The Global Textile Coatings Market size is forecast to reach around $6 billion by 2025, after growing at a CAGR of 4% during 2020-2025. The demand for Textile Coatings is growing due to its superior mechanical properties that meet today’s most demanding thermal, mechanical, and electrical performance requirements across various end-use industry applications. Besides, the growing apparel industry coupled with surging population, increasing demand for water, oil, solvent, and UV resistance textiles, and growing demand for Geotextiles are further driving the growth of Textile Coatings market size during the forecast period.
Global Textile Coatings Market Segment Analysis – By Resin Type
The Acrylic segment holds the largest share of more than 35% in the Textile Coatings market in 2019 due to widely used in the various applications include automotive, upholstery, tape, apparel and numerous other textile applications. Furthermore, acrylic resin provides excellent water resistance, color stability, and chemical resistance that makes it suitable to use in textile substrate type including knits, woven, and non-woven and also in diverse textile-consuming industries such as apparel, upholstery, household furnishings, transportation, protective, technical, and others.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16478
Report Price: $ 4500 (Single User License)
Global Textile Coatings Market Segment Analysis – By Technology
The water-borne segment is projected to witness the highest CAGR of 6% in the textile coatings market during the forecast period. This growth is attributed to the growing demand for environment friendly coatings. Environmental compliance is another common reason for choosing to use a water-based coating. National, state and local governments often regulate VOCs by limiting how much businesses are allowed to emit in a given timespan. The EPA sets national rules for VOCs, but some states have tightened restrictions even further, necessitating concerted efforts to limit their emission. Waterborne based polyurethane dispersion provides waterproof and breathable coating for outdoor textiles like jackets, shoes, caps, gloves, backpacks and other items. Whereas, surging demand for outdoor textiles that have less impact on the environment further augments the market growth.
Global Textile Coatings Market Segment Analysis – By Process
The direct textile coating segment hold the largest share of more than 25% in the Textile Coatings market during the forecast period due to its readily conversion process of polymer in liquid form over the textile surface. Furthermore, growing uses of this process for making protective clothing, tarpaulins for trucks, floor coverings, and airbags products is also driving the growth of this segment.
Global Textile Coatings Market Segment Analysis – By Application
The transportation segment is projected to witness the highest CAGR of 6.5% in the global Textile Coatings market during the forecast period. This growth is attributed to the growing aviation, automotive, and railway sector in the emerging countries like China and India. Additionally, growing demand for flame retardant textiles from transportation sector is likely to drive the growth of this market during the forecast period. Whereas, the growing demand for eco-friendly, light weight, advanced reinforcement, and to provide comfort and durability textiles from transportation industry is also drive the market growth.
Global Textile Coatings Market Segment Analysis – Geography
Among the regions, the APAC holds the largest share of more than 40% in the global Textile Coatings market followed by North America and Europe during the forecast period. Growing uses of protective textiles across construction, medical, petroleum, and chemical industry in the region is expected to drive the market, primarily in countries like China, India, and Japan. Increasing demand for advanced automotive interiors and need for superior vehicles is also contributed to the market growth in APAC region. Furthermore, the growing consumer and e-commerce sectors is also contributing for the growth of Textile Coatings market share across the APAC region. Whereas, growing transportation sector, changing lifestyle, and rise in disposables income also propels the growth of this market in APAC region.
Global Textile Coatings Market Drivers
Surging demand across various end-use industries
Textile Coatings offer good chemical resistance, low thermal conductivity, thermal shock resistance, resistance to heat, and unique electrical properties that makes it extensively useful for various end-use industry such as automotive, construction, petrochemical, and food industry. With the increasing rate of industrialization, the number of manufacturing procedures and policy has increased by many proportions, as a result of which personal protective equipment companies are focusing on developing specific protective wear with a view to ensuring maximum worker’s health. Moreover, the growing uses of fabrics, tapes, and sleeving in the aerospace, automotive, and petrochemical markets as heat shields, curtains, linings, insulation, and blankets further drives the growth of this market. Furthermore, the growth in the medical sector is also contributing to the growth of the global Textile Coatings market during the forecast period. Moreover, growing demand for geotextiles from civil engineering sector also contributed to the market growth. As, Geotextile delivers several properties such as separation, filtration, reinforcement, drainage and protection.
Developing textile industry in India
The textiles industry has made a major contribution to the national economy in terms of net foreign exchange earnings and contribution to the GDP. In India, Exports of textiles increased by 3% and reached to USD 41.67 billion in 2014-15. Whereas, Textiles exports from India will reach to $ 185 billion by 2024-25. The major factods driving the growth of the textile industry in India are the availability of low cost and skilled manpower, availability of large varieties of cotton fiber, emerging retail industry and malls, fast growing synthetic fiber industry, and growing focus towards branded readymade garments. Moreover, the Government of India (GoI) has started promotion of its ‘India Handloom’ on social media such as Facebook, Twitter, and Instagram to connect with customers, especially youth, in order to promote high quality handloom products under ‘India Handloom Brand’. Additionally, The Ministry of Textiles also launched Technology Mission on Technical Textiles (TMTT). Thus, the growth of textile industry also drives the growth of textile coatings market.
