What is Textile Coatings Market?
The textile coating is described as the method of placing a polymeric resin over a textile substrate on single or both sides. The textile coating creates a new structure, which takes properties of the substrate and the coating outcome. Moreover, it shields the materials from numerous environmental factors such as heat, dust, soil, water, oil, and grease. Therefore, it improves the functionality and strength of the final output products. It presents properties such as fire retardation, anti-bacterial, thermal insulation as well as change the overall condition of the final product. Several types of resins such as PVC, acrylics, SBR, natural rubber, silicone, and others are used to coat the textile substrate in textile coatings to make a wide range of product for different applications. However, PVC textile coating is considered toxic for both human and the environment, and therefore many manufacturers have adopted PU as a replacement for PVC.
The market study is being classified, by Application (Transportation, Building & Construction, Protective Clothing, Industrial, Medical and Others) and major geographies with country level break-up.
BASF SE (Germany), Huntsman International LLC (United States), The Lubrizol Corporation(United States), Solvay S.A. (Belgium), Formulated Polymer Products Ltd (United Kingdom), Covestro AG (Germany), Omnova Solutions Inc. (United States), Clariant AG(Switzerland), Tanatex Chemicals B.V. (Netherlands) and Arkema Group (France) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sumitomo Chemical Company (Japan.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States and Germany Vendors will contribute to the maximum growth of Global Textile Coatings market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Textile Coatings market by Type, Application and Region.
On the basis of geography, the market of Textile Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Fire Safety Regulations
- Increasing Standards for Protective Clothing
Market Trend
- Increasing Demand for Geotextiles
Restraints
- Adverse effects on the environment
Opportunities
- The increasing interest of the construction industry, medical, clothing home furnishing industry, and increasing requirement for protective textiles is expected to drive the market in the Asia-Pacific region, primarily in countries, such as China, India, and Japan
Challenges
- Challenge from bio-based alternatives
In August 202 Muse Nanobots launched a nanotech coating for textiles that it claims can inactivate Coronavirus within five minutes of contact. Muse nanocoated textiles can offer enhanced protection for people to travel and will provide great safety to frontline healthcare, hospital, hotels and restaurant workers.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Textile Coatings Manufacturer, Government Regulatory and Research Organizations and End-Use Industry