Textile Coatings Market is anticipated to witness a massive proliferation 2024
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Textile coatings find myriad applications in the production of hygiene textiles, sports clothing, protective clothing, and barrier textile. Silicone based elastomeric coatings are extensively used to coat nylon fabrics, industrial textiles, fiberglass, and polyester clothes. Today, silicone based coatings have found widespread applications in textiles with their ability to offer protection against ultraviolet radiations, heat, mechanical stress, and fire. With their high insulating features, the products have become highly popular across welding blankets, insulation panels, and personal protective equipment (PPE) market, creating a massive spectrum of avenues for textile coatings market.
The competitive hierarchy of textile coatings industry is remnant of renowned biggies such as:
• Clariant AG
• Huntsman International LLC
• Covestro AG
• Omnova Solutions Incorporation
• Royal DSM AG
• BASF SE
• Lubrizol Corporation
It would be prudent to mention that the aforementioned firms are expected to make notable contributions toward market in the forthcoming years and beyond, that would substantially impel the business landscape. Endowed with widespread application and technology spectrums, textile coatings market size is expected to be pegged at USD 7.5 billion by 2024.
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Covestro’s recent product launch demonstrates the company’s immense contribution toward textile coatings industry. Elaborating further, Covestro recently introduced a new kind of polyurethane raw material dubbed Baymedix®, that finds applications in wound dressing and healing processes. Deploying textile coatings to manufacture medical furniture coatings, bandages, surgical wear, and hospital bed linen has always remained at the center stage of the firm’s material development plans, the Baymedix launch being a pivotal instance of the same. Covestro had recently demonstrated the application of Baymedix® across waterborne textile coatings and non-latex cohesive bandages at the INDEXTM 17 trade fair held in Geneva in April 2017. Experts state that having witnessed the product’s exceptional performance, other companies are likely to follow suit and bring about innovations in their product line, which would undeniably propel textile coatings market size in the years ahead.
A recent research study unearthed by a group of European researchers depicts the use of graphene to coat textiles and make them conductive. Apparently, this has been perfected by converting thermoplastic monofilament fabric fibers into conducting ones through a graphene coat. This breakthrough is expected to open a new platform for creating integrated electronic equipment that can be directed into the fabrics. This coating technology is bound to bring about a transformative trend in textile coatings market in the near future, state experts.
U.S. textile coatings market, on the other hand, is expected to be driven essentially by product innovations. The region has been depicting prominent growth in the clothing and home furnishings sectors, which would subsequently impel the profitability landscape of U.S. textile coatings market, slated to grow at a CAGR of 4.5% over 2017-2024.
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