The global textile chemicals market is estimated at USD 26.5 Billion in 2022 and is forecast to surpass USD 40.6 Billion by 2032, growing at a CAGR of 4.3% from 2022 to 2032.
The global textile chemicals market is likely to create an absolute dollar opportunity of USD 14.1 Billion by the end of 2032. The global textile chemicals market holds ~1% of the global chemicals market.
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Global Textile Chemicals Market Definition
Textile chemicals are a diverse group of chemicals used in the clothing manufacturing process. They’re frequently used in textile pre-treatment, which includes de-sizing, scouring, bleaching, and mercerizing, as well as dyeing, printing, and finishing. Color, softness, sweat absorption, desirable texture, and finish are all added to fabrics by them. They also give the finished product flame, crease, wrinkle, and stain resistance, as well as antibacterial and water-repellent qualities.
Rise in the adoption of sustainable products for textile manufacturing
As a result of rigorous environmental limitations and a commitment to long-term goals, the majority of textile and chemical firms are transitioning to green chemicals. The growing demand for green textile chemicals has the potential to expand both in developing and developed countries. Therefore as result, increased demand for sustainable products is expected to propel the textile chemical industry forward.
Growing demand for textiles in packaging industry
Another element driving the future growth of the worldwide textile chemicals market is rising demand for textiles in packaging industry. Textile chemicals are clearly used as colourants and finishing agents in these packaging materials, which is driving market expansion. As a result, as the demand for technological textiles rises, so will the production rate, boosting the global textile industry’s growth.
Furthermore, increasing level of disposable income and swift urbanization will drive market value growth. The rising demand for improved home furnishing and other household products will influence the growth rate of the textile chemicals market. The growing demand for technical textile is the key elements driving market expansion. Additionally, upsurge in the demand for sports and active wear will enhance the growth rate of textile chemicals market. Also, rapid industrialization and favorable regulations towards the use of eco-friendly products will act as major factors influencing the growth of textile chemicals market. The introduction of advanced technologies, and rising number of population will have positive impact on the growth rate of textile chemicals market.
The global textile chemicals market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of textile chemicals.
Fact.MR has provided detailed information about price points of key manufacturers in textile chemicals market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
- Dow in 2021 in order to enable sustainable textiles introduced innovative durable water-repellent finishing to improve fabric retention. One of the key advantage being offered is that it does not require the heat-treatment to restore water repellency performance
- Phong Phu International (PPJ) and Huntsman Textile Effects partnered in 2020 to endorse the growth of Phong Phu International as a leading manufacturer of high-performance garments and textiles
Key Companies Profiled:
- Huntsman International LLC
- Wacker Chemie AG
- Evonik Industries AG
- Bozzetto Group
- Phong Phu International (PPJ)
- Achitex Minerva
- Other Market Players
For More Insights of Fact.MR Trending Report
Key Segmentation :
- By Product Type,
- Coating and Sizing Agents
- Colorants and Auxilliaries
- Finishing Agents
- Desizing Agents
- Bleaching Agents
- Other Product Types
- By Fiber Type,
- Natural Fiber
- Synthetic Fiber
- By Application,
- Home Textile
- Automotive Textile
- Industrial Textile
- By Region,
- North America
- Latin America
- East Asia
- South Asia & Oceania
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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