Coated Fabrics Market growth outlook with industry review and forecasts 2017-2024

An outlook on Coated Fabrics Market growth is presented in this latest research report that reviews industry growth drivers, trends, regional factors & companies as well as provides forecasts for next few years.

According to Global Market Insights, Inc., "Coated fabrics market share worth USD 18 billion in 2015, is predicted to reach USD 27.4 billion by 2024, registering a CAGR of 4% over 2016-2024." Growing demand for coated fabrics from OEMs to manufacture motor vehicle upholstery, convertible tops, spare tire covers, headliners, and heavy-truck covers is predicted to boost the industry growth over the next few years.

Growing vehicle sales in Thailand, Indonesia, China, and India are expected to enhance the popularity of coated fabrics in automotive sector. Consistent efforts to improve the aesthetic appearance of seat cover designs are expected to boost the product demand over coming years. Global industrial protective clothing expenditure worth USD 5 billion in 2015, is anticipated to grow at a rate of 14% over the period of 2016-2024, owing to favorable government policies ensuring employee safety in industries. Food processing, medical, agriculture, defense, law enforcement, and chemical processing industries provide protective clothing to their workers to protect them from heat, biological pollutants, chemicals, and ecological hazards.

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Coated fabrics find myriad applications in protective clothing, furniture, and transport sectors. Coated fabrics market size in transport industry worth USD 6 billion in 2015, is expected to witness a high growth over the period of 2016-2024 owing to its increasing use in marines, automobiles, and aviation sectors. Its application in protective clothing sector is expected to grow at a rate of 4% over 2016-2024. The growth can be attributed to standardized factory regulations ensuring worker safety by mandating the use of protective clothing for workers to protect them from accidents occurring during the working hours. Coated fabrics application in furniture industry worth USD 1.9 billion in 2015, is projected to witness a high surge over the period of 2016-2024.

Region Wise Analysis:

Europe coated fabrics industry size worth USD 3 billion in 2015, is expected to witness a considerable growth over the period of 2016-2024. Strict government compliances related to worker safety coupled with standardized norms associated with passenger safety are expected to drive the regional growth. Germany, UK, and France are the major regional revenue contributors.

Asia Pacific market is predicted to record a CAGR of 4% over 2016-2024, owing to its growing demand in transport industry and protective clothing applications. Furthermore, the growth can also be credited to the presence of many manufacturing firms in the region. Malaysia, China, India, and South Korea are predicted to contribute substantially towards the regional growth over the coming years.

North America market is forecast to witness a noticeable growth over the coming eight years, due to growing product demand in the automotive industry along with large-scale use of protective clothing in oil & chemical industries. U.S. is expected to be a major contributor towards the regional share.

Latin America coated fabrics industry is projected to witness highest gains over 2016-2024 owing to high growth of motor vehicle industry. Brazil and Argentina are predicted to make substantial revenue contributions in the near future.

Middle East & Africa (MEA) market is expected to grow considerably over the period of 2016-2024 due to the presence of large construction projects along with strict rules regarding worker safety in factories. UAE, Saudi Arabia, and Kuwait are expected to drive the regional growth.

Market players will try to increase their revenue through product & technology innovation and mergers & acquisitions. Key industry participants include Takata Corporation, Omnova Solutions Incorporation, Trelleborg AB, Saint-Gobain, and Canadian General Tower Limited.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Global Market Insights, Inc. Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.