Textile Coatings Market worth US$7.5 bn by 2024 | Consumption to cross 5,600 kilo tons
Global Market Insights, Inc. presents most up-to-date research report on “Textile Coatings Market with recent research (2016-2017) and the current scenario (2018) along with future market potential (2019-2024), Size, Share, Products, By Materials (Thermoplastics [Polyvinyl Chloride, Acrylic, Polyurethane], Thermosets [Natural Rubber, Styrene Butadiene Rubber]), Growth Potential, Trends Statistics, Regional Outlook (U.S, Canada, Germany, France, UK, Italy, Spain, Russia, Poland, Nordic Countries, Belgium, China, India, Japan, Australia, South Korea, Thailand, Vietnam, Malaysia, Brazil, Argentina, Mexico, Colombia, Saudi Arabia, UAE, South Africa, Turkey, Egypt)”.
The report predicts textile coatings market demand will surpass USD 7.5 billion by 2024. Increasing preference for advanced automotive interiors along with rise in demand for passenger vehicle will drive the textile coatings market growth. Rapid urbanization along with increasing government spending on infrastructure will also drive the market growth. Benefits including anti-abrasion, thermal insulation, self-cleaning and fire retardation will remain key factors fueling product demand.
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Advanced technology segment will witness growth over 4.5% through to 2024. Large scale production, ease in process and robust design are few key properties driving industry growth in segment.
Thermoplastic accounted for over 80% of the overall textile coatings demand in 2016. Air bags, automotive upholstery, and bulk bags are major contributing application. Benefits including durability, strength, and high resilience will facilitate market growth in this segment.
APAC textile coatings market share was over 50% 2016. Increase in spending on industrial, infrastructural and residential segment will positively influencing the product demand. The regional spending on construction was over USD 3.4 trillion in 2016, with China being the major contributor spent over USD 1.6 trillion.
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An insight into the contribution of textile coatings market players
Global textile coatings market share is highly fragmented in nature as there are number of regional manufacturers. The key industry participants include Omnova Solutions, Huntsman International, Solvay, Clariant AG, Covestro AG, BASF, Formulated Polymer Products, Sumitomo Chemical Company. Other notable players in terms of geographic presence and product range includes Textiles Coated International, Lubrizol Corporation, Nobletex, Sioen Coating, DSM, Tanatex Chemicals, Conversion Technologies International, National Coating Corporation, Vintex, Ajy Tech India, Arville and Reagent.
In a key breakthrough witnessed across textile coatings market, Umbra Applied Technologies Group (UATG), a new entrant in the textile industry, has planned to introduce a new product line – Hygieia that has been touted to be the future of smart textiles. Foraying into the smart textile sector is certain to help the firm expand its presence across the smart technology business space in addition to the textile coatings industry.
Another textile market giant – the Cordura Brand of Invista, has collaborated with DuPont Tate & Lyle Bio Products LLC to manufacture eco-friendly fabrics. The new durable fabric is likely to attract footwear, textile, and gear designers subject to the fact that the fabric constitutes high performing coatings and membranes. This collaboration is thus, likely to open new growth avenues for the prospective deal participants, in addition to bringing about a dynamic change in textile coatings market.
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Recently in June 2017, the nanotechnologists at Nanex – a privately held firm offering real time analysis and market data services, deployed nanotechnology to efficiently develop new waterproof coatings for textiles & leathers. Apparently, this new product helps the footwear and fabric manufacturers to produce water-resistant, durable, and self-cleaning products, devoid of materials that may harm the environment.
A recent research study unearthed by a group of European researchers depicts the use of graphene to coat textiles and make them conductive. Apparently, this has been perfected by converting thermoplastic monofilament fabric fibers into conducting ones through a graphene coat. This breakthrough is expected to open a new platform for creating integrated electronic equipment that can be directed into the fabrics. This coating technology is bound to bring about a transformative trend in textile coatings market in the near future, state experts.
Browse Related Report:
> Hydrophobic Coatings Market Growth Forecast, 2018 – 2024
Hydrophobic Coatings market size from automotive application is set to hit USD 2.25 billion in the forecasted timeline. Increasing preferences for waterproof Coatings in automobile along with technological novelties for implementing Nano-particles in hydrophobic Coatings due to their improved performance and high surface area should boost industry size.
https://www.gminsights.com/industry-analysis/hydrophobic-coatings-market
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https://www.gminsights.com/industry-analysis/plating-on-plastics-POP-market
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