The elastomer coated fabrics market is projected to grow from USD 9.67 Billion in 2017 to USD 11.85 Billion by 2022, at a CAGR of 4.16% during the forecast period. This market is rapidly evolving as the major market players are playing a crucial role in the growth of the market. Some major players such as Takata (Japan), Spradling International (US), Seaman Corporation (US), Saint-Gobain (France), and Continental AG (Germany) are some of the major players operating in the elastomer coated fabrics market.
Takata (Japan) and Spradling International (US) capture a significant share in the global elastomer coated fabrics market. These companies mainly focus on launching innovative products to meet the requirement of their customers. The growing applications of elastomer coated fabrics in various end-use applications require technological developments. Thus, the players are concentrating to develop advanced technologies to meet the growing demand.
The major players are concentrating on developing cost-effective technologies. These companies are investing to upgrade their units for enhanced production of elastomer coated fabrics. The company also focuses to meet the increasing demand for elastomer coated fabrics from a variety of end-use applications such as transportation, protective clothing, industrial, roofing, awnings & canopies, furniture & seating, and others.
New product developments and supply contracts are the key strategies adopted by major manufacturers of elastomer coated fabrics in the recent past. The top players in the elastomer coated market adopted these strategies to attain growth in elastomer coated fabrics market and to enhance their product portfolio.
Takata is focusing on launching new products to stay competitive in the market. The company launched a life-saving automotive technology in 2014. It is also focusing to develop its market presence through expansion. It established a new subsidiary, Takata Safety Systems Hungary Kft. (Hungary), in Hungary to manufacture airbags and airbag components for car manufacturers in Europe. Thus, the company is concentrating on new product launches and expansions to meet the growing demand for elastomer coated fabrics.
Spradling International is a developer, manufacturer, and supplier of coated fabrics. The company is engaged in the business of providing performance solutions for end-use applications such as automotive, healthcare, marine, and seating. The company focuses on the development of new elastomer coated fabric products and provides services in support of enhancing any seating environment for various applications. It is expanding its coated fabrics business by entering into innovations in product patterns and technologies.
Elastomer Coated Fabrics Market by Product (Silicone, TPO, TPU, Rubber), Application (Transportation, Protective Clothing, Industrial, Roofing, Awnings & Canopies, Furniture & Seating), and Region - Global Forecast to 2022
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