The coated fabrics market is projected to grow at 5.1% CAGR, with over 34% of sales in transportation. COVID-19 has impacted demand, but recovery is underway.
The global coated fabrics market is set to be valued at US$ 19,976.7 Mn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report forecasts the global coated fabrics market to grow at nearly 5.1% CAGR during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on Coated Fabrics growth will evolve in the next decade.
In its new study, ESOMAR-certified market research and consulting firm, Future Market Insights (Future Market Insights), offers insights about key factors fueling the demand for Coated Fabrics. The report tracks the global sales of Coated Fabrics in high-growth markets, along with analyzing the impact COVID-19 has had on the motor industry in general, and Coated Fabrics in particular.
Request a report sample to obtain authentic analysis and comprehensive market insights at- https://www.futuremarketinsights.com/reports/sample/rep-gb-288
Demand for coated fabrics waned in 2020, and due to the economic impact of the unprecedented COVID-19 crisis. However, the manufacturing industry is currently in recovery mode. Considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive. Rising application in the transportation segment will continue supporting growth. According to FMI, above 34% of sales in terms of application will concentrate in this sector.
This growth is projected to continue over the next years due to increase in the population around the globe and use of coated fabric in day to day life for various activities. Considering this, increase in population and other activities will create scope for application, encouraging growth in the coming years.
“Upsurge in demand for protection clothing and safety measures in the transportation in recent years is expected to provide an impetus to coated fabrics sales. Safety and high demand for various purposes of coated fabrics is expected to create substantial growth prospects. Leading players are enhancing their territories. However, contract acquisitions, collaborations and partnerships are some of the key strategies which will drive market players to strengthen their market presence and to gain market share” says FMI analyst.
Discover more about report analysis with figures and data tables, along with the table of contents. Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-288
The COVID-19 pandemic is currently impacting the global economy at various levels and the impact is seen on coated fabrics market as well. The market growth is projected to be affected by the COVID-19 pandemic crisis and it is expected to witness a significant drop in demand in 2021. With a number of end-use industries affected in several countries, the growth has also been impacted due to challenges in manufacturing sector. The shortage in demand are expected to result in a significant drop in Y-O-Y growth yet FMI expects Coated Fabrics to grow at 5.1% CAGR through 2031.
Key Takeaways
Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/288
Competitive Landscape
The market is moderately consolidated, with key players accounting for significant market share. Some of the key players in the market are Saint Gobain S.A, Bayer AG, PPG Industries, 3M Company, among others. These players are likely to invest in new technologies, especially customized variants, to maintain their market share.
Coated fabrics market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop specific purpose that meet personalized requirements of end users. Collaboration with regional manufacturers is framed as a prime strategy expected magnify in the forecast.
Related Reports:
N-Methyl-2-Pyrrolidone (NMP) Market: Find insights on the N-Methyl-2-Pyrrolidone (NMP) market with analysis of statistics, segments, players, influencers, and business strategies adopted over a 10-year forecast period.
Microcrystalline Cellulose Market: FMI’s report on the Microcrystalline Cellulose market provides insights on the market for 2022-2028. The study provides insights on restraining forces, revenue sources, market leaders, and market strategies.
Vinyl Flooring Market: An analysis on the Vinyl Flooring market with information on opportunities, growth levers, regional markets, restraints, regulatory policies, and strengths of market players.
Contact Us:
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
The article discusses the growth of the coated fabrics market, focusing on the transportation sector.
COVID-19 caused a temporary drop in demand, but recovery is expected as manufacturing rebounds.
China, the U.S., and European countries like Germany and France are leading in sales.
Explore more articles in the Research Reports category
