The global rubber coated fabrics market is prophesied to ride its growth on the back of hefty investments directed toward steel and military, chemical, infrastructure, automotive, and oil and gas industries in Asia Pacific regions. Developing countries of the world, especially in Asia Pacific, are experiencing an unwavering boost in their economic growth. While this could notably augur well for the global market, there are more factors anticipated to bring in some favorable opportunities for industry players. The robust application outlook in the automotive sector on account of tight regulatory compliances and consistent customization and aesthetic improvement needs could promise an upward growth in the market.
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As per the latest study of Transparency Market Research (TMR), the global rubber coated fabrics market is envisaged to post a CAGR of 5.0% for the forecast timeframe 2017–2022. By the concluding forecast year, the market could collect a revenue of approximately US$2.0 bn, a progress from an estimated US$1.5 bn in 2017.
Global Rubber Coated Fabrics Market: Major Insights
The world rubber coated fabrics market is projected to lay its hopes on the rapidly growing transportation industry which could exhibit a significant demand in the next few years. Infrastructural enhancements planned on the part of metro railways and aggressive demand for automobiles are foreseen to strongly intensify the rise in the growth of the market. The enforcement of safety regulations for industrial workers is foretold to increase the demand for protective clothing, which could be a major application of rubber coated fabrics.
On the basis of segmentation, the world rubber coated fabrics market is prognosticated to be classified as per coating, material, and application. The analysts foresee three main types of coating to make their presence known in the market, i.e. transfer, direct, and solidification. Out of these, transfer coating could secure a top spot with a 4.1% CAGR expected to be posted between 2017 and 2022. By material, the market could be segmented into natural and synthetic. However, there could be more number of rubber coated fabrics segments by application, such as industrial, defense and public safety, construction, aerospace, and automotive.
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With regard to geographical segmentation, the world rubber coated fabrics market is predicted to be cataloged into Asia Pacific except Japan (APEJ), Europe, North America, Japan, Latin America, and the Middle East and Africa (MEA). By 2022, APEJ could still remain as one of the most attractive regions for rubber coated fabrics with respect to revenue. By the end of 2017, APEJ is envisioned to garner a 28.7% share. North America and Europe could be among the second-largest regions, where the latter is prognosticated to rise at a 4.9% CAGR.
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