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Rubber Coated Fabrics Market size is forecast to reach US$2.3 billion by 2027, after growing at a CAGR of 3.5% during 2022-2027. The rubber coated fabrics market is driven by increased demand from end-use applications in such as transportation, protective clothing, furniture & seating, roofing, and others. Rubber coated fabrics based on natural rubber, polychloroprene, ethylene propylene diene monomer, and butyl rubber are widely used in these applications as it offers enhanced elasticity, high visibility, weldability, and resistance to scratch, flame, chemical, oil, water, UV radiation, stain, and abrasion. In addition, it is projected that the bolstering construction and automotive industry will increase the demand for natural rubber, ethylene propylene diene monomer, and butyl rubber based coated fabrics, which will also contribute towards the market growth during the forecast period. Furthermore, the rapid expansion of the military & defense market is further aiding the market growth.
COVID-19 Impact
Rubber coated fabric demand was negatively impacted by the COVID-19 epidemic in a variety of end-use industries, including aerospace, automotive, marine, and others. OEMs were forced to operate at zero or partial capacity due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, resulting in lower demand for rubber coated fabric products. Due to the closure of non-essential businesses, the outbreak had a significant impact on the automotive industry. As the demand for automobiles dwindled, production was abruptly halted. According to the International Organization of Motor Vehicle Manufacturers, global automotive production will fall by 16 percent in 2020. Toyota Motor Corporation’s global vehicle production in 2020 was down 12.6 percent year over year due to the impact of the COVID-19 pandemic. As a result, demand for rubber coated fabrics has decreased significantly, affecting market revenue in 2020.
Rubber Coated Fabrics Market Segment Analysis – By Application
The synthetic rubber segment held the largest share in the rubber coated fabrics market in 2021 and is forecasted to grow at a CAGR of 3.4% during 2022-2027. In two major ways, synthetic rubbers like polychloroprene, ethylene propylene diene monomer, and butyl rubber outperform natural rubbers: thermal stability and resistance to oils and related compounds. Synthetic rubber outperforms natural rubber in terms of abrasion resistance, chemical resistance, fluid resistance, ozone resistance, electrical heat resistance, and aging effects. Many synthetic rubbers, including polychloroprene, ethylene propylene diene monomer, and butyl rubber, are flame-resistant, making them suitable for use as electrical device insulation. Thus, all these advantageous properties of synthetic rubber are making it an effective option for coated fabrics, which in turn, is stimulating the growth of the market.
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Rubber Coated Fabrics Market Segment Analysis – By End-Use Industry
The transportation segment held the largest share in the rubber coated fabrics market in 2021 and is forecasted to grow at a CAGR of 4.8% during 2022-2027, due to the increasing usage of rubber coated fabrics in automobiles, aerospace, marine, and locomotive. Rubber coated fabrics are appropriate for a wide range of automotive end-uses such as interior, exterior, airbags, seat belts, truck tarpaulin & covers, boat seating, boat topping, rafts, and kayaks. Smoke seals made from rubber coated fabrics are used in aircraft to ensure that smoke or any other hazardous gas does not penetrate the cabin. Rubber coated fabrics are frequently used in cable covers and sleeves to provide properties such as fire resistance. The fabric used in the marine environment must be resistant to saltwater and weather because it will be exposed to the elements for extended periods and is expected to last at least a decade. Rubber coated fabric is particularly resistant to oil and grease, as well as abrasion, allowing it to last even when exposed to harsh conditions, owing to which it is often used in the marine industry. Thus, the wide application of rubber coated fabric in the transportation industry is the major factor boosting the market growth.
