New York, USA, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global textile coatings market size is predicted to grow from USD 4,434.78 million in 2023 to USD 6,405.53 million by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What are Textile Coatings?
Textile coatings are one of the several kinds of chemical coating and are administered to a substance with the intention of altering and improving its attributes and properties. Textile coatings provide pronounced ingenuity, can convey a gamut of varied outcomes, both operational and attractive, and are utilized in covering several industries, from aerospace and automotive to external wear and geotextiles. Textile coating techniques and technology have progressed and variegated a great deal over the last several decades as the utilization of technical textile substances has escalated. The techniques are growingly taking into account the influence on the ambiance, and eco-friendliness and productivity are two crucial advantages of textile coatings.
The textile coatings market is witnessing substantial demand owing to urban augmentation that fuels the demand for coated textiles in construction, architectural cloths, and exterior applications. Industrialization speeds up growth in sectors such as healthcare, automotive, and aerospace, where coated textiles are important for specific operations. These coatings provide attributes such as water aversion, longevity, UV protection and encountering strict industry needs. Further, the growing concentration on renewability pushes the demand for green coatings emanating from renewable substances.
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Textile Coatings Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 4434.78 million |
| Market value in 2032 | USD 6405.53 million |
| CAGR | 4.2% from 2024-2032 |
| Base Year | 2023 |
| Historical Data | 2019-2022 |
| Forecast Period | 2024-2032 |
Key Highlights of the Report:
- The firms functioning in the market are initiating contemporary commodities to augment market reach and reinforce existence is driving the market for textile coatings.
- The market is primarily segmented based on type, end-use, and region.
- Asia Pacific dominated the market with the largest textile coatings market share.
Textile Coatings Market Key Players:
- Arkema
- BASF SE
- Clariant AG
- Covestro AG
- DOW Chemical Company
- DSM
- Evonik Industries AG
- Formulated Polymers
- Huntsman Corporation
- Lubrizol Corporation
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Top Market Developments:
Growth Drivers and Trends:
- Inventions in Coating Technologies: Inventions in coating technologies are pushing the market trend, with makers repeatedly advancing progressive expressions. These inventions involve green coatings and those with improved longevity, flexibility, and breathability. Nanocoatings acknowledged for their water and stain aversion while sustaining breathability are acquiring eminence.
- Growing Demand for Performance Fabric: The market share is pushed by growing demand for performance fabrics. These specific textiles are engineered to encounter manifold operational requirements such as longevity, and water resistance detects applications covering clothing and automotive. Textile clothing is helpful in improving fabric performance, offering attributes such as waterproofing and flame resistance, supporting the textile coatings market growth.
- Growing Usage in Automotive: The coatings detect substantial applications in construction, automotive, sports apparel, and healthcare sectors. In automotive, they improve fabric longevity and elegance, while in construction, they offer waterproofing and fire resistance.
Challenges:
- Environmental Directives: Environmental directives are growingly impeding the market. Authorities globally are administering strict instructions to restrict detrimental chemicals such as eruptive organic compounds and heavy metals in coating expressions. This requires makers to reformulate commodities, escalating production prices and influencing performance.
Which Region Leads the Textile Coatings Sector?
- Asia Pacific: The Asia Pacific region dominated the textile coatings industry with the largest revenue share. The region's dominance in the market can be attributed to an extensive and growing population, and the growing disposable income has caused a rise in demand for textiles and coated commodities. Cheap-making benefits, involving lesser labor prices and an approach to raw materials, render the region alluring for textile production.
- North America: North America is anticipated to witness the fastest growth in the textile coatings market over the estimated period. This is due to the technological progressions that have caused the advancement of effective coatings for several applications industries such as healthcare, automotive, protective clothing, and home fittings.
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Segmental Overview:
By Type Outlook:
- Thermoset
- Styrene-butadiene Rubber
- Natural Rubber
- Others
- Thermoplastic
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Acrylic
- Others
By End Use Outlook:
- Medical
- Transportation
- Industrial
- Building and Construction
- Protective Clothing
- Others
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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