The global textile coatings market is anticipated to grow significantly at a CAGR of 3.8% over the forecast period (2021-2027). The key aspect that drives the growth of the global textile coatings market includes significant growth in the textile industry across the globe. China is currently moving to the high-end manufacturing industry. The country earns considerable revenue owing to its textile industry. China exported $119.60 billion in textiles in 2019, whereas exports from India were $17.20 in the same year. India is an almost equally competitive market when it comes to textiles. The country has a developed textile industry. India is the second-largest producer of cotton in the world.
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Various government initiatives are also likely to support the growth of the textile industry across the globe; which significantly will drive the market growth. For instance, in December 2020, the Indian government has taken steps to onboard weavers/artisans on government e-marketplace (GeM), to provide a wider market and enable the handicraft and handloom sector to sell their product directly to various government departments and organizations. Additionally, in September 2020, the Union Cabinet approved signing an MOU between the textile committee, India, and M/s Nissenken Quality Evaluation Centre, Japan, for improving quality and testing Indian textiles and clothing for the Japanese market. This India-Japan pact on cooperation in textiles will facilitate Indian exporters to meet the requirements of Japanese importers as per the latter’s technical regulations. Hence, this will further create the scope for the market growth during the forecast period.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Coating Type and Application
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Arkema Group, BASF SE, Clariant AG, Covestro AG, Formulated Polymer Products Ltd., Huntsman International LLC, Lubrizol Corp., Solvay SA, Sumitomo Chemical Co., and Tanatex Chemicals BV among others
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Textile Coatings Market – Segmentation
By Coating Type
- PVC
- PU
- Acrylics
- Rubber
- Others
By Application
- Clothing
- Medical
- Transportation
- Construction
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
