New product launch was the most adopted strategy by leading players to strengthen their position in the Coated Fabrics Market
The coated fabrics market is projected to grow from USD 23.92 billion in 2018 to USD 29.14 billion by 2023, at a CAGR of 4.0%. The strategies of new product launch, expansion, acquisition, and agreement were adopted by the key players to strengthen their positions in the coated fabrics market.
The key players operating in the coated fabrics market include Continental AG (Germany), Spradling International Inc. (US), Seaman Corporation (US), Saint-Gobain SA (France), Trelleborg AB (Sweden), Sioen Industries NV (Belgium), Serge Ferrari Group (France), Low & Bonar Plc (UK), and OMNOVO Solutions Inc. (US).
Continental AG is a leading manufacturer of coated fabrics, globally. The company produces various coated fabrics mainly used in the transportation, protective clothing, and industrial applications. It has good depth and breadth in its product offering, catering to most specific requirements of its customers. The company has been focusing on the strategies of expansion and new product launch to maintain its leadership in the market. For instance, in March 2017, the company opened a new plant for coated fabrics in Changshu, China. The new center is expected to better serve Chinese customers’ demands in different industries.
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Spradling International Inc. is one of the major players in the coated fabrics market. The company through its R&D facility introduces new and innovative products to serve its customers better. For instance, in May 2016, the company launched a new product, Hi-Loft Flex, to enhance the touch and feel of coated fabrics used in various applications in the automotive industry.
Trelleborg AB is another leading manufacturer of coated fabrics. The company operates in the Americas, Europe, and Asia. It acquired Laminating Coating Technologies Inc. (Lamcotec) (US) in July 2018 as part of its strategy to strengthen its position in the US market. In February 2018, it also acquired Dartex Holdings (UK), a manufacturer of coated fabrics primarily for the healthcare & medical industry. The acquired company is also a leading manufacturer of coated fabrics for pressure injury prevention. This acquisition is expected to broaden the company’s offering in the coated fabrics market.
Related Reports:
Coated Fabrics Market by Product (Polymer, Rubber and Fabric-backed wall coverings), Application (Transportation, Protective Clothing, Industrial, Awnings, Roofing & Canopies, Furniture & Seating) and Region - Global Forecast to 2023
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