Global Rubber Coated Fabrics Market: Extensive Uptake in Automotive Industry to Accentuate Growth
Companies exhibiting their prominence in the global rubber
coated fabrics market include N-TORN Corp, ICP DAS Co., Ltd.,
Sixnet Holding LLC, L-Com, Inc., and Microsemi Corporation, finds
Transparency Market Research (TMR). Top players seek to retain their
stronghold by focusing on product innovations and by actively making
product launches to meet current and emerging needs of various
end-use industries, observes TMR. These initiatives by leading
players are expected to raise the level of competition in the
landscape over the years. Several players are tapping lucrative
avenues in emerging economies, notably in Asia Pacific, in order to
strengthen their positions.
The global market for rubber coated fabrics stood at US$1.5 billion
in 2017 and is projected to rise at a CAGR of 5.0% from 2017 to 2022.
By the end of the assessment period, the global market is likely to
touch a revenue valuation of US$2.0 billion.
The key coating types comprise transfer coating, direct coating, and
solidification coating, of which transfer coating accounts for the
leading share in the global market. The segment is projected to reach
a valuation of US$790.5 million by the end of 2022. The dominant
demand for transfer coating notwithstanding, other segments are also
expected to pick up over the years.
The various regional markets for rubber coated fabrics market are
North America, Latin America, APEJ, Europe, and the Middle East and
Africa. Among these, APEJ is anticipated to emerge as one of the most
lucrative markets. The regional market is likely to account for the
leading global share and is anticipated to rise at a CAGR of 5.3%
CAGR during 2017–2022. Meanwhile, Europe is a potentially
attractive market expected to collect substantial revenue by the end
of the forecast period.
Substantially
Rising Demandl in End-use Industries World Over Driving Market
The rubber coated fabrics is driven primarily by the burgeoning use
in several end-use applications including industrial, aerospace,
automotive, and construction, and defense and public safety. The
staggering quantum of investments in these industries in several
industrialized nations and emerging economies is boosting the market.
The substantial use of rubber-coated fabrics in a variety of
applications such as protective garments, gymnasium mattresses,
lifeboats, boats, rainwear, storage bags, and food conveyor belts, is
driving the market. The extensive demand for rubber coated fabrics in
automotive industry, such as in making automotive upholstery, is
accentuating the growth of the market.
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The market is expected to immensely benefit from the rapid strides
made by the transportation industry in various regions. Coupled with
this, vast infrastructural upgrades being planned in the railway
sector in several developing and developed nations are likely to
fortify the uptake. In particular, the expansion of metro in these
nations will spur the demand for rubber coated fabrics. The recurrent
focus on implementing workplace safety norms in various industries
where the workers are involved in the hazardous work has bolstered
the demand for protective clothing. This in turn is boosting the
adoption of rubber-coated fabrics.
Swift Pace of
Infrastructure Development in Industrialized Nations Present
Lucrative Avenues
Emerging economies world over, especially in Asia Pacific, are
presenting substantial avenues for manufacturers. The robust advances
made by public infrastructure supported by public and private
investments are likely to aid in the expansion of the rubber coated
fabrics market. A rise in demand for home decoration products will
also stoke the demand for rubber-coated fabrics in developing
economies.
In the coming years, the commercial and industrial sectors are
expected to create potential growth prospects in the global rubber
coated fabrics market. Recent advances in material sciences and
constant advancements in manufacturing technologies are crucial
factors expected to unlock promising avenues in the market.
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