New York, United States, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Due to the expanding textile industry, the use of cutting-edge technology, and the use of natural rubber as a coating material depending on the end use of textiles, textile coatings are becoming more and more popular. For instance, polyurethane (PU) is frequently used as a textile coating to enhance the quality of synthetic materials and shield color effects. These enhanced synthetic materials are then used to make footwear, clothing, car upholstery, and other items. The textile industry has undergone significant change in recent years as a result of shifting consumer preferences for clothing and fabric as well as new uses for these materials across a range of industries. For instance, the use of textiles extends beyond the production of clothing and other articles of clothing. For instance, using fire protective coatings, textiles can be used to create fabrics that are flame-retardant and fire-resistant, which are then used for military and fire service applications.
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Increasing Applications of Textile Coatings in Various Sector Drives the Market
The growth of the apparel industry worldwide is anticipated to increase demand for textile coatings during the forecast period. The growth of the clothing industry is being fueled by rising quality standards in developed economies and rising purchasing power and lifestyle changes in developing economies. The upholstery and airbag fabrics for cars, trucks, buses, trains and two-wheelers are also made with textile coatings. Therefore, it is anticipated that during the forecast period, Europe and Asia Pacific, which have the strongest foundations for the automotive industry, will provide a consistent source of revenue for the textile coatings market. Textile coatings are used in hoardings, signage, scaffolding nets, canopies, awnings, architectural membranes, conveyor belts, and safety gear for construction workers. As a result, there will likely be a significant increase in demand for the global building and construction sector. In the home furnishings sector, textile coatings are also used to make curtains, carpet backings, sofa covers, and pillow and cushion covers.
The booming Healthcare Sector gives an Opportunity for Exponential Growth
In the healthcare sector, textile coatings are widely used to produce tools like extracorporeal devices, implants, and medical gloves. As a result, it is anticipated that during the assessment period, demand from the healthcare sector will be extremely high. Clothing that is lighter, more comfortable, and better suited for safeguarding patients and operating room staff is being developed in hospitals using coating and laminating technologies. The medical, healthcare and hygiene sectors make up a sizeable and growing portion of the textile coating market. Applications can be as simple as a cleaning cloth or as complex as the barrier fabrics used in operating rooms. Using innovative, cost-effective techniques that also protect hospital staff and patients, the operating room environment is shielded from bacterial, viral, and body fluid intrusions.
Report Scope
| Report Metric | Details |
| Market Size by 2031 | USD 9.59 billion |
| Market Size in 2022 | USD 6.86 billion |
| CAGR | 3.8% |
| Historical Data | 2020-2021 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By End-User, By Technology |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Covestro AG. (Germany) , Huntsman International LLC (U.S.) , Solvay S.A. (Belgium) , BASF SE (Germany) , Omnova Solutions Inc. (U.S.),The Lubrizol Corporation (U.S.) , DSM (Netherlands) , Tanatex Chemicals ( India) |
| Key Market Opportunities | Growth in Healthcare Sector |
| Key Market Drivers | Wider Applications of Textile Coatings |
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Regional Analysis
Asia Pacific region is the highest contributor to the market during the forecast period. The market's expansion is attributed to a variety of industrial applications, including building and construction, automotive, and others. It is anticipated that India's expanding textile industry will increase demand for textile coating. For instance, the Indian Brand Equity Foundation projects that the country's textile industry will generate USD 190 billion by 2025. One of the top producers of textiles in the world is India. Customers from all over the world import Indian textiles because of the high-quality fabric and affordable prices.
North America's dominance of the global textile coatings market is anticipated to continue due to its thriving automotive sector and established automotive manufacturing facilities. Additionally, rising auto production fueled the market for textile coatings. The second-largest exporter of textile-related products in the world is the American industry. In terms of global textile research and development, the United States is in the lead. Next-generation textile materials are being developed by the American textile industry, including electronic textiles that can measure heart rate, conductive fabric with anti-static properties and other vital signs, antimicrobial fibers, life-saving body armor, and new fabrics that can regulate body temperature. For instance, the International Organization of Motor Vehicle Manufacturers reports that 2,199,789 units of cars were produced in Canada, and 11,189,985 units were produced in the United States.
Due to the expansion of stadiums, airports, and aircraft hangars, among other factors, Europe is predicted to dominate the global market for textile coatings during the forecast period. For instance, with a capacity increase over the 100,000-seat mark and the need for additional capacity expansion, Europe's largest football stadium is predicted to move up to second in the world. Additionally, there are 1,233 stadiums in Europe as of today, which expands the market for textiles both now and in the future.
