ID: MRFR/CnM/4457-HCR | February 2021 | Region: Global | 100 pages
Textile Coatings Market Overview
Textile coatings market is expected to grow USD 8.6 bilion CAGR 4.30% during the forecast 2021-2030.
The textile coating is defined as the process of depositing a polymeric resin over a textile substrate on single or both sides. Textile coating produces a new structure, which acquires properties of the substrate and the coating product. Furthermore, it shields the materials from various environmental factors such as heat, dust, soil, water, oil, and grease. Therefore, it increases the functionality and durability of the final product. It imparts properties such as fire retardation, anti-abrasion, anti-bacterial, thermal insulation as well as modify the overall appearance of the final product. Various types of resins such as PVC, PU, polyester, acrylics, SBR, natural rubber, silicon, and fluoropolymers are used to coat the textile substrate in textile coatings to make a wide range of product for different applications. However, PVC textile coating is considered toxic for both human and the environment, and therefore many manufacturers have adopted PU as a replacement to PVC.
The growth of the clothing industry across the globe is expected to fuel the demand for the textile coatings during the forecast period. Rising quality standards in developed economies and growing purchasing power & lifestyle changes in developing countries are the factors contributing to the growth of the clothing industry. Additionally, textile coatings are used to make automotive upholstery for cars, bus, trains, trucks, and two-wheelers, and airbag fabrics. Thus, Europe and Asia Pacific with the strongest automotive industry base is expected to ensure the stable revenue source for the Textile Coatings Market during the forecast period. Textiles coatings are also used in hoardings & signage, scaffolding nets, canopies & awnings, architectural membranes, conveyor belts, safety vests for construction workers. Therefore, it is likely to show high demand from building & construction industry across the globe. Textile coatings are further used in home furnishing industry to make curtains, carpets backings, sofa covers, and pillow & cushion covers.
High revenue expenditure on home furnishing items in developed regions, rising disposable income, and improving standard of living in developing regions are expected to create huge home furnishing market in the coming years, expected to affect the Textile Coatings Market positively over the forecast period. Textile coatings finds wide applications in healthcare industry for manufacturing equipment’s such extracorporeal devices, implants, and medical gloves, thus expected to drive high demand from the healthcare sector during the assessment period. Textile coatings are further used in agricultural industry for fencing, coverings for crop protection, bags, and shading materials. Textile coatings also have applications in geotextiles for soil waterproofing in landfills.
Rising environmental concerns regarding the adverse effect of polymers used in textile coatings may pose a challenge to the market growth. Severe environmental regulations by IPPC (Integrated Pollution Prevention and Control), ETS (Emission Trading System) are projected to hamper the growth of the Textile Coatings Market.
Global Textile Coatings Market in 2019, by Type of Coating
Source: MRFR Analysis
The Textile Coatings Market is segmented based on the type of coating, a coating method, end-use industry, and region.
On the basis of the type of coating, the Textile Coatings Market is segmented into thermoplastics, thermosets, and others (silicon, fluoropolymers). Various types of thermoplastics are used as raw materials for textile coatings such as polyvinyl chloride (PVC), polyurethane (PU), acrylics, polyolefins and others. The types of thermosets used are styrene-butadiene rubber (SBR), natural rubber, and others (nitrile rubber, butyl rubber, and others)
On the basis of the coating method, the Textile Coatings Market is segmented into the direct coating, direct roll coating, pad-dry-cure coating, foamed & crushed foam coating, hot melt extrusion coating, calender coating, and other.
On the basis of the end-user industry, the Textile Coatings Market is segmented into clothing, transportation, building & construction, home furnishing, healthcare, and others (packaging, agricultural industry, geotextiles).
On the basis of the region, the Textile Coatings Market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Textile Coatings Market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the largest textile coating market in terms of market size due to growing home furnishing, construction, transportation, healthcare, agriculture, and packaging industry on account of relaxed investments norms, growing economy, rising disposable income of the middle-class population. North America and Europe are expected to show steady demand for PU based textile coating due to vast applications in clothing, healthcare, transportation, construction, home furnishing, and others. The Middle East & Africa is expected to show significant demand for textile coating from the construction, clothing, home furnishing sector due to the flourishing tourism industry. The Latin American market is expected to grow at a slow pace due to low overall development.
Some of the major players operating in the Textile Coatings Market are Covestro AG (Germany), Lubrizol Corporation (U.S.) Huntsman International LLC (U.S.), Solvay SA (Belgium), Clariant AG (Switzerland), BASF SE (Germany), Omnova Solutions Inc. (U.S.), Sumitomo Chemical Company (Japan), Formulated Polymer Products Ltd. (U.K), and Tanatex B.V. (Netherlands).
September 2021 – A prominent distributor of specialty chemicals and ingredients, IMCD N.V., announces that IMCD China has inked a contract to acquire Aquatech Speciality (Guangzhou) Trading Co., Ltd. (“Aquatech”) and Aquatech Speciality (Shanghai) International Trading Co., Ltd. in China.
Since the founding of the company in 2004, Aquatech has been operating in waterborne solutions in the coatings, textile, and ink industries. In 2020, the firm bagged over RMB 51 million (ca. EUR 6.7 million) and 10 employees got added to the IMCD China team. The company’s coatings business helps to improve IMCD Coatings & Construction Business Group’s portfolio in China region.
Managing Director of IMCD China, Andreas Igerl, said that Aquatech’s value creation philosophy is identical to IMCD’s strategy to be a strong sustainable coatings solutions partner to its suppliers and customers.
Peter Shek, the owner of Aquatech, said that the company is happy to join IMCD as a fraction of their global network. With their technical expertise and global connection and Aquatech’s local presence and capability, the company is confident about a bright future in the coatings industry.
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.
|Market Size||USD 8.6 billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type of Coating, Coating Method, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Covestro AG (Germany), Lubrizol Corporation (U.S.) Huntsman International LLC (U.S.), Solvay SA (Belgium), Clariant AG (Switzerland), BASF SE (Germany), Omnova Solutions Inc. (U.S.), Sumitomo Chemical Company (Japan), Formulated Polymer Products Ltd. (U.K), and Tanatex B.V. (Netherlands).|
|Key Market Opportunities||Rising environmental concerns regarding the adverse effect of polymers used in textile coatings|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Eminent players profiled in the textile coatings market include Tanatex B.V. (Netherlands), Formulated Polymer Products Ltd. (U.K), Sumitomo Chemical Company (Japan), Omnova Solutions Inc. (U.S.), BASF SE (Germany), Clariant AG (Switzerland), Solvay SA (Belgium), Huntsman International LLC (U.S.), Lubrizol Corporation (U.S.), and Covestro AG (Germany).
It has a wide application in heathcare, home furnishing, construction, transportation, and clothing.
The APAC region is predicted to lead the textile coatings market during the forecast period 2021-2030
Growing clothing industry, increasing purchasing power, and increasing use in agricultural and automotive industry are boosting the market growth.
Strict environmental regulations by IPPC and rising environmental concerns may hamper the market growth.