ALBANY, New York, November 1, 2018
ALBANY, New York, November 1, 2018 /PRNewswire/ --
The global textile coatings market is highly fragmented in nature owing to presence of numerous regional manufacturers. Players are spending hefty amount behind research and development in order to come with a more efficient and a better product which will help the player to outrun its competitors. The players are focused in improving its quality and to tune up its production rate to meet the rising demand all across the world. Players are increasing their product portfolio in order to attract more customers through the forecast period 2017- 2025.
Key players in the market are Omnova Solutions Inc., The Dow Chemical Company, Clariant AG, Sumitomo Chemical Company, and Huntsman International LLC.
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According to Transparency Market Research, the global textile coatings market is predicted to expand at a steady CAGR of 3.9% during the forecast period. The market which was valued at US$3406 mn in 2016 is expected to rise to US$4918.5 mn by the end of the tenure period. The global textiles coatings market on the basis of end users can be classified into upholstery fabric, industrial clothing, medical hygiene, footwear, and geotextiles. Of these upholstery fabric and industrial clothing holds a significant share and is anticipated to dominate in future owing to rising demand for protective fabric in different industries. Stringent rules and regulation pertaining to safety is expected to help the market grow. On the basis of geography, Asia Pacific is likely to provide lucrative growth opportunity owing to aggressive industrialization.
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Rising Demand for Home Style Things in Developing Countries Boosts Product Sales
Rising preference for enhanced automotive interiors coupled with increasing number of passenger vehicles all across the globe is predicted to favor the market growth. Rapid growth in the automotive sector due to rising urbanization and increase in disposable income throughout the world has compelled global textile coatings manufacturer to increase their production rate. Advancement in technology is likely to help the manufacturers to become more efficient and meet the rising demand. Rise in population, high demand for home style things, and fast urbanization particularly in developing countries are anticipated to fuel the demand of the market product. Important properties such as better opposition to soil, water, and oil are driving people to buy textile coatings. This is prognosticated to help the market grow.
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Growing Ecological Concerns to Distress Market
The market is faced by several restraints which are anticipated to pull down the market growth at a drastic rate. One of the major roadblock in the market is the rising ecological concerns. There are certain nations which have fostered the use of bio-based products, thus letting them hold significant share of global textile coatings market. However, the rising demand for thermoplastic based textile coatings due to various benefits associated to it is expected to stoke the growth of market. Textile coatings made of thermoplastic are known to be more durable, strong, and high resilient.
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The study presented here is based on a report by Transparency Market Research (TMR) titled, "Textile Coatings Market (Raw Material - Thermoplastics (Polyurethane, Polyvinylchloride, and Acrylics) and Thermosets (Natural Rubber, Styrene Butadiene Rubber, and Silicones); Technology - Dot Coating and Full Surface Coating; End-user - Geotextiles, Footwear, Upholstery Fabric, Medical Hygiene, and Industrial Clothing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
The market is segmented for detailed study in the following way:
Global Textile Coatings Market - Raw Material Analysis
Global Textile Coatings Market - Technology Analysis
Global Textile Coatings Market - End-user Analysis
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