the stringent regulatory requirements for workers’ safety are expected to drive the coated fabrics market, globally.

Based on product, polymer-coated fabric to be the largest market, in terms of value, between 2018 and 2023

The demand for polymer-coated fabric is very high in various applications due to its superior properties such as resistance to dirt, oil, UV, and water. Moreover, the rising demand for automotive upholstery and home furnishing is expected to drive the polymer-coated fabrics market. Some of the other applications of polymer-coated fabrics are temporary tents, awnings, canopies, seat upholstery, and protective clothing.

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Based on application, the transportation segment is projected to lead the coated fabrics market, in terms of value, during the forecast period

Transportation is estimated to be the largest application of coated fabrics during the forecast period. The high demand for coated fabrics in seating upholstery, truck covers, airbags, and seatbelt is expected to drive the market in the transportation application during the forecast period.

APAC is expected to be the largest coated fabrics market during the forecast period

The APAC coated fabrics market is projected to register the highest CAGR, in terms of value, between 2018 and 2023. Growth in the region is backed by massive industrial growth and rapid urbanization in key countries such as China and India. The increasing demand from the transportation, protective clothing, and industrial applications is driving the coated fabrics market in APAC. The major countries driving the coated fabrics market in APAC are China, India, Japan, and South Korea.

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Some of the key players in the coated fabrics market include Continental AG (Germany), Spradling International Inc. (US), Seaman Corporation (US), Saint-Gobain SA (France), Trelleborg AB (Sweden), Sioen Industries NV (Belgium), Serge Ferrari Group (France), Low & Bonar Plc (UK), and OMNOVO Solutions Inc. (US).

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