Textile Chemicals

Textile Chemicals Market Predicted to Garner a Revenue of US$ 35.4 Billion by 2027 Textile Chemicals Market Size, Share and Growth Analysis, Trends, and Forecasts to 2027

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[150+ Pages Report] The textile chemicals market size in terms of value is projected to reach $ 35.4 billion by 2027, at a CAGR of 4.3% between 2020 and 2027, according to a 2021 study by Precedence Research, the Canada based market insight company.

The study provides the overall revenue of the global textile chemicals market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global textile chemicals market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the textile chemicals industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

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Growth Factors

The major factors driving the growth of the market include the growing demand for apparel and industrial fabrics globally. Apparel is one of the oldest and largest export industries across the globe. Apparel is often the typical starter industry for countries engaged in export-oriented markets, due to its low fixed costs and emphasis on labor-intensive manufacturing. Rapid growth in the apparel industry drives the textile chemicals market prominently. To explore more market opportunities market players are collaborating with the stakeholders in apparel industry value chain. Furthermore, a paradigm shift in the sustainable and responsible manufacturing has upended the market trend for types of textile chemicals. Presently, green and eco-friendly textile chemicals are the most preferred chemicals in the market. Furthermore, public awareness has also triggered the use of non-toxic and green dyes and colorants to remain safe from skin allergies and other diseases.

However, governments from various regions have imposed stringent regulation for the application of harmful chemicals such as chlorine bleach, VOCs, and formaldehyde in the manufacturing process of textile chemicals. This is largely attributed to the health problems to the industry workers that are exposed to these chemicals as some of them are highly toxic in nature. Hence, manufacturers have to develop sustainable solution for the textile manufacturing along with increased attention towards cost-effective feature.

Report Highlights

  • The Asia Pacific led the global textile chemicals market with significant revenue share in 2010 owing large population and exponential growth in apparel industry. Furthermore, increasing sales of passenger and commercial vehicles in the region again contributes significantly towards the positive growth of industrial textiles in the region.
  • Europe and North America are the most opportunistic regions in the global textile chemicals market. The key factors responsible for their exponential growth are prominent growth of automotive industry coupled with technological advancement in the apparel and industrial fabrics. The regions are the major importers for the textile chemicals from China.
  • By product, coating & sizing chemicals segment acquired the maximum revenue share in the global textile chemicals market in 2020. Coating & sizing offers strength and abrasion resistance during yarn weaving. However, dyes & dyestuffs anticipated to grow with the highest CAGR due to rising preference for non-toxic colorants and dyes.
  • In 2020, apparel segment dominated the global textile chemicals market and expected to continue its dominance during the forecast period. Increasing investments by the apparel manufacturers to attract maximum unique selling points for its products. Besides this, technical textile offer lucrative growth opportunity during the forecast period. The prime factor behind this is introduction of smart textiles for dynamic functionalities.

Report Scope of the Textile Chemicals Market

Report Coverage Details
Market Size USD 35.4 Billion by 2027
Growth Rate CAGR of 4.3% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Product Type, Application Type, Region Type
Companies Mentioned Archroma, Lonsen Inc., Evonik Industries AG, Huntsman, Solvay, CHT Group

Regional Snapshots

In 2020, the Asia Pacific dominated the global textile chemicals market with magnificent revenue share. Low production and labor cost supported by new technologies has resulted in the rapid growth of the region. China is the largest producer and consumer of textile chemicals across the world. It exports most of its products to North America and Europe. Besides this, India, Bangladesh, Vietnam, and Indonesia are some of the other major textile producing nations in Asia region. For instance, apparel and clothing export business in Bangladesh raised three folds between 2008 and 2018. Further, the textile industry contributes approximately 13% to the country’s GDP. According to Bangladesh Textile Mills Association (BTMA), total number of spinning mills in Bangladesh rose from 260 to 430 between 2006 and 2018.

However, Europe and North America project lucrative growth during the forecast period. Rising demand for technical textiles in the regions is the key factor that drives the market growth. The regions being technically advanced adapt new technologies easily and primarily than other regions. Therefore, disruption in automotive industry along with other industries such as fashion, manufacturing, and others prominently drives the demand for textile chemicals in the region.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global textile chemicals market are as follows:

  • Archroma
  • Lonsen Inc.
  • Evonik Industries AG
  • Huntsman
  • Solvay
  • CHT Group

Market Segmentation

By Product Outlook

  • Dyes & Dyestuff
    • Basic Dyes
    • Acid Dyes
    • Direct Dyes
    • Reactive Dyes
    • Disperse Dyes
    • Vat Dyes
    • Sulfur Dyes
    • Others (Azo Dyes and Mordant Dyes)
  • Coating & Sizing Chemicals
    • Defoamers
    • Wetting Agents
    • Others (Adhesives, Softening Agents, and Antimicrobial Agents)
  • Surfactants
  • Finishing Agents
  • De-sizing Agents
  • Yarn Lubricants
  • Bleaching Agents
  • Others (Leveling Agents, Scouring Agents, and Fixing Agents)

By Application Outlook

  • Technical Textiles
    • Geotech
    • Meditech
    • Agrotech
    • Others (Clothtech, Including Buildtech, and Hometech)
  • Home Furnishing Textiles
    • Furniture
    • Carpets & Rugs
    • Others
  • Industrial Textiles
  • Apparel

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights of the report are:

  • Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
  • Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
  • Competitive Landscape Analysis – Some of the leading companies operating in the textile chemicals market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Why should you invest in this report?

If you are aiming to enter the global textile chemicals market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for textile chemicals are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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