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Textile coatings market forecast

May 24th, 2021 / By: / Industry News, News

According to Fact.MR, the global textile coatings market is slated to surpass US$ 5 billion, expanding at a steady CAGR of around 4% across the forecast period of 2021 to 2031. Demand is majorly underpinned by extensive uptake in industrial clothing and medical hygiene.

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 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.