Global Textile Coatings Market Analysis of Top Players, Share, Growth and Forecasts – 2023

Textile Coatings Market
Textile Coatings Market has average CAGR forecast period 2017-2023, Textile Coatings Market Categorizes the Global Market by Industry, Service, Application and Region| Textile Coatings Industry

Market Scenario

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 textile coating is a resin coating applied to a textile substrate to improve its overall characteristics. Textile coating market is expected to witness lucrative growth during the forecast period due to vast applications in various end-use industries such as clothing, transportation, construction & building, home furnishing, healthcare, packaging, agriculture, and geotextiles.

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Market Segmentation

The global textile coatings market is segmented by type of coating, coating method, end-use industry, and region.

On the basis of the type of coating, the global textile coatings market is segmented into thermoplastics, thermosets, and others (silicon, fluoropolymers). Various types of thermoplastics are used as raw materials for the synthesis of 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). The PU held the highest share of the global market in 2017 due to its eco-friendly nature and widespread applications in clothing, home furnishing, and construction & building.

On the basis of the coating method, the global 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. The direct coating is the most commonly used due to low investment cost and easy application.

On the basis of the end-user industry, the global textile coatings market is segmented into clothing, transportation, building & construction, home furnishing, healthcare, and others (packaging, agricultural industry, geotextiles). The clothing industry is one of the largest markets for textile coating due to rising quality standards in developed economies and growing purchasing power & changing lifestyle in developing countries.

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Regional Analysis

The global textile coatings market is spanned across 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 followed by North America and Europe, which is further trailed by the Middle East & Africa and Latin America.

Competitive Analysis

Some of the key players in the global 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).

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