Textile Coatings market analysis by Fact MR identifies leading segments in terms of Raw material,technology, and End Use. The study is intended to inform business about key trends influencing behavior pattern of consumers. It also offers recommendations to help them make informed decisions and navigate through unforeseen challenges.
Award-winning consulting firm Fact.MR has published a new report on the global textile coatings market for the forecast period of 2021-2031. As per its analysis, the market is anticipated to surpass US$ 5 billion in revenue, expanding at a CAGR of approximately 4% across the aforementioned decade. Demand is majorly underpinned by extensive uptake in industrial clothing and medical hygiene.
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Historically, the market accrued impressive gains, and was valued at over US$ 3 billion in 2016. Application prospects are also broadening within the geotextiles segment, as the global construction industry increasingly demands materials that possess enhanced mechanical response, advanced filtration capacities, and high chemical resistance.
Markets in Asia Pacific are slated to exhibit maximum growth, attributed to increasing construction activities across such key countries such as China and India. These countries are augmenting their reliance on geotextiles so as to render their infrastructure development projects highly durable and long-lasting. It is projected that China, India, and the United States will collectively contribute nearly 60% of total construction output by 2030, thereby increasing demand for robust construction material.
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“Surging infrastructure development projects across emerging economies, particularly with respect to public transportation systems, is paving the way for incorporating robust construction material, widening demand for textile coatings,” remarks a Fact.MR analyst.
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BASF SE, Clariant AG, Covestro AG, Du Pont, Huntsman International LLC, Omnova Solutions Inc., Solvay SA, Sumitomo Chemical Co. Ltd., Tanatex Chemicals B.V., and The Lubrizol Corporation are some key textile coating manufacturers operating in the global landscape.
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Fact.MR, in its new offering, presents an unbiased analysis of the textile coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of technology (dot coating technology and full surface coating technology), raw material (thermoplastics, thermosets, and others), and end use (geotextiles, upholstery fabric, industrial clothing, sports & leisure, medical hygiene, and others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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