Textile Coatings Global Market Report 2024

The global textile coatings market has grown strongly in recent years. It will grow from $6.04 billion in 2023 to $6.40 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed in the historical period can be attributed to several factors, including the demand emanating from the apparel industry, consumer preferences shifting towards performance textiles, the expansion of the sportswear industry, a growing focus on sustainable textile practices, the enforcement of stringent regulations, and increased consumer awareness regarding health and safety aspects related to textiles. These factors collectively contributed to the growth and development of the textile coating industry during that time.

The global textile coatings market is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. Anticipated growth in the forecast period is expected to stem from various factors, including the increased demand for smart textiles, customization options in textile coatings, expansion of the home textiles market, a focus on sustainable and eco-friendly practices through green chemistry, rising demand for high-performance outdoor textiles, and the influence of fast-fashion trends. Major trends anticipated in the forecast period encompass the expanded use of technical textiles in construction applications, advancements in nanotechnology influencing textile coatings, the evolution of digital printing and coating technologies, emphasis on specialized coatings for technical textiles, and increased collaborations in research and development efforts within the textile industry.

The textile coating market is poised for growth, driven by the expanding clothing industry. The clothing sector encompasses the production of textile-based garments and apparel. Textile coatings play a crucial role by providing material layers that adhere to textile structures. Common formulations include polymeric binders and various additives applied to textile fabrics through spreading processes like solutions, dispersions, pastes, or similar methods. In 2021, the value-added output of U.S. textile manufacturing reached $16.59 billion, and by May 2023, textile and apparel exports in the U.S. rose to $34 billion from $28.4 billion in 2021. This upward trend underscores the significant impact of the growing clothing industry on driving the textile coating market forward.

Anticipated growth in the construction industry is expected to be a key driver for the textile coatings market. The construction industry encompasses a range of tasks involved in building structures and infrastructure. Textile coatings find applications in construction materials such as membranes, awnings, and roofing, providing waterproofing and protection against environmental elements. In 2021, the Fails Management Institute reported an 18% growth in multi-family residential construction spending activities in the U.S., amounting to $111 billion. Globally, this figure is projected to increase to $136 billion by 2025. This surge in construction industry demand underscores the pivotal role of textile coatings in addressing waterproofing needs and safeguarding structures.

Leading companies in the textile coatings market are concentrating on product innovation to enhance customer offerings. One such innovation is G-Heatex, a line of graphene-coated textiles designed to deliver reliable performance. Introduced in November 2021 by Grafren AB, a Swedish nanotechnology company, G-Heatex features conductive fabric made from fibers coated with the thinnest flakes of graphene. This product's applications span across various industries, including military, aerospace, healthcare, mobility, and automotive, showcasing the versatility and adaptability of innovative textile coatings like G-Heatex.

Prominent players in the textile coatings market are dedicated to product innovation, exemplified by the introduction of Dartex MicroClimate EcoPlus. Developed to offer reliable services to customers, Dartex MicroClimate EcoPlus is a polyurethane-coated fabric renowned for its exceptional chemical resistance and unparalleled breathability. Launched in November 2023 by Trelleborg AB, a Sweden-based engineering company, this innovative fabric boasts a moisture vapor transfer rate (MVTR) exceeding 20%. Beyond its technical merits, Dartex MicroClimate EcoPlus is designed with environmental sustainability in mind, emphasizing waste reduction and contributing to sustainable development. Widely utilized in industries such as healthcare and medicine, this product underscores the industry's commitment to advancing both performance and environmental responsibility.

In a strategic move in September 2021, IMCD N.V., a Netherlands-based company specializing in specialty chemicals and ingredients formulation, successfully acquired Aquatech Speciality Trading Company Limited for an undisclosed amount. This acquisition has bolstered IMCD's Coatings & Construction Business Group's portfolio in China, complementing its future-oriented offerings. Aquatech's coatings business aligns seamlessly with IMCD's commitment to becoming a formidable partner in China for sustainable coatings solutions. With a shared focus on value creation and sustainability, the collaboration leverages IMCD's global network, technical expertise, and local presence to deliver enhanced value to customers and partners in driving sustainability within the coatings sector. Aquatech Speciality Trading Company Limited, a Chinese company specializing in coatings and ink, adds strategic depth to IMCD's presence and capabilities in the region.

Major companies operating in the textile coatings market report are Covestro AG, The Lubrizol Corporation, Huntsman International LLC, Solvay SA, Clariant AG, 3M Company, Akzo Nobel N.V., Arkema group, BASF SE, Berger Paints India Limited, Covestro AG, DSM Coating Resins Ltd., DuPont de Nemours Inc., Eastman Chemical Company, Evonik Industries AG, Kansai Nerolac Paints Limited, KCC Corporation, Omnova Solutions Inc., PPG Industries Inc., Solvay S.A., Sumitomo Chemical Company, Tanatex Chemicals B.V., Dow Inc., Sherwin-Williams Company, Valspar Corporation, Wacker Chemie AG, Zschimmer & Schwarz, Archroma Management LLC, LANXESS Aktiengesellschaft, Perstorp Holding AB, RPM International Inc.

Asia-Pacific was the largest region in the textile coating market in 2023. The regions covered in the textile coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the textile coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of textile coatings include thermoplastics, thermosets, and other variations. Thermoplastics represent coatings that do not chemically react during the drying process. Various methods are employed for coating textiles, such as direct coating, direct roll coating, pad-dry-cure coating, foamed & crushed foam coating, hot melt extrusion coating, calendar coating, among others. Technologies utilized include dot textile coating and full surface textile coating. Textile coatings find applications in diverse sectors such as clothing, transportation, construction, home furnishing, and healthcare, contributing to improved performance and aesthetics across these industries.

This report provides textile coatings market statistics, including textile coatings industry global market size, regional shares, competitors with a textile coatings market share, detailed textile coatings market segments, market trends and opportunities, and any further data you may need to thrive in the textile coatings industry. This textile coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The textile coating market consists of revenues earned by entities by polyvinyl chloride, polyurethane, acrylics, polyolefins, nylons, EVA, styrenebutadiene rubber and natural rubber. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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