Textile
Coatings Market Overview
Textile
coatings market is expected to grow USD 8.6 billion CAGR 4.30% during the
forecast 2021-2030.
Textile
coatings are gaining momentum and witnessing rising applications across major
end-use industries. The assessment offered by Market Research Future (MRFR) has
revealed that the global textile coatings market is poised to register a steady
CAGR across the projection period 2021 to 2030. These coatings enable
depositing polymeric resin on textiles. The benefits of the process have paved
its way across different industry verticals.
The growth
of the clothing industry is the major factor responsible for the development of
the textile coatings market in the forthcoming years. Increasing
disposable income is likely to favor market expansion in the foreseeable
future. These coatings are also extensively used in the automotive sector for
the manufacturing of upholstery. The growing demand for vehicles is poised to
encourage the revenue growth of the textile coatings market in the years to
come.
The
construction sector has also unleashed developmental opportunities to the
market. In addition, the rising demand for textile coatings for home
furnishings is prognosticated to accelerate revenue generation for the players
of the market over the next couple of years. On the flip side, rising
environmental concerns, in conjunction with the implementation of stricter
regulations, is poised to undermine the expansion of the textile coatings
market in the years to come.
Market
Segmentation:
On the
basis of type of
coating, the global textile coatings market has been segmented into thermosets,
thermoplastics, and others (silicon, fluoropolymers). The thermosets segment
can be further sub-segmented into natural rubber, styrene-butadiene rubber
(SBR), and others (nitrile rubber, butyl rubber, and others). The
thermoplastics segment has been sub-segmented into polyvinyl chloride (PVC),
acrylics, polyurethane (PU), polyolefins, and others.
On the
basis of coating method, the textile coatings market has been segmented into direct roll coating,
direct coating, pad-dry-cure coating, hot melt extrusion coating, foamed &
crushed foam coating, calendar coating, and others.
On the
basis of end-user industry, the global textile coatings market has been segmented into
transportation, clothing, building & construction, healthcare, home
furnishing, and others (packaging, agricultural industry, geotextiles).
Regional
Analysis:
For an
exhaustive geographical assessment, the global textile coatings market has been
segmented into Asia Pacific, Europe, Latin America, North America, and the
Middle East & Africa (MEA). Asia Pacific is expected to hold the lion’s
share of the market in the years to come. Increasing applications across the
burgeoning industry verticals such as automotive, healthcare, construction,
etc. is expected to increase the revenue generation of the market participants
over the next few years in the region. In addition, the rising purchasing power
of the population is also projected to favorably influence the growth pace of
the textile coatings market in the years to come.
Europe and
North America are significant regional segments and are poised to contribute
substantially to the development of the global textile coatings market over the
next couple of years. The increasing demand for PU based textile coatings is
prognosticated to drive the proliferation of the market in the foreseeable
future.
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Competitive
Dashboard:
The
important players studied for presenting a detailed segmental analysis of the
global textile coatings market are Lubrizol Corporation (U.S.), Covestro AG
(Germany), Huntsman International LLC (U.S.), Clariant AG (Switzerland), Solvay
SA (Belgium), Formulated Polymer Products Ltd. (U.K), BASF SE (Germany),
Sumitomo Chemical Company (Japan), Omnova Solutions Inc. (U.S.), and Tanatex
B.V. (Netherlands).
Industry
News:
In May 2019,
Covestro AG, Bayer's materials science division, has presented sustainable
developments in Insqin technology designed for aqueous textile coatings and
water-based polyurethane dispersion at Techtextil 2019. These developments are
introduced for enabling biodegradable textile coatings.
In May 2019,
Archroma, a leader in specialty chemicals and sustainable solutions, has
announced the launch of a break-through water-based textile coating binder
named Appretan® NTR which is based on natural renewable ingredients.
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