The next five years for engineered coated fabrics (in the aerospace industry) are going to be attractive with healthy growth opportunities in the entire value chain. The market is subjected to grow at a healthy rate over the next five years to reach US$ 167.7 million in 2024. The key market trends driving the growth of engineered coated fabrics in aviation industry are increasing aircraft deliveries, increasing demand for lightweight products, development of high-performance applications, technological advancements, and introduction of stringent standards regarding the passenger safety.
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Aerospace Engineered Coated Fabrics Market Segment Insights:
Civil aircraft is likely to remain the dominant and the fastest-growing segment of the market during the forecast period. Inclination towards lightweight yet durable parts for achieving greater fuel efficiency and stringent regulations towards passenger safety are the major factors driving the demand for engineered coated fabrics in the civil aviation industry. Further, increasing aircraft deliveries to meet rising passenger traffic is acting as a catalyst towards the growth of the segment.
Polyurethane coating is expected to remain the most dominant segment of the market during the forecast period, whereas rubber coating and silicone coating are likely to witness healthy growth rates over the next five years. Polyurethane coating offers high-tensile strength and possesses excellent resistance to heat and flame, making them the most preferred coating type for aerospace engineered coated fabrics.
Hot-melt coating is the most widely used coating process in the market and is also projected to grow at the highest rate during the forecast, owing to its low-processing time. In the hot-melt coating process, coating material can be applied without any organic solvents at a high application rate, which leads to its low-processing time.
North America is projected to remain the largest market for aerospace engineered coated fabrics during the forecast period. The USA is the growth engine of the region's market driven by the presence of a large number of OEMs, tier players, engineered coated fabric suppliers, and airlines. Rising commercial aircraft fleet size is likely to further boost the overall demand for engineered coated fabrics in the foreseeable future in North America.
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