Growing demand for smart textiles
Smart textiles are designed and developed to incorporate technologies that provide increased functionality to the wearer. Immense possibilities with the Internet of Things (IoT) and increasing demand for connectivity from end use industries such as textile, health care, defense, military, sports, and clothing are the factors driving the growth of the smart textile market. In the present scenario, smart textiles have already proven their worth across medical, sports, and military applications wherein they control body weight, temperature, and external vibrations to improve the performance of a sportsperson. On top of that, the growing need for supportive and performance-enhancing garments has led to the introduction of smart textiles in the military sector. Inclination of the military in this market can be determined by the fact that U.S Air Force is all set to invest $237 million on the uniforms, which is scheduled to be complete by April 2021. Additionally, in Many 2019, Trelleborg’s debuted an engineered smart textile Dartex® Endurance polyurethane coating fabrics operation for or the healthcare and medical industry at its booth at Techtextil in Frankfurt, Germany. Thus, the growing new innovations in the textile industry and surging demand for smart textiles further propels the growth of this market during the forecast period
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16478
Global Textile Coatings Market Challenges
Stringent regulations to reduce carbon footprint and VOC emissions
Several organizations such as the United States Environmental Protection Agency, the California Air Resources Board, and others have set various regulations and policies to reduce carbon footprint and VOC emissions from coatings. For instance, the control technique guidelines (CTGs) developed by EPA, which set limits on VOC emissions from coatings for various industries, particularly in areas that exceed certain levels of lower atmospheric ozone. In January 2018, the EU published the German version of DIN EN 16516, a test standard that uniformly regulates the emission measurement of construction products including coatings. In Canada, regulations such as Volatile Organic Compound (VOC) Concentration Limits for Architectural Coatings Regulations (SOR/2009-264) and Volatile Organic Compound (VOC) Concentration Limits for Certain Products Regulations, has set limits on VOC emission from coatings. In addition, in the eastern United States, the Ozone Transport Committee (OTC) makes environmental policy for thirteen states on limiting VOC emission from coatings, including New England, New York, Pennsylvania, Delaware, New Jersey Maryland and the Washington D.C. Growing environmental concern is resulting in more stringent regulations limiting VOC emission from coatings, which is may hinder market growth.
The emergence of COVID-19 pandemic
The emergence of COVID-19, which is declared a pandemic by the World Health Organisation, is having a noticeable impact on global economic growth. According to International Monetary Fund, the global GDP is expected to decline by 0.3% in 2020. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. The pandemic is affecting operations of various industries such as automotive, oil and gas, construction, aerospace, and others, as most of countries have issued “stay at home guidance” i.e., lockdown. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. As textile coatings products are extensively used in these industries, the declining operations of these industries is directly affecting textile coatings market growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Textile Coatings market report. In 2019, the market of Textile Coatings top 10 companies accounting for xx% of the share. Major players in the Textile Coatings industry outlook are BASF SE, Omnova Solutions Inc., Sumitomo Chemical Company, Covestro AG, Huntsman International LLC, Solvay SA, Clariant AG, Archroma, Lubrizol Corporation, and Tanatex B.V., among others.
Acquisitions/Technology Launches
In 2019, Archroma, introduced its new Lurapret® N5396 & N5392 liq, a water-based ultra-low VOC polyurethane (PU) polymer coating technology. The water-based delivers high performance to the coated fabrics for indoor and outdoor textiles, nonwovens, and papers.
In May 2015, BASF SE was opened high performance Ultramid brand in China. The Ultramid used across film, textile, carpet fiber, and engineering plastics.
Key Takeaways
In North America region, the U.S. hold the largest share and is projected to witness a significant growth over the forecast period due to growing uses of textiles from healthcare and automotive sector.
With the growing demand for safer and more ecological products, water-based polyurethane (PU) coatings are progressively prevailing as the preferred coating technology.
The volatile crude oil prices, unstable economy, and stringent environment norms are hampering the growth of Textile Coatings market share during the forecast period.
The outbreak of COVID-19 is also considered as the major restraining factor to the market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and world economy. Besides, Industries are being shuttered all around the globe due to lockdown. Hence, demand is declining from various industry verticals acts as a restraining factor to the market growth.
Related Reports :
A. Textile Chemicals Market
https://www.industryarc.com/Report/11686/textile-chemicals-market.html
B. Geotextile Market
https://www.industryarc.com/Report/15170/geotextile-market.html
For more Chemicals and Materials Market reports,Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
CONTACT INFORMATION
IndustryARC
Venkat Reddy
+19702363677
Contact Publisher
COMPANY PRESS RELEASE
Medical Adhesive Tapes Market Size To Grow At A Cagr Of 6.5% During The Forecast Period 2021-2026
Healthcare/medical Simulation Market Size Estimated To Reach $3,700 Million By 2026
Shotcrete Accelerator Market Size Forecast To Reach $1.3 Billion By 2026
Indian Basalt Fiber Market Size Forecast To Reach $30.4 Million By 2026
Massive Iot Market Forecast To Reach $121.4 Billion By 2026
Antibodies Market Size Forecast To Reach $247.8 Billion By 2026
Photocatalyst Market Size Expected To Reach $4.6 Billion By 2026
View All