Varying technical textiles demand across various industrial verticals has been revealed in a report published by Research Report Insights over the forecast period (2017-2022). The market for polymer coated fabric is estimated to reach a valuation of US$ 19 Bn by 2022-end, after analyzing a slew of factors influencing the dynamics of market. The market is expected to witness expansion at steady single-digit CAGR, and is concentrated in APEJ region.
PE Coated Fabrics to Hold One-fifth Market Share
Polymer coated fabrics having moisture barrier properties are expected to gather more demand in the market. Polyethylene coatings, which can prevent moisture from infusing the fabric will remain most lucrative. In terms of revenues, PE coated fabrics are expected to hold nearly 20% share of the market. The PE coated fabrics are expected to be garnering more demand in near future, while its contribution to overall market revenues won’t be as remarkable as rest of the product-types.
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Drivers and Restraints
A variety of mechanical and physical advantages provided by PE coated fabrics owing to their minimum water permeation features is anticipated to increase the application range of polymer coated fabrics. In terms of value, the PE coated fabrics is likely to exhibit fastest sales increase by expansion at healthy CAGR over the forecast period. Vinyl coated fabrics are likely to be witnessed as top-grossing products in the market and is likely to procure two-fifth market share by 2017-end.
Woven textile materials are likely to lose its trend in polymer coated fabric market in near future. Demand for the non-woven polymer fabrics are anticipated to overcome that of the polymer coated fabrics manufactured from woven textile materials. Woven textile materials are expected to secure more than one-third market share, while knitted textile materials are likely to hold two-fifth value share of total polymer coated fabric market. Bad selvedge and drop stitches are some of major deficiencies in woven textile products that have affected the lower uptake of polymer coated fabrics.
Analysis of Market Based on Segmentation
APEJ region is anticipated to remain most profitable in the polymer coated fabric market, followed by North America and Europe. The polymer coated fabric market in Africa (MEA) and Middle East will exhibit fasted expansion at single-digit CAGR through 2022. While, industrial applications are likely to generate growing opportunity to reach nearly US$ 1 Bn, transportation application of polymer coated fabric will have less demand in the foreseeable future. In terms of applications, production of canopies, roofing and awnings are projected to remain lucrative in the market, reaching a valuation nearly US$ 3 Bn by the end of 2022.
E I du Pont de Nemours and Company, Bayer AG, 3M Company, Nippon Paint Holdings Co., Ltd., Saint-Gobain, PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel NV, The Valspar Corp, and BASF SE are some prominent players that will contribute in the growth of market during the forecast period