COATED FABRICS MARKET ANALYSIS

Coated Fabrics MarketSize and Trends

Global Coated Fabrics Market is projected to surpass US$ 29.79 Billion by the end of 2030, in terms of revenue, growing at CAGR of 3.6% during the forecast period (2023 to 2030). The increased emphasis on safety measures and stringent regulations concerning worker safety in industries such as automotive, chemical, and oil & gas is a key factor contributing to the Global Coated Fabrics Market's optimistic growth projection. Furthermore, the growing demand for environmentally friendly materials propels the Global Coated Fabrics Market forward. Coated fabrics are a sustainable option because they can be made from a variety of materials, including natural fibers such as cotton and hemp, as well as recycled materials such as plastic bottles. Because of these factors, the Global Coated Fabrics Market is poised for steady and sustainable growth.

Global Coated Fabrics Market - Impact of Coronavirus (COVID-19) Pandemic

The Coated Fabrics Market has suffered in recent months as a result of global lockdowns imposed to combat the spread of COVID-19. Due to lockdowns, the fabrics industry was temporarily shut down. During the pandemic, border tensions in several countries forced governments to purchase defense equipment and protective clothing for their soldiers stationed in harsh conditions, increasing demand for polymer-coated fabrics. Governments in countries such as China and India have begun reforms in various end-use sectors in order to attract investments from around the world, which is expected to drive market revenue growth. Automotive sector manufacturing plants have also ceased operations. The defense sector was operational, but the lack of raw materials caused demand and supply chain disruptions. Following the relaxation of lockdowns and the lifting of more stringent social distancing norms, economic activity gradually resumed, resulting in a sudden pent-up demand for several materials. Automobile demand increased dramatically as a result of their low price availability. The global demand for raw materials in the textile industry increased demand for polymer-coated fabrics.

Global Coated Fabrics Market: Growth Drivers

Growth in the Automotive Industry to Drive Market

The automotive coated fabric is used in cars to improve the interior's look and feel. Resins, PVC, rubber, lacquer, plastics, and oil or varnish finishes are some of the materials used to coat or process the fabric. The automotive-coated fabric used in automobiles is corrosive-, water-, UV-, rot-, and oil-repellent-resistant. High-performance coated fabric is provided by OMNOVA to auto OEMs all over the world. Due to “ of their striking design, eco-friendly attributes, low emissions, appealing appearance, long-lasting performance, and superb touch, OMNAVA coated fabric upholsteries are used by the majority of automotive manufacturers.

The demand for polymer coated fabric, which is mainly used in automotive soft tops, seat covers, upholstery, interiors of light vehicles, and airbags, may increase as global automotive production and per-capita disposable income rise. For airbags, companies are creating recyclable coated fabric, which will support the automotive sector. For instance, Toyobo created a coated fabric that is recyclable for airbags. In place of the silicone polymer used in side curtain airbags, the product is applied to a nylon polymer. Without separating the coating material from the base fabric, this can be recycled.