Textile Coatings Market

Textile Coatings Market Size (2023-2028):

Textile Coatings Market was at USD 5.71 billion in 2022 and is foreseen to reach USD 7.24 billion by 2028, registering a CAGR of 4.1% between 2023 and 2028.

The textile coating is defined as the process of depositing a polymer resin onto a textile substrate on one or both sides. The textile coating produces a new structure that acquires the properties of the substrate and the coating product. In addition, it protects materials from various environmental factors such as heat, dust, soil, water, oil, and grease. Therefore, it increases the functionality and durability of the final product. It confers properties such as flame retardant, anti-abrasion, antibacterial, and thermal insulation and modifies the general appearance of the final product. However, PVC textile lining is considered toxic to both humans and the environment, which is why many manufacturers have adopted PU as a substitute for PVC.

Raising quality standards in developed economies and increasing purchasing power and lifestyle changes in developing countries are contributing to the growth of the garment industry. In addition, textile coatings are used to make automotive coatings for cars, buses, trains, trucks, and two-wheelers, and fabrics for airbags. Hence, Europe and Asia-Pacific, with a stronger automotive industry base, are expected to secure a stable revenue stream for the textile coatings market during the forecast period. Textile coatings are also used in billboards and signage, scaffolding nets, awnings and canopies, architectural membranes, conveyor belts, and safety vests for construction workers. Hence, it is likely to show strong demand from the construction industry across the world.

Textile coverings are also used in the furniture industry to make curtains, carpet coverings, sofa covers, and pillow and cushion covers. High expenditure on home furnishings in developed regions, increasing disposable income, and improving living standards in developing regions are supposed to create a huge home furnishings market in the coming years, which is expected to positively impact the global textile coatings market. Textile coatings find wide applications in the healthcare industry for manufacturing equipment for extracorporeal devices, implants, and medical gloves and are therefore expected to generate strong demand from the healthcare sector during the assessment period. Textile liners are also used in the agricultural industry for fencing, crop protection linings, bags, and shade materials. They also have applications in geotextiles for waterproofing soil in landfills.

Thermoplastics dominated the global textile coatings market. Due to various superior properties of thermoplastics, such as their lightweight nature, excellent insulating character (both electrical and thermal), etc., they are the most widely used coating material. PVC is an inexpensive polymer and offers resistivity against oil, solvents, and abrasion. In addition, they exhibit superior flame retardant properties and are therefore preferred as a suitable polymeric material in textile coating applications. Due to these properties, the application of thermoplastics is widely used in various end-user industries.

Textile Coatings Market Drivers

Textile coatings offer good chemical resistance, low thermal conductivity, thermal shock resistance, heat resistance, and unique electrical properties that make them very useful for various end-use industries, such as clothing industries, automotive, construction, petrochemicals, and food. In addition, the increasing use of fabrics, tapes, and sleeves in the aerospace, automotive, and petrochemical markets as heat shields, curtains, coatings, insulation, and blankets are further driving the growth of this market. Also, the growth of the medical sector also contributes to the growth of the global textile coatings business. In addition, the rising demand for geotextiles from the civil engineering sector has also contributed to the development of this market.

Textile Coatings Market Restraints

Growing environmental concerns over the adverse effects of polymers used in textile coatings may pose a challenge for market growth. The stringent environmental regulations of IPPC (Integrated Pollution Control and Prevention), ETS (Emissions Trading System) are likely to hamper the growth of the global textile coatings industry.

Opportunities in the Textile Coatings Market

Smart textiles are designed and developed to incorporate technologies that provide greater functionality to the user. The immense possibilities offered by the Internet of Things (IoT) and the growing need for connectivity from end-use industries, such as textiles, healthcare, defense, military, sports, and clothing, are the factors that drive the growth of the smart textile market. In today's scenario, smart textiles have already proven their value in medical, sports, and military applications where they control body weight, temperature, and external vibrations to improve an athlete's performance.

