The global textile chemicals market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Textile chemicals are specialty chemicals used for manufacturing and processing of textiles in the textile industry. Textile chemicals improve the manufacturing process and impart desired specifications to the end products. Textile chemicals are segmented based on type and application. Some of the common textile chemicals include dyes, pigments, surfactants and others.
Based on type textile chemicals can be pre-treatment chemicals, dyeing and printing chemicals, finishing chemicals, preparation chemicals, textile colorants, textile pigments, textile coating chemicals, and others.
Based on applications textile chemicals can be for home furnishing textiles, apparel, industrial textiles, home textiles, technical textiles, automotive, and others.
As textile chemicals are the primary ingredients used in textile industry, demand from this industry is expected to increase the growth of textile chemicals market. Growing demand for various textiles like home furnishing, apparel, industrial and others is helping in the growth of textile industry. Demand from textile industry is actually increasing because of growing need for textiles due to increasing population and extra income in developing countries.
Drivers and Restraints of Global Textile Chemicals Market
Growing investments in textile industry in regions like Asia and the Americas are likely to offer tremendous possibilities for textile chemicals market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Growing conscious among users on eco-friendly textiles is a concern for textile chemicals market. Regulations on certain dyes and processing chemicals are also a concern for the market. Existing and future regulations concerning the use of certain textile chemicals are likely to challenge the market growth.
Global Textile Chemicals Market by Region
Asia was the largest consumer of textile chemicals and this pattern is anticipated to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in population growth and economic activity. Growing demand for textiles will drive textile chemicals market in the region. With major production capacities in China, the region is likely to grow in terms of global supply capability. Demand from North America was relatively stable and is likely to stay same in the next few years. Consumption of textile chemicals in the Europe is likely to grow at a significant rate. Eastern Europe, in particular, is the fastest growing market for textile chemicals in this region.
Top players in this market include Lonsen (China), Lubrizol Corporation (U.S.), Bayer (Germany), BASF (Germany), The Dow Chemical Company (U.S.), Huntsman Corporation (Singapore), Archroma (Switzerland) among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth