|Fastest Growing Market:||Asia-Pacific|
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The global textile chemicals market is projected to register a CAGR of over 4.5% during the forecast period 2022-2027.
The textile industry was badly hit by the COVID-19 pandemic and is yet to recover. Even after the situation is expected to recover, the industry may take some time to recover over the coming years. This may further impact the demand for textile chemicals significantly.
· One of the major factors driving the market studied is the robust growth of the apparel market in developing economies.
· However, pollution problems caused by the textile dyeing and finishing industry are expected to restrain the market.
· Asia-Pacific is likely to dominate the market during the forecast period.
Scope of the Report
Textiles require a range of treatment processes before reaching the end user. Textile chemicals are specialty chemicals used during the dyeing and processing of textiles to impart desired properties to the end product. The textile chemicals market is segmented by type, application, and geography. By type, the market is segmented into coating and sizing chemicals, colorants and auxiliaries, finishing agents, desizing agents, and other types (yarn lubricant, bleaching agents, etc.). By application, the market is segmented into apparel, home furnishing, automotive textile, industrial textile, and other applications (medical textiles, sports textiles, etc.). The report also covers the size and forecasts for the textile chemicals market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).
|Coating and Sizing Chemicals|
|Colorants and Auxiliaries|
|Other Types (Yarn Lubricant, Bleaching Agents, etc.)|
|Other Applications (Medical Textiles, Sports Textiles, etc.)|
Key Market Trends
Apparel Application to Dominate the Market
· Apparel is one of the fundamental needs of a human being and is also one of the fastest-growing businesses globally. Textiles and clothing are key exports, especially for low- to middle-income countries.
· Increasing demand for textiles and apparel is expected to drive the demand for textile chemicals in these applications. Asia-Pacific, the largest market for woven fabrics, is witnessing healthy growth due to the increasing demand from countries like India and China.
· The Chinese textile and apparel industry is one of the major industries, and the country is the largest clothing exporter in the world.
· In India, the demand for apparel has increased in line with consumers' growing preference in response to foreign textile brands, whose presence has been growing in the market. The demand has been augmented by digitalization, social networking sites, and apps, which further boost apparel sales.
· Some apparel manufacturers in India state that the growth rate in menswear brands is at 7-10%, while the growth rate of apparel for women and kids is around 15-20%. Also, the growing number of working women has boosted the demand for women's apparel.
· Overall, the demand for textile chemicals is likely to rebound and grow substantially globally during the forecast period, owing to the demand from the apparel segment.
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Asia-Pacific Region Expected to Dominate the Market
· The Asia-Pacific region dominates the global market. With the growing demand for apparel and automotive and industrial textile from countries such as China, India, and Japan, the usage of textile chemicals is increasing in the region.
· China’s textile and apparel industry is one of its major industries. China's textile industry continued steady expansion in the first ten months of 2021, according to data from the country’s Ministry of Industry and Information Technology. The combined operating revenue of major textile enterprises in China rose by 14.2% Y-o-Y to reach CNY 4.13 trillion (USD 650.4 billion) in that period.
· China is the largest market for the automotive textile industry. China was the largest passenger car manufacturer in the world, reporting an estimated 21.4 million units produced in 2020. The number of units manufactured in China was well ahead of the production volumes of other countries. Thus, it is likely to boost the automotive textile industry in the country.
· Industrial textiles are built for a specific industry or profession and have many special qualities, like fire or water resistance. In India, growing end-user industries, like automobiles, healthcare, sports and infrastructure, and ongoing industrial development are supporting the growth of industrial textiles.
· All the aforementioned factors are anticipated to boost the overall demand for wet chemicals in Asia-Pacific during the forecast period.
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The global textile chemicals market is fragmented, with the presence of both multinational and regional companies. The top five players account for a noticeable share of the global market demand. Key players in the market include Archroma, Huntsman International LLC, Dow, Wacker Chemie AG, and Evonik Industries AG.
Huntsman International LLC
Wacker Chemie AG
Evonik Industries AG
- · In February 2021, Dow introduced innovative, durable water-repellent finishing to enable increasingly sustainable textiles. DOWSIL IE-8749 Emulsion treatment improves fabric retention, and the finish does not need to be regularly heat-treated to restore its water repellency performance, which is a key advantage in the durability of the final product.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Robust Growth in Textile Production in Developing Economies
4.1.2 Growing Demand for Industrial Fabrics in North America
4.2.1 Pollution Problems Caused by the Textile Dyeing and Finishing Industry
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Coating and Sizing Chemicals
5.1.2 Colorants and Auxiliaries
5.1.3 Finishing Agents
5.1.4 Desizing Agents
5.1.5 Other Types (Yarn Lubricant, Bleaching Agents, etc.)
5.2.2 Home Furnishing
5.2.3 Automotive Textile
5.2.4 Industrial Textile
5.2.5 Other Applications (Medical Textiles, Sports Textiles, etc.)
18.104.22.168 South Korea
22.214.171.124 ASEAN Countries
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Achitex Minerva SpA
6.4.3 Arkema Group
6.4.4 Chemipol (Kothari Group Of Industries)
6.4.5 CHT Group
6.4.6 Covestro AG
6.4.7 Croda International PLC
6.4.9 Evonik Industries AG
6.4.10 Formosa Organic Chemical Industry Co. Ltd
6.4.11 Giovanni Bozzetto SpA
6.4.12 Huntsman International LLC
6.4.13 Kemira Oyj
6.4.14 K-tech (India) Limited
6.4.15 L. N. Chemical Industries
6.4.16 Kiri Industries Ltd
6.4.18 Rudolf GmbH
6.4.20 Tanatex Chemicals BV
6.4.21 The Lubrizol Corporation
6.4.22 Wacker Chemie AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Ongoing Research and Development in the Field of Smart Textiles
Frequently Asked Questions
What is the study period of this market?
The Textile Chemicals Market market is studied from 2017 - 2027.
What is the growth rate of Textile Chemicals Market?
The Textile Chemicals Market is growing at a CAGR of >4.5% over the next 5 years.
Which region has highest growth rate in Textile Chemicals Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Textile Chemicals Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Textile Chemicals Market?
Archroma, Huntsman International LLC, Dow, Wacker Chemie AG, Evonik Industries AG are the major companies operating in Textile Chemicals Market.