The tarpaulin sheets market is about to witness an expansion of CAGR 4.4% through 2028. The demand for tarpaulin sheets is surging in the agricultural sector which is thereby escalating production of it. Hoarding tarps segment will drive the market over the forecast period and hold maximum revenue share. Tarpaulin sheets market is flourishing in the Asia-Pacific region, excluding Japan, which is going to bring up an excellent increment opportunity sooner.
“Rapid urbanization and increased concrete construction is boosting the demand for heavy-duty and waterproof tarpaulins. India, Vietnam and China will witness maximum growth in the forecast period due to increased development in agriculture and infrastructure,” states the FMI Analyst.
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Tarpaulin Sheets Market – Key Highlights
- By product type, waterproof and heavy-duty material segment will remain preferred
- China, India and Vietnam hold the maximum market value
- Agriculture, logistics, constructions account for nearly 28% market share in 2019
- Market value to grow by 1.5x through 2028
Tarpaulin Sheets Market – Driving Factors
- Major agricultural and construction industries rely on tarpaulin sheets as they are economical and safe
- Logistics, storage and warehouses continue to create demand for tarpaulin
- Due to rapid urbanization and use of it as a temporary shelter for livestock has increased production therefore, demand is growing briskly
Tarpaulin Sheets Market – Key Restraints
- There are sheets of various degrees and most of them are not easily available which makes the consumer shift to a better alternative
- Not all farm cultivators are able to rely on it, hence, production is reduced
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COVID-19 Market Impact
Covid-19 has definitely posed serious threats on the market due to social distancing measures and reduced production. Though this industry is likely to gain momentum as tarpaulin sheets are irreplaceable commodities and agricultural sector will bring incremental opportunities soon. Now, due to the lockdown ease, infrastructural projects will provide tremendous scope as it offers great protection against bad weather conditions.
Competition Landscape
Tan Dai Hung Plastic JSC., Gia Loi JSC., Tu Phuong Tarpaulin, KSA Polymer, K-TARP VINA Co. Ltd., Vietnam Hoa Ha Co. Ltd., Fulin Plastic Industry Co., Ltd., C&H Tarps Co., Ltd., Veer Plastics, Bag Poly International, Maha Shakti Polycoat., Tara Tradelink are few of the key players in the market. Advancement in quality and availability as a better waterproof and heavy-duty material is where manufacturers are now focussing.
Tier 2 players are working on product innovation and introduction while Tier 3 players are focussing on limited portfolio due to lesser domestic reach.
More on the report
This report analyses various segments of the market on the basis of lamination, basis of type (hoarding tarps, truck tarps, mesh tarps or sports tarps), basis of weight (less than 100GSM, between 300-600 GSM etc.) and end-use (agriculture, automobile, construction) and region.
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