Rubber Coated Fabrics Market Driven by Prosperity of Construction and Automotive Industries in APAC - TMR
Albany,NY, November 23, 2017 (Newswire.com) - A fresh business and commerce study by Transparency Market Research (TMR) has discovered that the vendors operating in the global rubber coated fabrics market are poised to gain vast new opportunities on the back of radical investments toward chemical, steel, military, infrastructure, oil and gas, and automotive industries in the emerging economies in Asia Pacific. The report identifies Trelleborg AB, Montaplast GmbH, Packing Private Limited, Zenith Industrial Rubber Products Ltd., and Ravasco Transmission as some of the key companies currently ahead of the curve in the global rubber coated fabrics market. Most of these players are aspiring to convert their products in accordance to tight regulatory compliances and are customizing them to meet the aesthetic norms.
As per the projections of the TMR report, the demand in the global rubber coated fabrics market will increment at a CAGR of 5.0% during the forecast period of 2017 to 2022. By the end of the forecast period, 2022, the total revenue in this market is estimated to reach a valuation of US$2.0 bn, considerably up from its evaluated worth of US$1.5 bn in 2017. The vendors of this market are also expected to make products that find application in protective clothing, awnings and canopies, furniture, and roofing in order to maintain their position of strength against the competition. The report aspires to serve as a credible business tool for its targeted audiences such as coated fabric manufacturers, distributors of raw materials, end-use industries, and government and research organizations.
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Transfer Coating Rubber Segment Currently Most Profitable
Based on coating type, the market for rubber coated fabrics has been segmented into transfer coating rubber, direct coating rubber, and solidification costing rubber. The transfer coating rubber segment is projected to experience incrementing demand at an above-average CAGR of 4.1% during the said forecast period, with this particular segment estimated to reach a valuation of US$790.5 mn by 2022. Based on material, the rubber coating fabrics market has been bifurcated into natural and synthetic rubber coated, whereas application-wise, the market has been classified into industrial, defense and public safety, construction, aerospace, automotive, and others.
Geographically, the TMR report picks out the region of Asia Pacific excluding Japan (APEJ) as most lucrative, which is driven by radical economic growth, rapid industrialization in countries such as China and India, increased budget for military, and increased disposable income which has been driving the automotive and construction sectors. The demand in the APEJ rubber coated fabrics market is projected to expand at an above-average CAGR of 5.3% during the forecast period of 2017 to 2022. Europe is another profitable region for the vendors to concentrate on, promising a revenue of US$532.1 mn by 2022.
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Rapid Construction in APAC in Accordance to Future Demand
Apart from various applications in end-use industries, the global rubber coating fabrics market is also gaining traction from factors such as rising safety measures in transportation application and stringent regulatory requirement for worker’s safety with projecting clothing. Rapid industrialization in Asia Pacific pertaining to metro railways and prosperity of the automotive industry is foreseen to boost the demand in the near future.
On the other hand, environmental concerns regarding the manufacturing of rubber which is not exactly a biodegradable material, availability of substitutes, and the need for proper disposing or recycling of waste produced during manufacturing and application are obstructing the market for rubber coated fabrics from attaining its true potential. Nevertheless, the vendors operating in this market are advised to concentrate on the development of innovative products and focus on developing countries in APAC in order to gain new revenue avenues.
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Source: Transparency Market Research