Textile Coatings Market Size

Textile Coatings Market Size

Global Textile Coatings Market size was worth over USD 5.1 billion in 2016 and will surpass 5,600 kilo tons by 2024. 

Potential outlook in construction, home furnishing, clothing, and medical industry will drive the textile coatings market size. Shifting consumer preference towards advanced products due to its benefits including fire retardation, anti-abrasion, anti-bacteria, self-cleaning and thermal insulation will fuel product scope.  Rising product demand from construction industry particularly in China, India, Brazil and Southeast Asia will propel the textile coatings market. Global construction spending was over USD 4.5 trillion in 2016 and is estimated to reach USD 8 trillion by 2024.

Expansion in global automotive industry coupled with inclination towards passenger cars will support the product demand. The global automobile sales were over 89 million units in 2015, which grew up to more than 93 million units in 2016.  Commercial vehicles and passenger cars are widely used and have witnessed an increase in sales since past few years.

Superior resistance to grease, heat, soil and water, along with scratch resistance are the key properties enhancing the product demand. Increasing investment on research and development to innovate fibre technologies, enhance moisture content, and repel water & heat to provide comfort will drive the demand.

Textile coatings requires polyvinyl chloride, acrylic and polyurethane as raw material, higher demand of the material owing to various applications will affect the price trend. Competitive pricing owing to increasing production capacity particularly in emerging countries may further affect the price of the product.