Textile Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Textile Chemicals Market is segmented by Type (Coating and Sizing Chemicals, Colorants, and Auxiliaries, Finishing Agents, Desizing Agents, and Other Types), Application (Apparel, Home Furnishing, Automotive Textile, Industrial Textile, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for Textile Chemicals in revenue (USD million) for the above-mentioned segments.

Market Snapshot

Textile Chemicals Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4 %

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Market Overview

The global textile chemicals market was valued at USD 24,308.38 million in 2020, and it is projected to register a CAGR of around 4% during the forecast period (2021-2026).

The COVID-19 has a huge impact on the apparel industry globally due to the lockdown in various countries, impacting the textile chemicals industry. The global textile and apparel industry is hugely dependent on China as a manufacturing base, where the novel COVID-19 first struck and the subsequent spread of the virus to other countries. This led to store closures and dwindling demand for textiles, which impacted the industry overall. The viability of the textile, clothing, leather, and footwear industries is unraveling as workers are instructed to stay at home, as factories were closed, and the global supply chains came to a halt. The cancelation of orders hit thousands of firms and millions of workers very hard. Moreover, with the focus shifting toward health, hygiene, and essential supplies, the fashion and textile industries were paused. There are fewer to no walk-ins at stores, and online orders slowed down, which affected the apparel industry. Additionally, the home textile sector is widely considered a luxury sector and is sensitive to economic cycles. This crisis left a serious impact on the demand for such products, especially in the mid, high, and premium segments. Even after the situation is expected to recover, the industry may take some time to recover in the coming years, further impacting 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 likely 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 by coating and sizing chemicals, colorants and auxiliaries, finishing agents, desizing agents, and other types. By application, the market is segmented into apparel, home furnishing, automotive textile, industrial textile, and other applications. The report also covers the market size and forecasts for the textile chemicals market in 16 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).

Type
Coating and Sizing Chemicals
Colorants and Auxiliaries
Finishing Agents
Desizing Agents
Other Types
Application
Apparel
Home Furnishing
Automotive Textile
Industrial Textile
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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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. Bangladesh has the highest total dependence on textiles and clothing as a total share of merchandise exports (83%), followed by Pakistan (66%) and Sri Lanka (45%). The top textile apparel exporters are China, India, Bangladesh, Turkey, Indonesia, and Vietnam, accounting for over 70% of the total global textile apparel exports.​
  • Increasing demand for textiles and apparel is expected to drive the demand for textile chemicals in these applications. As the largest market for woven fabrics, Asia-Pacific is witnessing healthy growth due to the increasing demand in countries like India and China.
  • China’s textile and apparel industry is one of the major industries, and the country is the largest clothing exporter across the world.
  • In India, the demand for apparel has increased with growing consumer preference in response to the growing foreign textile brands. The demand has been augmented by digitalization, social networking sites, and apps, which help in increasing the sale of garments. Some apparel manufacturers in India state that the growth rate in menswear brands is at 7-10%, while the growth rate of women and kids apparel is around 15-20%. Also, the growing number of working women has increased the demand for women's apparel.
  • Small regions, such as Bangladesh, witnessed an increase in population and living standards, driving the demand for knitted fabrics.
  • However, the COVID-19 has a huge impact on the apparel industry globally due to the lockdown in various countries. Moreover, the slowing down of manufacturing activities due to the economic slowdown and lockdowns due to the COVID-19 outbreak are expected to have a negative impact on the growth of the market studied, but it is likely to recover by the end of 2021.
  • The COVID-19 crisis is an unprecedented shock to this supply chain, creating a dramatic domino effect of revenue losses. In Germany, offline fashion retail sales in the first three weeks of March 2020 dropped by 42%, compared to the same period the year before. In Bangladesh, orders were canceled in the first few days of May 2020, representing a value of over EUR 2 billion.​
  • 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.​​
Textile Chemicals Market Share

