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Textile Coatings Market Study by Segmentation and Key Driving Factors over 2019 to 2024
Textile Coatings Market
APAC Textile Coatings Market contributed to more than 50% of the overall market share in 2016 and is anticipated to witness a high product penetration over the coming years. This growth can be attributed to the construction developments being witnessed across countries such as India and China, which have been touted to be the key revenue contributors.
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A recently compiled research report claims that textile coatings industry is anticipated to generate a revenue of more than USD 7.5 billion by 2024. This comes as no surprise, given that the competitive landscape of this business comprises major players such as:
• Clariant AG
• Huntsman Corporation
• Covestro AG
• Royal DSM
• Sumitomo Chemical Company
• Solvay S.A.
• Lubrizol Corporation
With their praiseworthy contributions in place, it is no doubt that textile coatings market is predicted to carve out a favorable growth curve over the coming years.
The Elkem Company is reputed for manufacturing silicone textile coatings, which find wide applications in marines, sportswear, technical textiles, transport, leathers, and automotive. Their favorable product features such as UV & fire protection, mechanical stress, and thermal resistance have made them highly popular across various end-use sectors. It is undeniable that their high-end sales would have a modest impact on textile coatings industry share.
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Lubrizol Corporation, a key player across specialty chemicals industry, has declared the upgradation of its textile coatings unit in North Carolina across the U.S. The unit is focusing on extensive R& D of textile coatings technologies to formulate new coating methods for range of textile applications – a move which may have a sizable impact on textile coatings market size.
Today, manufacturers have been focusing on introducing eco-friendly coatings technologies that offer the dual benefits of carbon emission reduction and product cost-effectiveness. In yet another landmark event, Zimmer Austria has recently set new parameters for measuring the growth of textile coatings market through the introduction of new technologies such as Magnoroll coatings and digital printing systems.
Dow Corning has been offering advanced heat-curing silicon elastomer coating technologies as a part of its product portfolio, that find applications across industrial textile processing.
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Global Market Insights, Inc.
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