Engineered Coated Fabrics Market projected to reach US$ 923.6 million in the forecast period (2019-2024)

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Engineered Coated Fabrics Market is expected to inflate at impressive CAGR by the forecast period (2019-2024).

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Highlights of the Report:
The global engineered coated fabrics market is projected to grow at a healthy growth rate over the next five years to reach US$ 923.6 million in 2024. An organic growth of the automotive and aircraft industry coupled with an increasing demand for lightweight products, the development of new high-performance applications using engineered coated fabrics, an advancement in the technology, and the introduction of stringent government standards regarding the safety are some of the major factors that are bolstering the demand for engineered coated fabrics in various end-use industries.

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Market Segments:
Based on the end-use industry type, the engineered coated fabrics market is segmented into Automotive, Aerospace & Defense, Oil & Gas, Marine, and Others. Automotive is likely to remain the most dominant segment of the engineered coated fabrics market over the next five years. Growing demand for lightweight yet durable parts for achieving higher fuel efficiency and increasing passenger safety concerns are the major factors bolstering the demand for engineered coated fabrics in the automotive industry.

The aerospace & defense segment is likely to grow at the highest rate during the forecast period, driven by increasing aircraft deliveries, growing safety concerns, stringent government regulations, and increasing usage of engineered coated fabrics in ballistic jackets, safety floats, and other defense applications.

Based on the process type, the engineered coated fabrics market is bifurcated into Calendaring, Hot-Melt, Knife, and Others. Calendaring is the most widely preferred coating process in the global engineered coated fabrics market. It is considered as an ideal process for rubber-based fabrics processing and is very good at handling heat-sensitive polymers. The hot-melt coating process is projected to grow at the highest rate, owing to its low-processing time. In the hot-melt coating process, the coating material can be applied without any organic solvents at a high application rate, which leads to its low-processing time.

Based on the substrate type, the engineered coated fabrics market is segmented into Polyester, Fiberglass, Aramid, Polyamide, and Others. Fiberglass substrate is expected to remain the fastest-growing segment of the global engineered coated fabrics market during the forecast period (2019-2024), whereas polyester, aramid, and polyamide, other major substrate types, are likely to witness healthy growth rates over the next five years. Fiberglass substrates offer high-tensile strength and possess excellent resistance to heat and flame, making them one of the most preferred substrates for engineered coated fabrics.

Based on the regions, North America is projected to remain the largest market for engineered coated fabrics during the forecast period, driven by both OE as well as aftermarket segments. The USA is the growth engine of the region’s market and has the presence of almost all major engineered coated fabric manufacturers including Omnova Solutions and Uniroyal Global Engineered Products. Consistent growth in the automotive and aerospace & defense industries is likely to boost the overall demand for engineered coated fabrics in the North American market.

Asia-Pacific is likely to witness the highest growth during the forecast period, driven by a host of factors, such as an increasing automobile production, propelled by beefing up the production of existing plants as well as rolling out new plants; growing aerospace & defense industry, supported by increasing defense budget and rising passenger traffic; growing textile industry and a gradual shift of manufacturing base from the developed economies to the developing Asian economies. China and Japan are likely to remain the major growth engines of the market, whereas India is likely to be the new growth engine of the region’s market in the coming years.

Market Players:
The supply chain of this market comprises of raw material suppliers, engineered coated fabric manufacturers, distributors, and end-users. The key engineered coated fabrics manufacturers are Graniteville Specialty Fabrics Inc., Lamcotec Inc., Omnova Solutions Inc., Orca – by Pennel & Flipo, Trelleborg AB, Uniroyal Global Engineered Products Inc., and Vintex Inc. Some of the key end-users in the industry are Boeing, Airbus, Spradling International Inc., and Modern Inc.

Features of the Report
Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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This release was published on openPR.