Coated Fabrics Market Worth $23.0 Billion by 2020
By PRN NewsWire
By PRN NewsWire
DALLAS, June 5, 2015 /PRNewswire/ —
The report “Coated Fabrics Market by Product (Polymer, Rubber, and Fabric Backed Wall Coverings) and Application (Transportation, Protective Clothing, Industrial, Furniture & Seating, and Roofing, Awnings, & Canopies) – Global Trends & Forecasts to 2020”, published by MarketsandMarkets, The Coated Fabrics Market is projected to reach $23.0 Billion by 2020 and CAGR of 4.1% between 2015 and 2020, in terms of value.
Browse 70 market data Tables and 50 Figures spread through 170 Pages and in-depth TOC on “Coated Fabrics Market”.
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The market report defines and segments the Coated Fabrics Market with an analysis and forecast for product and applications by volume as well as value.
“Asia-Pacific is the key market for Coated Fabrics”
Asia-Pacific dominated the Coated Fabrics Market in 2014 and accounted for a share of 45% by value. Country-wise, the market in China is projected to be the leading consumers of coated fabrics globally by 2020, and is estimated to grow during the forecast period. The U.S. is currently the second-largest coated fabrics consumer in the world. The demand for the coated fabrics is driven by the diverse applications ranging from transportation, protective clothing, and industrial among others. Rapid pace of industrialization and growing demand for automobiles remain key growth driving forces for this market. Future growth in the market hinges heavily on Asia-Pacific and Eastern Europe.
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“Transportation application to drive the growth of the global coated fabrics market”
The transportation segment dominated the Coated Fabrics Market in 2014 and is projected to continue to do the same having accounted for a share of 33% by 2020 in terms of value. Protective clothing is the fastest-growing application estimated to register a CAGR of 4.5% between 2015 and 2020 in terms of value. The increasing demand for automobiles in the Asia-Pacific region and implementation of safety standards for automobiles and industrial workers are expected to drive the global demand for coated fabrics in transportation and protective clothing markets respectively.
“Polymer coated fabrics projected to be the largest segment”
Polymer coated fabrics is the leading segment of Coated Fabrics Market by product globally. It accounted for a share of around 86% in 2014. The demand from applications such as transportation, protective clothing, and industrial segment is anticipated to drive the polymer coated fabrics market. The fabric backed wall coverings segment is projected to have the highest growth rate from 2015 to 2020. Increasing demand from the rapidly expanding commercial and industrial base and reviving construction industry especially in Asia-Pacific and European countries will continue to drive the growth of this segment.
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