2024 Polymer Coated Fabrics Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Polymer Coated Fabrics Market Between 2024-2033?
The market size for polymer coated fabrics has experienced significant growth in the past few years. It is estimated to increase from $21.54 billion in 2023 to $22.79 billion in 2024, with a compound annual growth rate (CAGR) of 5.8%. This growth during the historic period has been fueled by industrial applications, automotive sector demand, outdoor and recreational equipment, architectural uses, the medical and healthcare sector, and consumer goods.
Expectations are for the polymer coated fabrics market size to experience significant growth in the upcoming years, reaching a value of $28.7 billion in 2028 with a compound annual growth rate (CAGR) of 5.9%. The predicted expansion during the forecast period is due to factors such as sustainability initiatives, technological progression, enhancements in healthcare infrastructure, e-commerce evolution, urbanization and infrastructure growth, along with resilience in the outdoor and sports sector. The forecast period also anticipates major trends including customization in design and aesthetics, the incorporation of intelligent textiles, use in medical and healthcare textiles, and strategic alliances.
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What Are the Major Factors Contributing to the polymer coated fabrics Market Expansion?
The surging trend of urbanization is propelling the expansion of the polymer-coated fabrics market. Urbanization essentially implies an increased concentration of human beings within specific geographic entities, necessitating the transformation of land for residential, commercial, industrial, and transportation uses. The rising urbanization trend has led to an enhanced utilization of polymer-coated fabrics, primarily in the residential and commercial sectors. These fabrics are integrated into various products, including carpets, airbags, geotextiles, industrial fabrics, architecture, defense systems, transportation, space exploration, healthcare, sports equipment, mats, bedding products, curtains, and many kinds of upholstery items. As per the data made public in September 2021 by the United Nations Department of Economic and Social Affairs (a U.S.-based department of the United Nations Secretariat which promotes international economic and social collaboration and development), around 4.46 billion people globally will be living in urban regions during 2021. This figure is expected to surge to 6.68 billion by 2050, indicating an increase of 2.22 billion more individuals settling in urban areas. Hence, the accelerating pace of urbanization is foreseen to fuel the polymer-coated fabrics market’s growth in the forthcoming years.
What Are the Notable Segments in the Polymer Coated Fabrics Market?
The polymer coated fabrics market covered in this report is segmented –
1) By Product: Vinyl Coated Fabrics, PU Coated Fabrics, PE Coated Fabrics, Other Products
2) By Material Type: Knitted, Woven, Non-Woven
3) By Application: Transportation, Protective Clothing, Roofing, Awnings and Canopies, Furniture and Seating, Others Applications
4) By End Use Industries: Automobile, Aerospace, Marine, Chemical Processing, Military, Other End Use Industries
What Are the Transformative Trends Influencing the Polymer Coated Fabrics Market?
The ongoing advancements in technology is a prominent trend that is shaping the polymer-coated fabrics market. Leading players in this market are innovating with state-of-the-art technologies to maintain their market standing. As a fitting example, in March 2022, Rivertex Technical Fabrics Group, a firm based in the Netherlands specializing in coated textiles and unsupported films, introduced Rivercyclon. This product presents a non-toxic, recyclable, light, and budget-friendly substitute to PVC-coated fabrics. Entirely recyclable, Rivercyclon is composed of a singular polymer and is devoid of any plasticizers or additional pollutants. In terms of weight, Rivercyclon is up to 40% less heavy compared to its PVC-coated counterparts. Moreover, it exhibits high resistance to UV and superb welding strength. As per the information in the press release by the company, Rivercyclon is cost-effective and is available in sizes reaching up to 320 cm in width.
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What Regions Are Leading the Growth Trajectory of the Polymer Coated Fabrics Market?
Asia-Pacific was the largest region in the polymer coated fabrics market share in 2023. The regions covered in the polymer coated fabrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Polymer Coated Fabrics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the polymer coated fabrics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Polymer Coated Fabrics Market Include
1. Polymer Coated Fabrics Market Executive Summary
2. Polymer Coated Fabrics Market Segments
3. Polymer Coated Fabrics Market Size And Template Market Growth Rate
4. Key Polymer Coated Fabrics Market Trends
5. Major Polymer Coated Fabrics Market Drivers
……
25. Key Mergers And Acquisitions In The Polymer Coated Fabrics Market
26. Top Polymer Coated Fabrics Companies
27. Polymer Coated Fabrics Market Opportunities And Strategies
28. Polymer Coated Fabrics Market, Conclusions And Recommendations
29. Appendix
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