In light of the expanding hotel, restaurant, and casino construction industries, where awnings and canopies are specifically used to give hotel entrances a pleasant and artistic appearance, the LAMEA region is predicted to experience significant growth. For instance, the UAE's hospitality sector is anticipated to experience significant growth, given the country's rapid increase in visitors. Recent data analysis showed that hotels in the Emirati hosted nearly six million visitors who stayed there for 25 million nights in the first three months of 2022, an increase of 10% from the same period in 2019. This scenario supports the expanding opportunities for textile coating in Middle Eastern nations.
Key Highlights
- The global textile coatings market size is projected to reach USD 9.59 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2023-2031).
- Based on type, the global textile coatings market is bifurcated into thermosets cellulosic, natural rubber, polyvinyl chloride, thermoplastics, acrylics, and polyurethane. The thermoplastics segment is the highest contributor to the market during the forecast period.
- Based on the end-user, the global textile coatings market is bifurcated into the building & construction industry, transportation, agriculture, automotive, industrial, and fabric filters. The building & construction industry segment is the highest contributor to the market during the forecast period.
- Based on application, the global textile coatings market is bifurcated into traditional, advanced, magnetron sputtering, and plasma coating. The traditional segment is the highest contributor to the market and is expected to grow at a CAGR of xx% during the forecast period.
- Asia Pacific is the highest contributor to the global textile coatings market.
Competitive Analysis:
The global textile coatings market's major key players are Covestro AG. (Germany), Huntsman International LLC (U.S.), Solvay SA (Belgium), BASF SE (Germany)., Omnova Solutions Inc. (U.S.), The Lubrizol Corporation (U.S.), DSM (Netherlands), Tanatex Chemicals ( India)., National Coating Corporation (U.S.), Textiles Coated International (Australia), The Dow Chemical Company (U.S.), Sumitomo Chemical Company (Japan) and Clariant AG (Switzerland).
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Global Textile Coatings Market: Segmentation
By Type
- Thermosets Cellulosic
- Natural Rubber
- Polyvinyl Chloride
- Thermoplastics
- Acrylics
- Polyurethane
By End-User
- Building & Construction Industry
- Transportation
- Agriculture
- Automotive
- Industrial
- Fabric Filters
By Technology
- Traditional
- Advanced
- Magnetron Sputtering
- Plasma Coating
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
TABLE OF CONTENT
- EXECUTIVE SUMMARY
- RESEARCH SCOPE & SEGMENTATION
- RESEARCH OBJECTIVES
- MARKET DEFINITION
- LIMITATIONS & ASSUMPTIONS
- MARKET SCOPE & SEGMENTATION
- CURRENCY & PRICING CONSIDERED
- MARKET OPPORTUNITY ASSESSMENT
- EMERGING REGIONS / COUNTRIES
- EMERGING COMPANIES
- EMERGING APPLICATIONS / END USE
- INVESTMENT LANDSCAPE
- NEW BUSINESS MODELS / REVENUE STREAMS
- TAM
- MARKET TRENDS
- DRIVERS
- MARKET WARNING FACTORS
- LATEST MACRO ECONOMIC INDICATORS
- GEOPOLITICAL IMPACT
- HUMAN FACTORS
- TECHNOLOGY FACTORS
- MARKET ASSESSMENT
- PORTERS FIVE FORCES ANALYSIS
- VALUE CHAIN ANALYSIS
- RAW MATERIAL ANALYSIS
- SALES AND DISTRIBUTION CHANNEL ANALYSIS
- TRADE ANALYSIS
- M & A AGREEMENTS & COLLABRATION ANALYSIS
- EXPORT IMPORT ANALYSIS
- COST STRUCTURE ANALYSIS
- ESG TRENDS
- GLOBAL TEXTILE COATINGS MARKET SIZE ANALYSIS
- GLOBAL TEXTILE COATINGS MARKET INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- NORTH AMERICA MARKET ANALYSIS
- INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- U.S.
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BY TYPE
- CANADA
- EUROPE MARKET ANALYSIS
- INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- U.K.
