Albany, NY -- (SBWIRE) -- 07/23/2018 -- Global Textile Coatings Market: Snapshot
The demand in the global textile coatings market is projected for a CAGR of 3.9% during the forecast period of 2017 to 2025, gaining traction from the prosperity of a number of end-use industries such as building and construction, automotive, footwear and apparels, medical devices, and protective clothing. On the other hand, environmental concerns regarding these coatings and growing popularity of bio-based alternatives are hindering the desired prosperity of the textile coatings market.
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In the near future, vendors operating in this market are expected to gain new opportunities from the advent of nanotechnology and microencapsulation in textiles. The global textile coatings market is estimated to be worth US$4,918.5 mn by 2025, considerably up from its evaluated worth of US$3,406.0 mn in 2016.
Thermoplastic Based Raw Materials Widely Used
On the basis of raw materials, the global textile coatings market has been segmented into thermoplastic type based, which includes sub-segments of polyurethane, polyvinylchloride, and acrylics, and thermoset type based, with is further bifurcated into natural rubber, styrene butadiene rubber, and silicones. Thermosets segment held a lower share in the market in comparison to thermoplastics segment across the globe. Thermoplastic products are cheaper and efficient, therefore they have high demand in the market.
Technology-wise, the global textile coatings market has been segmented into dot coating and full surface coating. As full surface coating completely laminates the textile product the segment has higher demand in the market and is expected to rise at a higher CAGR in the forecast period. The technology is employed to coat products partially (in form of dots). Dot coating technology is employed in various industries such as medical hygiene, upholstery fabric, footwear, and sports products.
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As far as end-users are concerned, the report categorizes the global textile coatings market into industrial clothing, upholstery fabric, geotextiles, footwear, and medical hygiene. The first two end-use categories served the most prominent share of the demand in the global market for textile coatings in 2016. Growing demand for protective fabric in various industries is likely to boost the market for textile coatings.