Textile Coatings Market Analysis

Textile Coatings Market Analysis

Textile coatings market is dominated by thermoplastics, accounting for over 80% in 2016. High application scope in architectural product, large tents, water proof clothing and banners will propel the product penetration. High requirement of product in manufacturing automotive airbags, bulk bags and leathers is expected to drive the overall business demand.
 

Thermosets market will witness growth over 4% up to 2024. Natural, styrene butadiene, polyurethane and butyl rubbers are among the key thermosetting materials. Natural rubbers are widely used in rain wear, military suits, protective clothing and carpet backing. Rising demand for protective clothing from several end-use industries will propel industry growth.
 

Traditional coating will surpass USD 2.2 billion by 2024. Competitive price along with the low setup cost required are the key factors supporting the business growth. Low cost application requirement mainly in rain wear products to improve water repellent properties will propel the industry demand. Large consumption of energy is due requirement of ovens for better applicability of the coat may hamper the segment growth.
 

Advanced textile coatings are further segmented as plasma, magnetron sputtering and evaporation method. Advances techniques are among most widely used techniques with advantages over counterparts as robust design, large scale production and generation of anti-corrosion layer. Moreover, ALD techniques is widely used to create anti-microbial coating used in electrodes and medical applications.
 

Construction industry was over 450 kilo tons in 2016. High adoption of hoardings & signage for advertisement and promotion particularly in emerging countries has enhanced the product development. Shifting advertisement trends towards hoarding & signage is among the major factor boosting the textile coatings market. Moreover, increasing product usage for architectural membrane, canopies and scaffolding nets will drive the overall industry demand.
 

Home furnishing accounted over 12% of overall industry share in 2016. Strong product demand from carpet backing and sofa covers is expected to drive the overall industry growth. Increasing construction spending with rising trends for fabrics with easy washing and longer durability among residential and commercial usage will positively influence the product demand.
 

Transportation application comprises for manufacturing automotive upholstery, airbag fabrics and tarpaulins. Increasing regulations regarding driver’s safety along with advancement in technology for avoiding accidents is expected to drive the overall industry growth. Moreover, superior properties over normal fabric with enhanced properties is will support the product penetration.
 

Medical application is expected to witness robust growth over 4% by 2024. Abilities such as anti-microbial protection for extracorporeal devices and implantable & non-implantable devices required will support the product penetration during the forecast timeframe. Advancement in medical devices propel the textile coatings market.
 

Asia Pacific is among the dominant region accounting more than 50% of overall market share. Constant demand from construction, transportation and clothing application will support the overall textile coatings market growth. Increasing disposable income with favourable policies boosting the industrial development will positively influence the product penetration.
 

North America textile coatings market registered over USD 1.1 billion in 2016. Improvement in overall industry is expected to support the business growth. Stable raw material prices with stable energy pricing will propel the overall business growth. Increasing research and development spending among the industry players will propel the product penetration.
 

Europe textile coatings market is projected to witness growth over 4% up to 2024. Germany, UK, Italy and France are among the key revenue generating countries owing to recovering automotive industry.