U.S. Coated Fabrics Market Automotive Industry to Drive Demand during 2012-2018
Transparency Market Research has released a latest research report on the U.S. coated fabrics market. The report titled “U.S. Coated Fabrics Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018” forecasts the growth of the overall market at a CAGR of 4.7% during the period between 2012 and 2018.The coated fabrics market in the region was valued at US$2.67 billion in 2011 and is expected to be worth US$3.68 billion by 2018.Volume-wise, the U.S. coated fabrics market generated demand totaling 457.7 million square meters in 2011. The report estimates the demand to increase at a 3.7% CAGR and reach about 590.3 million square meters by the end of 2018.
Due to the various properties of coated fabrics, such as water resistance and elasticity, they are used in making various products, including protective clothing, tarpaulins, air bags, tents, and others. The U.S. coated fabrics market has been majorly driven by the rising demand for motor vehicles. As coated fabrics are used in making the airbags, upholstery, and interiors in light passenger vehicles, the report cites this growth factor to drive the U.S. coated fabrics market.
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Growth of the construction industry has led to increased demand for tarpaulins and tents. Increased industrialization has been also termed as one of the growth drivers of the U.S. coated fabrics market. However, the report points out that vinyl-coated fabrics have a negative impact on the environment and this would hamper the growth of the U.S. coated fabrics market. The easy availability of substitute products will also negatively affect the overall market.
The report segments the U.S. coated fabrics market on the basis of the types of the products offered. Polymer coated fabric, rubber coated fabric, and fabric backed wall coverings are the three major product segments in the U.S. coated fabrics market. In 2011, the polymer coated fabric segment dominated the overall market, with a share of more than 85% by revenue.
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The report mentions that due to increased demand from the automobile sector for the production of airbags and seat covers, this segment is expected to continue its dominance in the market. Fabric backed wall coverings are estimated to be the fastest growing segment of the U.S. coated fabrics market during the forecast period.
On the basis of the various applications of coated fabrics, the report categorizes the U.S. coated fabrics market into protective clothing, transportation, industrial sector, furniture industry, and others. Transportation was the largest segment in 2011, accounting for more than 30% of the market.
However, the report indicates that during the forecast horizon, the furniture industry is expected to display the fastest growth and emerge as the key application segment of the U.S. coated fabrics market. According to the report, the U.S. coated fabrics market is highly fragmented with the top six players accounting for just 26% of the market in 2011. Omnova Solutions led the overall market, followed by Spradling International Incorporated, Takata Corporation, Canadian General Tower, Saint Gobain, and Trelleborg AB.