Coated Fabrics Market in U.S. to Grow at 4.7% CAGR due to Demand from Automotive Industry: Transparency Market Research
By Business Wire News
By Business Wire News
U.S. based market intelligence firm Transparency Market Research announces the release of a new market research report, focusing on the U.S. coated fabrics market. The report, prepared with primary and secondary research backed up by opinions from some of the industry’s leading players, delivers the prediction that the U.S. coated fabrics market, worth US$2.67 billion in 2011, is expected to grow to be worth US$3.68 billion in 2018 at a CAGR of 4.7% from 2012 to 2018.
The report, titled “U.S. Coated Fabrics (Polymer, Rubber and Fabric Backed Wall Coverings) Market for Transportation, Protective Clothing, Furniture and Industrial Applications – Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018”, also makes volume-wise predictions for the growth of the U.S. coated fabrics market. By volume, the market totaled 457.7 million square meters in 2011 and is expected to rise to 590.3 million square meters by 2018. By volume, the market is expected to exhibit a CAGR of 3.7%.
Transportation is the prime application of coated fabrics, followed by protective clothing, industrial, and furniture. Application of coated fabrics in transportation and protective clothing collectively accounted for 50% of the total consumption of coated fabrics in the U.S. in 2011.
Due to the water resistance and elasticity of coated fabrics, the automotive industry makes use of coated fabrics on a wide scale, mainly in vehicle interiors, air bags, etc. The rising demand for cars and other commercial vehicles is expected to ensure steady demand for coated fabrics from the U.S. automotive industry, helping the market’s growth prospects in the forecast period.
Polymer-coated fabrics are expected to lead the U.S. coated fabrics market, due to preference for the same from automotive manufacturers.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.