Challenges in the Textile Coatings Market

Various organizations such as the United States Environmental Protection Agency, California Air Resources Board, and others have established various regulations and policies to reduce the carbon footprint and VOC emissions of coatings. For example, the Technical Control Guidelines (CTG) developed by the EPA, set limits on VOC emissions from coatings for various industries, especially in areas that exceed certain lower levels of atmospheric ozone. Rising environmental concerns are resulting in stricter regulations limiting VOC emissions from coatings, which may hamper business growth.

TEXTILE COATINGS MARKET REPORT COVERAGE:

Textile Coatings Market Segmentation as per the research report until 2028.

Textile Coatings Market - By Resin Type

• Polyurethane
• Epoxy
• Acrylic
• Polyester
• Alkyd
• Fluoropolymer
• Vinyl
• Others

The acrylic segment holds the largest share of over 37% of the textile coatings market in 2020 as it is widely used in various applications including automotive, upholstery, tape, garment, and many other textile applications. In addition, acrylic resin offers excellent water resistance, color stability, and chemical resistance which makes it suitable for use on all types of textile substrates, including knitted, woven, and non-woven.

Textile Coatings Market - By Technology

• Solvent-Borne

• Water-Borne

• Powder Coating

• Others.

The water-based segment is expected to experience the highest CAGR of 7% in the textile coatings market during the outlook period. This growth is attributed to the growing demand for environmentally friendly coatings. Another common reason for choosing to use a water-based coating is environmental compliance.

Textile Coatings Market - By Process

• Direct Coatings

• Reverse Roll Textile Coating

• Immersion (Dip-Coating)

• Heat Lamination

• Transfer Coating

• Others

The direct textile coatings segment has the largest share of over 27% in the textile coatings market due to its easy process of converting polymer to liquid form on the textile surface.

Textile Coatings Market - By Application

• Agriculture

• Clothing

• Transportation

• Furnishings

• Building & Construction

• Medical

• Others

The transportation segment is foreseen to experience the highest CAGR of 6.8% in the global textile coatings market during the conjecture period. This growth is attributed to the growth of the aviation, automotive and rail sectors in emerging countries such as China and India. In addition, the increasing demand for flame retardant textiles from the transportation industry is likely to drive the growth of this market during the projection period.

Textile Coatings Market - By Region

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

 Growing demand from the construction industry, medical industry, furniture industry, and rising call for protective textiles are expected to drive the market in the Asia-Pacific region mainly in countries such as China, India and Japan. Textile coatings are common in cut-resistant materials, gloves, cleanroom clothing, high visibility clothing, fire, weather or NBC protective clothing, etc. The demand for clothing is increasing in countries like China, Japan, India etc. China has the world's largest construction industry. However, the industry's growth rate has become increasingly modest as the Chinese government seeks to shift towards a service-oriented economy. Also, with several large construction projects underway, China is likely to be the largest construction sector for the foreseeable future. The construction industry in Japan has experienced significant growth in recent years, due to major construction projects, such as the renovation of Tokyo in preparation for the 2020 Summer Olympics.

Impact of COVID-19 on the Textile Coatings Market:

According to the International Monetary Fund, global GDP is expected to decline by 0.4% in 2021. According to the World Trade Organization (WTO), global trade volumes are expected to decline between 14% and 33% in 2021 due to the economic impact of COVID-19. The pandemic is affecting the operations of various industries, such as automotive, oil and gas, construction, aerospace, and others. As textile coating products are widely used in these industries, the decline in operations of these industries has a direct impact on textiles coatings market growth.

Textile Coatings Market Key Players:

• Covestro AG (Germany)

• Lubrizol Corporation (U.S.)

• Huntsman International LLC (U.S.)

• Solvay SA (Belgium)

• Clariant AG (Switzerland)

• BASF SE (Germany)

• Omnova Solutions Inc. (U.S.)

• Sumitomo Chemical Company (Japan)

• Formulated Polymer Products Ltd. (U.K)

• Tanatex B.V. (Netherlands)