New Report Highlights Opportunities in the Textile Coatings Market
A recently published report by MarketsandMarkets™, The"Textile Coatings Market by Type (Thermoplastic, Thermoset), End-use Industry (Transportation, Building & Construction, Protective Clothing, Industrial, Medical), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2028," reports that the market size was USD 4.4 billion in 2023 and will grow to USD 5.4 billion by 2028, at a CAGR of 4.6% from 2023 to 2028. The rising infrastructure development in developing economies, and aesthetically appealing materials in vehicle interiors, serve as significant drivers for innovation. This scenario presents a unique opportunity for the industry to focus on the development of textile coatings, which not only meets consumer demands but also aligns with sustainability goals. However, complex manufacturing process act as restraint, emphasizing the urgent need for eco-friendly alternatives in the textile coatings market.
The key players in textile coatings market are Covestro AG (Germany), Solvay SA (Belgium), BASF SE (Germany), Sumitomo Chemical Co., Ltd. (Japan), The Lubrizol Corporation (US), Clariant AG (Switzerland), TANATEX Chemicals B.V. (Netherlands), Huntsman International LLC (US), OMNOVA North America Inc. (US), Formulated Polymer Products Ltd. (UK), Arkema SA (France) and others.