September 19, 2023 07:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Sept. 19, 2023 (GLOBE NEWSWIRE) -- In 2023, the polymer coated fabrics market is estimated to be worth US$ 21,791.30 million, with a notable projected CAGR of 5.1% from 2023 to 2033. By 2033, the industry is expected to achieve a significant milestone, reaching US$ 35,835.30 million.
The polymer coated fabrics market is witnessing a surge in popularity due to its waterproof, UV-resistant, abrasion-resistant, and durable characteristics. In addition, the product is experiencing significant demand in applications such as awning pool covers, roof protectors, tarpaulins, and marine covers. It is driven by its excellent physical properties, impermeability to dirt & oil, and corrosion resistance. This strong demand is expected to propel considerable market growth.
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Protective Clothing Market Soars with Growing Industrialization in Emerging Economies
Rapid industrialization in developing countries has led to an increasing demand for protective clothing to ensure worker safety in hostile environments. Further, the demand is driven by cultural, sociological, and psychological factors, with stringent government regulations in the Middle East and Asia Pacific making safety precautions mandatory. As a result, there is a growing need for lightweight, comfortable, and highly heat-resistant protective clothing, leading to an upsurge in demand for coated fabrics.
Coated fabrics with high flame resistance are particularly utilized in manufacturing protective clothing for firefighters. Also, the rising focus on safety measures in transportation applications is expected to boost the polymer coated fabrics market growth.
Eco-Conscious Consumers and Coated Fabrics: Addressing Environmental Concerns
Stringent government regulations have been imposed due to the release of hazardous air pollutants during the manufacturing process of coated fabrics, posing environmental concerns. Also, the growing consumer awareness about the ecological impact of non-recyclable products and disposal issues hampers polymer coated fabrics market growth.
For manufacturers, properly disposing of waste materials remains a significant challenge, as chemical recycling of coated textiles proves costly and leads to logistical issues and limited process flexibility.
The production of coated fabrics, particularly toxic solvents, is the primary source of hazardous air pollutants emitted at various stages of the industrial process. Consequently, these environmental concerns are expected to restrain the market growth of polymer coated fabrics during the forecast period.
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The Asia Pacific region is poised to dominate the global polymer coated fabrics market due to rapid industrial growth and urbanization in key countries like China and India. Additionally, the demand from transportation, protective clothing, and industrial sectors is fueling market growth. Japan and South Korea are significant contributors.
Developing countries' booming automotive industry and increased use in household furniture manufacturing boost demand. Also, innovations like shape memory polymers for smart textiles fuel growth. Small countries in Asia with low labor costs and relaxed regulations are projected to show substantial industrial development, enhancing the region's export and production activities.
"The global automotive industry's increasing preference for lightweight vehicles will likely drive heightened demand for polymer-coated fabrics in the foreseeable future." Lead Analyst Future Market Insights, Inc.
Companies covered in the global polymer coated fabrics market include Continental AG, Sioen Industries NV, Serge Ferrari Group, Trelleborg AB, SRF Limited, Synthomer Plc., Seaman Corporation, Cooley Group Holdings Inc., Haartz Corporation, and Heytex Bramsche GmbH.
Market growth is fueled by initiatives taken by participants.
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Polymer Coated Fabrics Market Key Segmentation
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Have a Look at the Related Reports of Chemicals & Materials Domain:
Automotive Fabrics Market Share: The automotive fabrics market is anticipated to expand at an average CAGR of 3.6% between 2023 and 2033.
Coated Fabrics Market Size: The increasing building & construction sector, bolsters the overall scope for coated fabrics market, which is projected to grow at a CAGR of 5.0% between 2023 and 2033, totaling around US$ 73.8 billion by 2033.
Vinyl Flooring Market Trends: The global vinyl flooring market Size is projected to attain a valuation of US$ 29,885.25 million in 2023 and is estimated to reach US$ 57,699.15 million by 2033.
Polyvinyl Chloride Market Outlook: Global polyvinyl chloride (PVC) market growth is primarily complemented by elevated demand in packaging, automotive and construction industries.
Polyvinylidene Fluoride (PVDF) Market Demand: A CAGR of 9% is expected of the global polyvinylidene fluoride (PVDF) market due to the growing demand during the forecast period.
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