Rubber Coated Fabrics Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the rubber coated fabrics market in 2021 up to 41%, owing to spiraling demand for rubber coated fabrics from the transportation industry in the region. According to the State Council of the People’s Republic of China, between January and June, the industry completed the construction of over 20.92 million deadweight tonnes (dwt), up 19 percent year on year. China’s shipbuilding sector had received orders totaling 86.6 million dwt by the end of June 2021, up 13.1 percent year on year. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), automotive production in Malaysia and Vietnam increased to 571632 and 250000 units, respectively, in 2019, up 1.2 percent and 5.5 percent from the previous year, thanks to rising per capita income. Boeing predicted that China’s airlines would spend US$1.4 trillion on 8,600 new aircraft and US$1.7 trillion on commercial aviation services over the next 20 years in November 2020. With the increasing production of marines, automobiles, and aircraft, the demand for rubber coated fabric will also exponentially increase for various applications, which will aid in market growth. Thus, the increasing transportation industry in APAC is the major factor boosting the market growth during the year 2021 and the forecast period.
Rubber Coated Fabrics Market Drivers
Increasing Electric Vehicle Production
Rubber coated fabrics exteriors not only just reduce an EV’s weight by hundreds of pounds. They also reduce both the cost of materials and manufacturing, thereby either lowering the EV’s price for consumers or increasing profit for the automaker (or both). Also, rubber coated fabrics with special coatings cost significantly less than steel and aluminum and don’t require further complicated and expensive steps like stamping, paint booths, or rustproofing. Electric vehicle production and adoption are expected to rise around the world. According to Invest India, the Indian EV market is expected to grow at a CAGR of 44 percent between 2020 and 2027, with annual sales reaching 6.34 million units by 2027. California has mandated that by 2035, all new passenger vehicles sold in the state by 100% electric. The recently unveiled American Jobs Plan proposes a total of US$174 billion in incentives, rebates, and investments to promote the production and adoption of electric vehicles. GM has also proposed that all diesel and gasoline-powered cars be phased out by 2035, with the entire fleet being converted to electric vehicles. As a result, it is expected that a gradual shift toward electric vehicles will boost demand for rubber coated fabrics, propelling the market forward.
Increasing Demand for Aircrafts
Industrial workers are exposed to a wide range of dangers daily. Chemicals and industrial products can be irritating, corrosive, flammable, and even deadly. As a result, workers are required to wear protective clothing to avoid coming into contact with these hazards. The organization has established safety standards for industrial disasters such as manufacturing machinery failures, fires, and other incidents. For instance, according to Occupational Safety and Health Administration (OSHA) 1910.132 standard, it is mandatory for workers in the oil & gas industries to wear protective clothing. Furthermore, NFPA 2112 and 2113 (for flash-fire hazards), NFPA 70E (for arc-flash hazards), and ANSI/ISEA 107-2015 (American National Standard for High-Visibility Safety Apparel) are other regulations, which govern protective clothing usage in the oil and gas industry. These regulations are supporting rubber coated fabrics market growth as they are often employed in the manufacturing of protective textiles. Thus, such regulations are propelling the rubber coated fabrics market forward during the forecast period.
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Rubber Coated Fabrics Market Challenges
Environmental Concerns Related to the Rubber
Despite the numerous benefits that natural rubber provides to the world’s modernization, the result of natural rubber processing continues to pose a serious problem due to its highly polluted effluents. Latex rubber processing wastewater typically contains high levels of BOD, COD, and SS. Because its wastewater contains high biological oxygen demand and ammonia, the rapid growth of this industry generates large amounts of effluents from its processing operations, which is a major problem. The discharge of wastewater from the rubber processing industry into the environment without proper treatment may have serious and long-term consequences. Thus, such environmental concerns related to rubbers limit the overall growth of the global rubber coated fabrics market over the forecast period.
Rubber Coated Fabrics Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the rubber coated fabrics market. Rubber coated fabrics market top 10 companies include:
Recent Developments
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Key Takeaways
Relevant Reports
A. Coated Fabrics Market
https://www.industryarc.com/Report/16453/coated-fabrics-market.html
B. Polymer Coated Fabrics Market
https://www.industryarc.com/Report/16420/polymer-coated-fabrics-market.html
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