The Coated Fabrics Market is estimated to be valued at US$ 22.49 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Coated fabrics are cloth that is coated or treated during manufacturing to make the fabrics stronger, oil-repellent, fire resistant, water resistant and stain resistant. Coated fabrics provide advantages such as durability, flexibility and resistance to abrasion, stains, chemicals, sunlight and fire. They are widely used in transportation, protective clothing, industrial, roofing & awnings, furniture & seating and other applications.

Market key trends:

Increasing usage of coated fabrics in transportation industry is driving the market growth. Coated fabrics are widely used in automotive interiors, buses, railways and aircrafts. They provide durability, UV resistance, stain resistance and fire resistance which makes them suitable for harsh conditions in transportation industry. Additionally, growing demand for protective clothing from oil & gas, construction and healthcare industries is also fueling the market growth. Protective clothing made from coated fabrics provides resistance against chemicals, cuts, abrasion and liquids. Furthermore, increasing awareness about benefits of coated fabrics such as durability and easy maintenance is expected to present lucrative opportunities for market players over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the capital requirement to set up manufacturing units for coated fabrics is high. However, established players have strong brand recognition and distribution channels.
Bargaining power of buyers: The bargaining power of buyers is high as coated fabrics have applications across various industries. Buyers can choose from a wide range of products from established as well as new players in the market.
Bargaining power of suppliers: The bargaining power of raw material suppliers is moderate due to availability of substitute raw materials. Established players have long-term supply agreements with suppliers.
Threat of new substitutes: The threat of substitutes is low as coated fabrics have unique properties that are difficult to replace. However, new synthetic materials pose low threat.
Competitive rivalry: Intense due to presence of numerous global and regional players.

SWOT Analysis

Strength: Coated fabrics have a variety of applications. Manufacturers focus on product innovation and customer-centric strategies.
Weakness: Fluctuating raw material prices and stringent environmental regulations increase production costs. Supply chain disruptions impact operations.
Opportunity: Growing construction and automotive industries fuel demand. Rising investments in infrastructure projects boost market growth.
Threats: Trade barriers and geopolitical tensions impact international trade. Substitute materials pose competition.

Key Takeaways

The global coated fabrics market is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing applications in various end use industries such as construction, automotive, protective clothing etc. The market size for coated fabrics is estimated to reach US$ 22.49 Bn by 2023.

Regional analysis - Asia Pacific dominates the global coated fabrics market and is expected to grow at the fastest rate owing to rapid industrialization and infrastructural developments in China, India and other developing Asian countries. Western Europe and North America also hold significant shares in the global market.

Key players operating in the coated fabrics market are Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., and Shenzhen Vtolo Chemicals Co., Ltd. These players focus on new product developments and capacity expansion strategies to cater to the growing demand and consolidate their position further.