Press release
Coated Fabrics Market to Reach US$ 21.6 Bn by 2020
Amongst the above mentioned applications, transportation accounted for almost 34% of the total revenue generated worldwide. This can be attributed to flourishing automobile industry in the world. Polymer coated fabrics are followed by cumulative contribution of small applications like clothing, flags & Banners, roofing’s etc. Application of coated fabrics in commercial tents is anticipated to grow at CAGR of 4.3% through the forecast period.
Based on type of raw material used coated fabrics can be classified as polymer coated, rubber coated and others. Polymer coated estimated to account for approximately 87% of the total market in 2020 owing to its increasing applications across various industries like textile and architecture, to make fabrics like nylon lycra and polyester fabrics.
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FMI forecasts APAC to be a major revenue contributor of coated fabrics market and is expected to grow at an effective CAGR of 4.1% during the forecast period. However the Middle East and Africa also has enormous space for growth in coated fabrics market. This is mainly due to high infrastructure investment undertaken by developing economies of MENA.
Global market for coated fabrics is mainly driven by automobile Industry .Coated Fabrics market is witnessing strong research and development efforts put forward by key players to make vehicles lighter. Increasing application of coated fabrics in textile is another attractive segment with large potential. Key players in this market are 3M, Saint Gobain, Valspart Corporation, PPG industries and ExxonNonnbel, BASF coatings AG, SHERWIN WILLIAMS, DuPont Coatings, and Nippon Paints amongst others.
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