Textile Coatings Market Analysis, Market Size, Competitive Strategies, Forecasts to 2026, and Key Vendors :Covestro AG (Germany), Huntsman International LLC (U.S.), Clariant AG (Switzerland)
Market Synopsis:
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 2017 to 2023. 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.
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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).
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.
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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.
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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