Key Market Players In Elastomer Coated Fabrics Market

28/06/2019

The elastomer coated fabrics market is projected to grow from USD 9.67 billion in 2017 to USD 11.85 billion by 2022, at a CAGR of 4.16% from 2017 to 2022. Factors such as increasing demand from transportation, protective clothing, and industrial applications; increasing safety concerns; and stringent government regulations for providing safety to workers; are expected to augment the growth of the elastomer coated fabrics market.

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Enhanced elasticity, high visibility, weldability, and resistance to flame, UV radiation, chemical, oil, water, stain, scratch, and abrasion are various advantages of elastomer coated fabrics, which are driving the demand for elastomer coated fabrics across various end-use applications.

On the basis of product type, the elastomer coated fabrics market has been segmented into silicone coated fabrics, TPU coated fabrics, TPO coated fabrics, and rubber coated fabrics. The silicone coated fabrics segment led the elastomer coated fabrics market in 2016. Owing to their superior properties, silicone elastomers are increasingly being used as a substitute to organic rubbers coatings. However, the TPU coated fabrics segment is projected to grow at the highest rate from 2017 to 2022, due to the increasing demand from various end-use industries such as automotive, building & construction, wire & cable, footwear, engineering, and medical.

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The major applications of elastomer coated fabrics are transportation, protective clothing, industrial, roofing, awnings & canopies, furniture & seating, and others. Transportation is the fastest-growing application segment of elastomer coated fabrics market. This is due to the increasing demand for automobiles, especially, in the emerging markets of China and India in the Asia Pacific region. Also, implementation of stringent safety standards for automobiles is expected to drive the global demand for elastomer coated fabrics in the transportation sector.Asia Pacific is the fastest-growing market for elastomer coated fabrics, in terms of value. Growing industrialization backed by infrastructural development has offered enormous growth opportunities for the elastomer coated fabrics market in Asia Pacific. The increasing economic growth rate and he1avy investments in industries such as oil & gas, automotive, infrastructure, chemical, and steel & military drive the elastomer coated fabrics market.

The growing automobile sales and increasing government regulations on safety measures have led to an upward trend in the region's elastomer coated fabrics industry. The increasing population along with industry alliances is expected to fuel the elastomer coated fabrics market in the region. Also, the major market players are setting up their plant in Asia Pacific due to cheap labor and availability of raw materials.