New Product Launches & Developments to be the Key Growth Strategy of Coated Fabrics Market

The global coated fabrics market is highly unconsolidated with many large and small players existing in the market and having a regional presence. Currently, the global coated fabrics market is dominated by a number of major players, such as OMNOVA Solutions Inc. (U.S.), Trelleborg AB (Sweden), Saint-Gobain SA (France), Takata Corporation (Japan), Continental AG (Germany), Sioen Industries NV (Belgium), Spradling International Inc. (U.S.), Haartz Corporation (U.S.), Uniroyal Engineered Products LLC (U.S.), and Morbern Inc. (Canada) among others. Most of these companies are leaders in the production of coated fabrics products and applications. These companies focus on new product developments, launches, and expansions in order to achieve growth in the coated fabrics market.

The market players are concentrating on increasing their presence with expansions and product developments and expecting a surge in coated fabrics demand from different industries; especially, from transportation, protective clothing, and industrial segments. The companies are investing in setting-up new facilities, mainly in the Asia-Pacific and European region to cater to the increasing demand from these markets.

New product developments & launches are the key strategy adopted by the major coated fabrics manufactures. For instance, OMNOVA Solutions Inc. (U.S.) extended their ‘PreVail’ coated fabrics product line by introducing two new products under the brand in 2014. This new product demonstrates OMNOVA’s drive to sustainable innovation dealing with market trends and customers’ needs. Between 2011 and 2015, companies, such as Takata Corporation (Japan), Continental AG (Germany), Sioen Industries NV (Belgium), Spradling International Inc. (U.S.), and Haartz Corporation (U.S.) among others adopted the strategy of new product developments & launches to be competitive in the coated fabrics market.

Moreover, the leading market players are focusing on expanding their existing production facilities in order to meet the growing demand of coated fabrics especially in the Asia-Pacific and European region. For example, in 2013, Takata Corporation (Japan) established a new plant in Russia for the manufacturing of steering wheels, airbags, and seat belts. It was an excellent strategic move to optimize its production footprint in the European region.

The market leaders have adopted different strategies for the developed and developing countries. In developed countries, the demand is expected to be low as compared to the developing countries. The strategy of the market players is focused on developing & launching new products, revamping production capacities, and contracts & agreements, and acquisitions among others.

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