The textile coatings market is projected to experience significant growth avenues in the upcoming years. This market growth is due to the advent of microencapsulation and nanotechnology in textiles. Further, increasing the application of textile coatings in different end-use coatings are likely to boost growth opportunities in the market. Protective clothing, medical devices, footwear and apparel, automotive, and building and construction are some of these end-use industries that are projected to generate expansion opportunities in the market.
The rising demand for superior quality and heat-resistant fabrics is likely to bring innumerable growth opportunities to the market. Further, there has been a significant increase in the demand for the textile coatings in automobile industry. These textile coatings are applied to the interior of the vehicles. Owing to this increasing demand, the market has been expected to increase at a significant rate during the forecast period.
On the other hand, the environmental concerns related to these coatings along with the increasing popularity of the bio-based alternatives have been predicted to curtail the desired expansion avenues in the textile coatings market.
As per the research report by Transparency Market Research, the textile coatings market has been estimated to reach a CAGR of 3.9% and gain a valuation of US$ 4,918.5 Mn. during the forecast period from 2017 to 2025.
Thermoplastic Based Raw Materials Anticipated to Boost Demand Opportunities With Efficient Functioning and Cost-Effectiveness
The textile coatings market has been bifurcated into thermoplastic and thermoset based on raw materials. The thermoplastics segment has been further divided into acrylics, polyvinylchloride, and polyurethane. The thermoset segment is also segmented into silicones, styrene butadiene rubber, and natural rubber. The Thermosets section is likely to hold a comparatively lower share than thermoplastics section around the world. This market dominance is on the back of cost-effectiveness and efficient functionalities of thermoplastic products. This factor is likely to fuel demand opportunities in the market in the upcoming years.
Full surface coating and dot coating are the two segments of the textile coatings market on the basis of technology. Since full surface coating commonly laminates the product from the textile industry, it is further estimated to drive growth opportunities in the market. On the other hand, dot coating technology has been used in different industries such as sports products, footwear, upholstery fabric, and medical hygiene.
On the basis of end-users, the textile coatings market has been divided into medical hygiene, footwear, geotextiles, upholstery fabric, and industrial clothing. Among these market segments, the upholstery fabric and industrial clothing have held a prominent share in the global market in the year 2016. Growth in quality, rise in the regulations for fire safety, and increasing performance requirements are estimated to drive growth opportunities in these segments in the forthcoming years.
Some of the key players operating in the textile coatings market are Tanatex B.V., Sumitomo Chemical Company, Omnova Solutions Inc., Lubrizol Corporation, The Dow Chemical Company, Clariant AG, BASF SE, Covestro AG, and Solvay SA.
Asia Pacific Region Estimated to Hold Leading Position in Terms of Market Growth
The global textile coatings market has been spread across different geographical locations across the world including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among these, the Europe and North America regions have been expected to contribute with a significant share in the market revenue. Further, the Asia Pacific region continues to serve with the increasing demand for textile coatings related to volume. The region has been projected to show a growth of 4.3% in the forthcoming years. The textile coatings market has been projected to experience significant growth in the Asia Pacific region because of the increasing standard of living along with the growing population.
Europe and North America come after the Asia Pacific region in terms of market growth. Further, the market has been anticipated to grow at a sluggish speed in the Latin America and Middle East & Africa region.
The global textile coatings market is divided into:
- Global Textile Coatings Market, by Raw Material Analysis
- Natural Rubber
- Styrene Butadiene Rubber
- Global Textile Coatings Market, by Technology Analysis
- Dot Coating Technology
- Full Surface Coating Technology
- Global Textile Coatings Market, by End-User Analysis
- Upholstery Fabric
- Industrial Clothing’s
- Medical Hygiene
- Global Textile Coatings Market, by Regional Analysis
- North America
- The U.S.
- The U.K
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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