China to Dominate the Asia-Pacific Market

  • In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was increased by 2.3% compared to the previous year.
  • The Chinese textile industry is the largest in the world, both in terms of production and exports. The textile industry in China is also booming with increasing investments and government support from the 13th Five Year Plan.
  • Investment in the country’s textile industry increased due to cheaper electricity rates, transportation subsidies, and lower raw cotton prices.
  • Through the Belt & Road initiative, the country saw an in-flow of huge investments, both domestic and foreign, mainly focusing on increasing production capacity in the country and further increase exports of textiles and apparel.
  • Moreover, amid the recent COVID-19 outbreak, there was an exponential increase in the production of masks and PPE kits, both domestically and internationally, which enhanced the usage of textile chemicals significantly. As of May 2020, China produced around 116 million medical masks and millions of PPE kits daily.
  • China is the largest market for the automotive textile industry. The largest automobile maker General Motors (GM), said that it had delivered 771,400 vehicles in China in the third quarter of 2020 that followed a second-quarter fall of 5%. According to the GM report, with the rapid advancements in the field and the growing need for technologically developed high-performing fabrics, many players will emerge to benefit from it. It is estimated that the growth of the automobile textile industry in the next few years will be seen at 15% in China.
  • Hence, from the above-mentioned factors, the demand for textile chemicals in China is likely to be affected in the short run, and it is estimated to recover and grow potentially over the forecast period.
Textile Chemicals Market Growth Rate By Region

Competitive Landscape

The global textile chemicals market is fragmented, with the presence of both multi-nationals and regional players. The top 5 players account for a noticeable share of the global market demand. Key players in the market studied include Archroma, Huntsman International LLC, Dow, Wacker Chemie AG, and Evonik Industries AG.

Recent Developments

  • In April 2020, Huntsman Textile Effects and Phong Phu International (PPJ) announced a partnership agreement, aiming to endorse the growth of Phong Phu International (PPJ) in Vietnam as a leading manufacturer of sustainable, high-performance textiles and garments for various leading brands and retailers, globally.​
  • In January 2020, Bozzetto Group and Asutex announced the finalization of an agreement deal to create a new leader in the specialty textile chemicals industry.​
  • In July 2019, Achitex Minerva successfully acquired the corporate assets of Minerva Color Columbiana to expand the market structure of Achitex Minerva Colombia Ltd in Bogota.​

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Robust Growth in the Apparel Market in Developing Economies

      2. 4.1.2 Growing Demand for Industrial Fabrics in North America

    2. 4.2 Restraints

      1. 4.2.1 Pollution Problems Caused by the Textile Dyeing and Finishing Industry

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Coating and Sizing Chemicals

      2. 5.1.2 Colorants and Auxiliaries

      3. 5.1.3 Finishing Agents

      4. 5.1.4 Desizing Agents

      5. 5.1.5 Other Types

    2. 5.2 Application

      1. 5.2.1 Apparel

      2. 5.2.2 Home Furnishing

      3. 5.2.3 Automotive Textile

      4. 5.2.4 Industrial Textile

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of the Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Achitex Minerva SpA

      2. 6.4.2 Archroma

      3. 6.4.3 Arkema Inc.

      4. 6.4.4 GIOVANNI BOZZETTO SpA

      5. 6.4.5 Chemipol ( Kothari Group Of Industries)

      6. 6.4.6 CHT Group

      7. 6.4.7 Covestro AG

      8. 6.4.8 Croda International Plc

      9. 6.4.9 Dow

      10. 6.4.10 Evonik Industries AG

      11. 6.4.11 Formosa Organic Chemical Industry Co.,Ltd

      12. 6.4.12 Huntsman International LLC

      13. 6.4.13 Kemira

      14. 6.4.14 K-TECH (INDIA) LIMITED

      15. 6.4.15 L. N. Chemical Industries

      16. 6.4.16 Kiri Industries Ltd

      17. 6.4.17 Nouryon

      18. 6.4.18 Rudolf GmbH

      19. 6.4.19 Sarex

      20. 6.4.20 Tanatex Chemicals BV

      21. 6.4.21 The Lubrizol Corporation

      22. 6.4.22 Wacker Chemie AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Ongoing Research and Development in the Field of Smart Textile

**Subject to Availability

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Frequently Asked Questions

The Textile Chemicals Market market is studied from 2016 - 2026.

The Textile Chemicals Market is growing at a CAGR of 4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Archroma, Huntsman International LLC, Dow, Wacker Chemie AG, Evonik Industries AG are the major companies operating in Textile Chemicals Market.

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