The size of the Global Market was around USD 6.15 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 3.61 % to reach close to USD 7.34 Billion in the forecast, as mentioned earlier period.The Textile Coatings Market has a decent growth pace in the global market, which is driven by the demand for PVC type of coatings due to the vast usage of this segment in various industries. The Textile Coatings Market is expected to reach a total of USD 7.34 Billion with a 3.61 % CAGR.Akzo Nobel, a major North-East American company, has collaborated with Northumberland College to come up with an apprenticeship scheme to help on future manufacturing of their facility.
The global market is mainly driven by the demand for PVC type of coatings due to the extensive usage of this segment in various industries. Also, the rising demand in the construction & Buildings industry and the use of Textile Coatings in it helps in the growth of the Textile Coatings market.However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Textile Coatings Market Segmentation Analysis:
Based on the type of coating, the global market is segmented into PVC, PU, Acrylics, SBR, Natural Rubber. Among the mentioned types, the PVC segment is the largest and is expected to have the fastest growth rate in the proposed forecast period. The growth is mainly attributed to the demand for this segment in various industries for numerous applications.
By End-Use Industry
Based on the end-use industries, the global market is segmented into Transportation, Building & Construction, Protective Clothing, Industrial, Medical, Sports, Agriculture, and Packaging. Of the mentioned end-use industries, the buildings & construction segment is the largest and is expected to have the fastest growth rate in the proposed forecast period. The growth is mainly attributed to the rapid growth in the evolving industry and the constant need for textile coatings in it.
Textile Coatings Market Geographical Analysis:
By geography, the market is segmented as Europe, Asia Pacific, Latin America, North America, and Middle-East & Africa. The Asia Pacific region holds the largest share of the Global Market in the year of 2018, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the global market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period.North America is next in the lead of the Global Textile Coatings Market by both value and bulk, as of 2018. The situation of most of the key players in the global market in North America is the main reason for its market position. This region has the second-fastest growth rate on a global scale.Europe is next in the lead of the global market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Textile Coatings Market in this region. This region is the third fastest-growing region in the global market in the projected forecast period.
On the other hand, the Middle East & Africa and Latin America regions, being in the slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Textile Coatings Market Key Market Players:By the end of 2018 Akzo Nobel N. V. (Netherlands), Borealis AG (Austria), Exxon Mobil Corporation (U.S.), Dow Chemical Co. (U.S.), LyondellBasell (Netherlands), Bobst Group SA (Switzerland), and Mondi Plc. (Austria) Among others are the leading shareholders of the global market for Textile Coatings Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Textile Coatings Market Research Report Key Highlights:
Textile Coatings Market
Textile Coatings Market