Engineered Coated Fabrics Market to Reach US$ 891.5 Million in 2023
Engineered coated fabrics refer to the highly technically coated fabrics, which include the combination of technical fibers and specific polymers to coat the fabric as per diverse requirements of applications. The engineered coated fabrics are marking their presence in various high-end technically advanced applications for various end-use industries. Some of the keys engineered coated fabric applications are airbags, aerostats, evacuation slides, train bellows, gaskets and seals, fuel storage, as well as health and medical accessories, such as wound retractors and cuffs mattresses.
The engineered coated fabrics market is characterized by a wide array of factors which are directly or indirectly engendering the growth of the market. Among all, the biggest factor is the continuous gain in the market traction of engineered coated fabrics in various end-use industries including aerospace & defense and automotive, owing to their superior performance. Another factor pushing the demand for engineered coated fabrics market is a growing penetration of polymers and textiles in various industries, such as aerospace & defense, automotive, marine, and oil & gas. Increasing aircraft deliveries, increasing defense budget of developing economies, especially China and India, and rising passenger safety concerns are further proliferating to the growth of the engineered coated fabrics market.
The global Engineered Coated Fabrics Market is projected to grow at a healthy growth rate over the next five years to reach US$ 891.5 million in 2023. An organic growth of the automotive and aircraft industry coupled with an increasing demand for lightweight products, the development of new high-performance applications using engineered coated fabrics, an advancement in the technology, and the introduction of stringent government standards regarding the safety are some of the major factors that are bolstering the demand for engineered coated fabrics in various end-use industries.
Engineered coated fabric manufacturers have to rely rigorously on the quality check and legal documentation of parts and process prior to their usage in different end-use industries, which can be a time-consuming process. A growing safety concern and stringent government regulations, such as FAA’s Technical Standard Order (TSO) C69, and FAR 121, and National Transport Safety Board (NTSB), for aircraft evacuation slide and safety provision for workers, are the key factors, which may adversely impact the demand for engineered coated fabrics.
There are a series of directions where the engineered coated fabrics manufacturers are moving today with the purpose to improve the overall customer experience as these fabrics are mostly customized to meet the specific requirements of the customer. Engineered coated fabrics are an indispensable focus area for all the major tier-players, who are engaged in developing products and fabricating parts, such as airbags, evacuation slides, gaskets, seals, fuel tanks, upholstery, and hospital seats, without sacrificing performance.