LONDON, Nov. 16, 2016 /PRNewswire/ -- "Textile coatings market projected to reach USD 6.81 billion by 2021"
The textile coatings market size is projected to reach USD 6.81 billion by 2021, at a CAGR of 3.5%. Increasing quality & performance standards in end-use industries such as increasing fire safety regulations, increasing performance requirements, and increasing quality standards in apparels industry are driving the market. Along with these, factors such as the introduction of innovative products/technologies has opened new markets for textile coatings. The major restraints for textile coatings market are environmental concerns related to PVC type of textile coatings and threats from bio-based alternatives. PVC and isocyanates are considered harmful and toxic to the environment and human health. Most of the manufacturers in the developed countries have accepted polyurethanes as a potential replacement for PVC.
"Transportation–The largest end-use industry in terms of value and volume"
Transportation segment is estimated to be the largest end-use industry of textile coatings market that accounted for the maximum market size in 2015, both in terms of value and volume. This dominance is projected to continue due to the increasing demand of advanced automotive interiors and components and the growing need for superior and advanced vehicles. Properties such as superlative thermal resistance, enhanced tensile strength, lightweight, and fire, water, stain, and soil resistance will also contribute towards its growth in transportation.
"Asia-Pacific will account for the largest market size both in terms of value and volume"
Asia-Pacific is leading the textile coatings market. Growth in Asia-Pacific is led by the rising demand from transportation, building & construction, protective clothing, industrial, and medical applications due to increasing quality & performance standards in the region. Along with these factors, increasing industrial, manufacturing, and building & construction activities are also driving the APAC market for textile coatings.
Break-up of profiles by the primary participants for the report
- By Company Type: Tier 1 – 37%, Tier 2 – 50%, and Tier 3 – 13%
- By Designation: C Level – 50%, Director Level – 31%, and Others – 19%
- By Region: North America – 31%, Europe – 38%, Asia-Pacific – 25%, RoW – 6%
The textile coatings market is projected to register strong growth rate between 2016 and 2021. The companies profiled in this report include Covestro AG (Germany), Huntsman International LLC (U.S.), Solvay SA (Belgium), Clariant AG (Switzerland), BASF SE (Germany), Omnova Solutions Inc. (U.S.), Sumitomo Chemical Company (Japan), Lubrizol Corporation (U.S.), and Tanatex B.V. (Netherlands), among others.
The textile coatings market for this study is segmented on the basis of type and end-use industry. The type segment is further bifurcated into thermoplastics and thermosets. The end-use industry for this report includes transportation, building & construction, protective clothing, industrial, medical, and others such as sports, packaging, and agriculture.
Key benefits of buying the report
This research report focuses on various levels of analysis—industry analysis (industry trends), market share analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the textile coatings market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on textile coatings offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for textile coatings across regions
- Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the textile coatings market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading market players
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