Textile Coatings Market Estimated to Reach US$ 4.92 Bn by 2025

According to the report, the global textile coatings market was valued at US$ 3,406.0 Mn in 2016 and is anticipated to reach US$ 4,918.5 Mn by 2025, expanding at a CAGR of 3.9% between 2017 and 2025.

Textile coatings are coatings that are used to coat various textiles, fabrics and yarns to protect them from heat, dust, soil, Water, oil, grease, etc. The coating shields the textiles and yarns from any sort of damage and helps keeping it durable. Due to rise in quality and performance standards from end-user industries and improvement in living standard in developing countries the demand for textile coatings is observed to be boosting across the globe. Rise in demand for textile coatings in protective clothing, building & construction, transportation, medical, and industrial applications is driving the textile coatings market. Introduction of new innovative technologies or products is projected to open up new markets for textile coatings. Market players are striving to impart anti-bacterial and self-healing properties to textile coatings.

The textile coatings market are basically segmented into raw material type, technology type and end-user type. Based on raw material type, the market is segmented into thermoplastics and thermosets. Thermoplastics segment is further bifurcated into polyurethane, Polyvinylchloride, acrylics and others. Thermosets segment is bifurcated into Natural Rubber, styrene butadiene rubber, silicones and others. Polyurethane and polyvinylchloride held major share of textile coatings market in 2016 across the globe. As polyvinylchloride are cheaper and efficient the product has high demand in the market, however due to its toxic nature the demand has decreased in last few years. Polyvinylchloride is restricted in Europe and North America region.

Based on technology type textile coatings market is segmented into dot coating technology and full surface coating technology. Full surface coating technology held a major share of textile coatings market across the globe in 2016, as the technology completely laminates the product. Dot coating technology coats the product partially (in form of dots). It does not fully coats the product. The technology is employed in various industries such as medical hygiene, upholstery fabric, footwear, and sports products, where partial coat is required.

In terms of end-users, upholstery fabric and industrial clothing segment held major share of textile coatings market in 2016 across the globe. Urbanization, leading to industrial development across the globe is estimated to be a key reason for a prominent share of the segments. Under the industrial clothing segment, textile coatings are employed to coat various types of clothes, ranging from fashion to uniforms, e-textiles, and work wears. The medical hygiene segment is anticipated to expand at a consistent growth rate during the forecast period; however, the share of the segment is anticipated to remain steady by 2025. In the medical hygiene segment, textile coating is used to provide an antimicrobial coating for medical bandages.

Asia Pacific region held major share of textile coatings market across the globe in 2016, in terms of region. The share of the product in the region is anticipated to rise at a faster CAGR between 2017 and 2025, due to rising population, increasing demand for new housings, and rising middle class income in the region. China held a major share of the textile coatings market in Asia Pacific. Demand for textile coatings has been increasing in China and India, which is estimated to boost the market in the region. North America and Europe held share of 28.6% and 22.4%, respectively in 2016, in the textile coatings market across the globe.

Major players operating in the global textile coatings market are Covestro AG, The Dow Chemical Company, BASF SE, Clariant AG, and Huntsman International LLC.