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Stratview Research has launched a new report, titled Engineered Coated Fabrics Market segmented by End-Use Industry Type (Automotive, Aerospace & Defense, Oil & Gas, Marine, and Others), by Coating Type (Polyurethane, Rubber, Silicon, and Others), by Substrate Type (Polyester, Fiberglass, Aramid, Polyamide, and Others), by Coating Process Type (Calendaring, Hot-Melt, Knife, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report, the 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. 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 technology, and the introduction of stringent government standards regarding safety are some of the major factors that are bolstering the demand for engineered coated fabrics in various end-use industries.
Engineered-coated fabric manufacturers have to rely rigorously on the quality check and legal documentation of parts and process prior to their usage in different end-use industries, which can be a time-consuming process. A growing safety concern and stringent government regulations, such as FAA’s Technical Standard Order (TSO) C69, and FAR 121, and National Transport Safety Board (NTSB), for aircraft evacuation slide and safety provisions for workers, are the key factors, which may adversely impact the demand for engineered coated fabrics.
There are a series of directions where the engineered coated fabrics manufacturers are moving today with the purpose to improve the overall customer experience as these fabrics are mostly customized to meet the specific requirements of the customer. Engineered-coated fabrics are an indispensable focus area for all the major tier players, who are engaged in developing products and fabricating parts, such as airbags, evacuation slides, gaskets, seals, fuel tanks, upholstery, and hospital seats, without sacrificing performance.
Market Segments' Analysis
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.
Key Players
The following are the key players in the Engineered Coated Fabrics Market.
- Graniteville Specialty Fabrics Inc.
- Lamcotec Inc.
- Omnova Solutions Inc.
- Orca – by Pennel & Flipo
- Trelleborg AB
- Uniroyal Global Engineered Products Inc.
- Vintex Inc.
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Engineered Coated Fabrics Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Engineered Coated Fabrics Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
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