PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555805
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555805
The Textile Binders Market was estimated at USD 1,481.3 million in 2023, growing at a CAGR of 5.50% between 2024 and 2032.
Textile binders are chemicals that hold two materials together using cohesion and adhesion. They penetrate the entire material, giving it strength and durability. Color retention is a common indicator of fabric longevity. Textile binders could be natural or synthetic. There are several types of textile binders available, including acrylic copolymers, vinyl acrylate acrylic, and styrene acrylate. They are employed in the production of pigment printing paste, which is used to color fabrics. Textile binders are also utilized in the clothing production process for fabric coating and printing.
Textile Binders Market- Market Dynamics
Increasing demand from the home furnishing sector
One of the main factors influencing growth in this market is the increasing demand from the sector of home furnishings. Users are always looking forward to newer and longer-lasting home textiles, for which textile binders become very important to enhance the tensile strength and durability of fabrics. High-performance textile binders enhance functionality and style in products such as sofas, curtains, and bed linens. Besides, the demand for newer and more innovative textile binders for sustainable, eco-friendly products keeps emerging and is on the rise. All these combined wills raise the growth rates of the textile binders market as suppliers try to keep pace with consumers in terms of better quality and sustainability in the home furnishings sector.
Textile Binders Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 5.50% from 2024-2032.
According to Materials segmentation, in 2023, the acrylic copolymer segment became the dominating player in the worldwide Textile binder market.
According to application segmentation, the flocking category is expected to expand rapidly during the forecast period
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Textile Binders Market is divided into three segments: Material, application, and region.
The market is divided into four divisions based on materials: Vinyl Acrylate Copolymer, Styrene Acrylate Copolymer, Acrylic Copolymer, and Others (Including Self-Crosslinking Binders, Anionic Surfactants, And Melamine Formaldehyde). In 2023, the acrylic copolymer segment became the dominating player in the worldwide Textile binder market. Acrylic copolymers are highly versatile and commonly utilized as textile binders. They exhibit great adhesion, durability, and resistance to environmental conditions. Acrylic copolymers may dominate the Textile binder market, particularly in places where textiles demand strong binding qualities and durability.
The market is segmented into four segments according to application: Lamination, Fabric Coating & Printing, Flocking, and Others (Including Crushed Foam Printing And Pigment Discharge Printing). The flocking category is expected to expand rapidly during the forecast period. Flocking is the process of adding fine fibers to a cloth surface to produce a smooth, velvety texture. Flocking adhesives are utilized to attach these fibers to the fabric. The domination of the Flocking segment may be significant, given the increased demand for flocked textiles in industries such as automotive, fashion, and home furnishings.
Textile Binders Market- Geographical Insights
Geographically, this market is distributed over Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. These regions are further segmented according to the countries bringing commerce. The Asia Pacific region accounted for a disproportionately large revenue share of the global market for textile binders in 2022, owing to the presence of major textile manufacturing nations like as China and India. The primary forces behind market expansion in the Asia Pacific area include the growth of the textile industry, especially in developing countries, as well as increases in population and disposable income. A further factor driving the need for textile binders in the area is the rapid industrialization of the region, which has raised demand for technical textiles. China is one of the world's major producers of textiles, accounting for over half of global production. This has led to an increase in the local market for textile binders.
North America is expected to have the highest revenue CAGR throughout the forecast period due to increased demand for technical textiles in a variety of industries, including construction, automotive, and healthcare. Furthermore, the market is developing as a result of the presence of major textile binder manufacturers in the area, as well as the adoption of sustainable and ecologically friendly manufacturing practices. Furthermore, the region's market is expected to rise as consumers become more aware of eco-friendly and sustainable textile production methods, as well as their high discretionary incomes.
The competitive landscape in the textile binders market is consolidated, as there is a representation of various key participants attempting to innovate with ambition for market share. Key companies like Dow Inc, OMNOVA Solutions Inc., Clariant AG, BASF SE, and Akzo Nobel N.V. are at the front with value addition in products and offering sustainable solutions. Most of these companies have R&D facilities that work to enhance binder performance while meeting environmental regulations. Regional players also emerge to meet the demand and preferences of a particular region. Firms also try to achieve wider coverage and enhanced product portfolios through strategic partnerships, mergers, and acquisitions.
In August 2021, Stahl Holdings B.V. announced the acquisition of Eagle Performance Products, a US-based maker of specialized chemicals for the textile sector. The acquisition sought to broaden Stahl's product options in the North American market.