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 size 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).
Market Scenario
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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