Textile coatings is a process of applying a resin over a textile substrate, on one or two sides. This process not only augment textile’s value but also extends the range of functional performance properties such as fire resistance, waterproofing, among others.
Improving textile quality and performance standards of the textile or fabrics are major growth drivers propels the global textile coating market growth. Increasing performance of the textile according to their end use such as life protecting cloths, augmenting artistic and aesthetic performance fabrics which are further used in construction industry.
Textile coatings market is expected to witness high growth during forecast period 2019-2026.
Asia Pacific is gaining major traction in global textile coating market owing to the growing commercial infrastructure development such as hospitals, business complexes, hotel and restaurants. As canopies and awnings are extensively used in development of commercial infrastructure for most common shading such as car parking shade and also protects indoor furnishings.
North America is forecasted to lead global textile coatings market due to growing transportation industry. Air bags fabrics are extensively and mandatorily deployed in the automotive vehicles. For instance, according to the American trucking Associations, in road transportation, trucking transportation was valued at USD 676.2 billion in 2016.
Building and construction segment is expected to register highest growth during forecast period on account of increasing use of hording and signage for marketing activities. Hoardings play a vital role for promoting company offerings drawing interest to an exciting new development site. For instance, according to Invest India (regulated by government of India), the construction industry in India is expected to grow at 5.6% during 2016-2020. According to the same source India is expected to require USD 454.8 billion on infrastructure development over the period of five years (2015-2020).
Protective clothing is predicted to lead global textile coatings market owing to major emphasis on workers safety in industries, provision of safer working environment and necessary cloths & safety equipment obligatory terms according to regulations. Safety equipment and protective cloths not only reduce life risk but also lowers monetary losses. For instance, according to International Labour Organization, 2.02 million workers die each year due to operational accidents and it is mandatory to compensate workers in terms of money and other.
Textile Coatings Market Segmentation
By End-use Industry