(EMAILWIRE.COM, December 16, 2024 ) The report “Textile coatings Market by Type (Thermoplastic, Thermoset), End-use Industry (Transportation, Building & Construction, Protective Clothing, Industrial, Medical), and Region (North America, Europe, APAC, South America, MEA) – Global Forecast to 2028. The Textile coatings market is estimated to grow from USD 4.4 billion in 2023 to USD 5.4 billion by 2028, at a CAGR of 4.6%.
Browse in-depth TOC on “Textile coatings Market
296- Market Data Tables
54 – Figures
268 – Pages
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Based on type, the textile coatings market is segmented as thermoplastic, thermoset, and other types. Thermoplastic stands out as the largest segment in terms of value, globally. The dominance of thermoplastic segment in the textile coatings market has been largely fueled by the flexibility of thermoplastic coatings and their ability to cater to diverse end-use needs. Furthermore, the thermoplastic segment is forecasted to exhibit the second highest CAGR in terms of value during the forecast year 2023 and 2028.
Based on end-use industry, the textile coatings market has been categorized into various segments including transportation, building & construction, protective clothing, industrial, medical, and other end-use industries. Notably, the transportation segment emerged as the market leader in 2022 and is anticipated to maintain its dominant position through 2028. The factors such as changing consumer preferences, sustainability imperatives, regulatory dynamics, and technological advancements in coating technologies, and environmental friendliness have contributed to the transportation industry’s leadership in the textile coatings market. Furthermore, the building & construction segment is forecasted to exhibit the second highest CAGR in terms of value during the forecast year 2023 and 2028.
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Based on region, the textile coatings market has been categorized into five regions including North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific stands out as the largest market for textile coatings. Asia Pacific’s dominance in the textile coatings market has been largely driven by technological innovation. The region is home to research and development centres as well as a bustling startup and innovation community that is concentrated on sustainable solutions. The market for textile coatings grew due to the growth in construction activities and the ease of recyclability of used textile coatings materials, leading to a substantial expansion of the textile coatings market in the Asia Pacific.
Textile coatings Market Key Players
The textile coatings market key players are Covestro AG (Germany), Solvay SA (Belgium), BASF SE (Germany), Sumitomo Chemical Co., Ltd. (Japan), The Lubrizol Corporation (US), Clariant AG (Switzerland), TANATEX Chemicals B.V. (Netherlands), Huntsman International LLC (US), OMNOVA North America Inc. (US), Formulated Polymer Products Ltd. (UK), Arkema SA (France). They have implemented strategies such as new product launches and acquisitions to enhance their competitors.
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