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BY TYPE
- GERMANY
- FRANCE
- SPAIN
- ITALY
- RUSSIA
- NORDIC
- BENELUX
- REST OF EUROPE
- APAC MARKET ANALYSIS
- INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- CHINA
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BY TYPE
- KOREA
- JAPAN
- INDIA
- AUSTRALIA
- TAIWAN
- SOUTH EAST ASIA
- REST OF ASIA-PACIFIC
- MIDDLE EAST AND AFRICA MARKET ANALYSIS
- INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- UAE
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BY TYPE
- TURKEY
- SAUDI ARABIA
- SOUTH AFRICA
- EGYPT
- NIGERIA
- REST OF MEA
- LATAM MARKET ANALYSIS
- INTRODUCTION
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BRAZIL
- BY TYPE
- INTRODUCTION
- TYPE BY VALUE
- THERMOSETS CELLULOSIC,
- BY VALUE
- NATURAL RUBBER,
- BY VALUE
- POLYVINYL CHLORIDE,
- BY VALUE
- THERMOPLASTICS,
- BY VALUE
- ACRYLICS, AND
- BY VALUE
- POLYURETHANE
- BY VALUE
- INTRODUCTION
- BY END-USER
- INTRODUCTION
- END-USER BY VALUE
- BUILDING & CONSTRUCTION INDUSTRY
- BY VALUE
- TRANSPORTATION
- BY VALUE
- AGRICULTURE
- BY VALUE
- AUTOMOTIVE
- BY VALUE
- INDUSTRIAL
- BY VALUE
- FABRIC FILTERS
- BY VALUE
- INTRODUCTION
- BY TECHNOLOGY
- INTRODUCTION
- TECHNOLOGY BY VALUE
- TRADITIONAL
- BY VALUE
- ADVANCED
- BY VALUE
- MAGNETRON SPUTTERING
- BY VALUE
- PLASMA COATING
- BY VALUE
- INTRODUCTION
- BY TYPE
- MEXICO
- ARGENTINA
- CHILE
- COLOMBIA
- REST OF LATAM
- COMPETITIVE ASSESSMENT
- ADOPTION MATRIX
- TEXTILE COATINGS MARKET SHARE BY MANUFACTURERS
- TEXTILE COATINGS MARKET RANKING BY REVENUE FOR MANUFACTURERS
- AVERAGE PRICE BY MANUFACTURERS
- VENDOR FOOTPRINT ANALYSIS
- MARKET PLAYERS ASSESSMENT
- COVESTRO AG (GERMANY)
- OVERVIEW
- BUSINESS INFORMATION
- REVENUE
- ASP
- GROSS MARGIN
- SWOT ANALYSIS
- RECENT DEVELOPMMENTS
- HUNTSMAN INTERNATIONAL LLC (U.S.)
- SOLVAY S.A. (BELGIUM)
- BASF SE (GERMANY)
- OMNOVA SOLUTIONS INC. (U.S.)
- THE LUBRIZOL CORPORATION (U.S.)
- DSM (NETHERLANDS)
- TANATEX CHEMICALS ( INDIA)
- NATIONAL COATING CORPORATION (U.S.)
- TEXTILES COATED INTERNATIONAL (AUSTRALIA)
- THE DOW CHEMICAL COMPANY (U.S.)
- SUMITOMO CHEMICAL COMPANY (JAPAN)
- CLARIANT AG (SWITZERLAND)
- COVESTRO AG (GERMANY)
- RESEARCH METHODOLOGY
- RESEARCH DATA
- SECONDARY DATA
- MAJOR SECONDARY SOURCES
- KEY DATA FROM SECONDARY SOURCES
- PRIMARY DATA
- KEY DATA FROM PRIMARY SOURCES
- BREAKDOWN OF PRIMARIES
- SECONDARY AND PRIMARY RESEARCH
- KEY INDUSTRY INSIGHTS
- SECONDARY DATA
- MARKET SIZE ESTIMATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- MARKET PROJECTION
- RESEARCH ASSUMPTIONS
- ASSUMPTIONS
- LIMITATIONS
- RISK ASSESSMENT
- RESEARCH DATA
- APPENDIX
- DISCUSSION GUIDE
- CUSTOMIZATION OPTIONS
- RELATED REPORTS
- DISCLAIMER
Table of Content and Figure @ https://straitsresearch.com/report/textile-coatings-market/toc
News Media
Global Textile Coatings Market Grows at a Staggering CAGR of 3.8%
Market News
- In March 2022, Covestro opened two new production lines in India to expand its polycarbonate compounding operations.
- In July 2022, Covestro opened up two new production facilities in shanghai for polyurethane and elastomers.
- In May 2022, Solvay launched a new platform focused on biotechnology and renewable materials.
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