Global Textile Chemicals Market - 2024-2031

Global Textile Chemicals Market - 2024-2031

Global Textile Chemicals Market reached US$ 23.5 billion in 2023 and is expected to reach US$ 33.2 billion by 2031, growing with a CAGR of 4.4% during the forecast period 2024-2031.

The growing lifestyle, particularly in developing and developed countries, has encouraged the manufacturing of textiles used for upholstery, clothing, floor coverings, and home furnishings, hence boosting market expansion. Chemicals are now being used as supplementary raw materials as a result of increased textile production and consumption. Textile manufacture necessitates the use of a wide variety of chemicals.

In accordance with the American Chemistry Council, the chemical sector in the U.S. is predicted to rise in volume due to rising demand for chemicals from the automotive, construction, and consumer goods industries. Companies are developing strategies to suit market demands and expand their presence. For instance, in June 2021, Archroma teamed with Van Horn, Metz & Co. Inc., a specialist raw material distributor in the country, to distribute Mowilith emulsions.

In 2023, North America is expected to be the second-dominant region with over 20% of the global textile chemicals market. Despite the region's high labor and raw material costs, the U.S. has a booming fashion and garment sector. The country's overall number of fashion designer enterprises increased by about 5% year on year. Furthermore, the country has improved its clothes trade over the years, completing the year 2021 with US$ 85,007 million in export value, according to the U.S. Department of Commerce and OTEXA.

Dynamics

Growing Demand for Sustainable Products

Most textile and chemical companies are transitioning to green chemicals as a result of tight environmental regulations and a commitment to long-term objectives. In 2019, for example, Colorifix, a biological dyeing company, conducted new industrial-scale trials for biological dyes in partnership with textile makers such as Forster Rohner in Switzerland and Arvind in India.

In addition, Croda International Company introduced new 100% bio-based surfactants in 2018. Environmental regulations are strictly enforced in wealthy countries. Developing countries are likewise planning for the long term. As a result, the growing demand for green textile chemicals has the potential for expansion in both developing and established countries. Growing demand for sustainable products is expected to fuel the growth of the textile chemical industry.

Rising Demand from the Packaging Industry

The rise of e-commerce and the increase in online trading of various products has had a positive impact on the packaging sector, as seen by the apparent growth opportunities in the packaging machinery market. In accordance with the India Brand Equity Foundation, the government took initiatives to onboard weavers/artisans on the Government e-Marketplace (GeM), providing a larger market and enabling them to promote their products directly to different government agencies and organizations, to promote the handloom and handicrafts sector.

As of December 31, 2020, the GeM site had 171,167 registered weavers/artisans/handloom organizations. As textiles make up a large portion of packing material, the textile sector benefits from the increased demand for packaging items. Textile chemicals are used as colorants and finishing agents in these packaging materials, which is driving market expansion. Thus, the increase in demand for technological textiles will enhance the production rate, which will boost the textile industry's growth globally.

Environmental and Health Concerns

The textile chemicals business is subject to stringent environmental restrictions designed to reduce pollution and hazardous waste. About 10-15% of dyes are discharged into wastewater, leading to an unpleasant and highly colored appearance. Dyes containing basic chemicals like acetic acid, sulfuric acid, and others have the potential to contaminate land, air, and water. The textile industry's effluent is considered the most polluting of all industrial sectors.

Dye-containing wastewater absorbs light, interfering with photosynthesis in aquatic animals. It disturbs the water resource ecosystem. Furthermore, these harmful compounds are absorbed into the skin after prolonged contact with human skin and they can cause skin allergies and other dangerous conditions. If proper safeguards are not taken during textile manufacturing, these toxic chemicals can cause respiratory and skin diseases. As a result, these compounds are subject to severe regulations.

Segment Analysis

The global textile chemicals market is segmented based on type, application, and region.

Rising Demand in Every Stage of Fashion & Clothing Drives Segment Growth

Fashion & Clothing is expected to be the dominant segment with over 30% of the market during the forecast period 2024-2031. Consumers' exposure to the internet and e-commerce has expanded their fashion awareness and access to high-end brands and limited-edition products. The pressure to evolve from the segment improves the textile chemical market by increasing consumption.

Furthermore, clothing is a major export commodity in many countries. According to the International Labour Organization, developing nations produce more than 60% of global apparel exports, with Asia-Pacific making up 32% of the total. China, the largest apparel market in the Asia-Pacific, recorded a 17.35% increase in garment export shipments worth US$ 189.35 billion in the first seven months of 2022, according to the General Administration of Customs China.

Geographical Penetration

Presence of Matured Textile Industries in Asia-Pacific

Asia-Pacific is expected to be the dominant region in the global textile chemicals market covering over 35% of the market. China has the world's largest textile sector in terms of both output and export volume. China's textile sector expanded in the first nine months of 2022, according to the Ministry of Sector and Information Technology. The aggregate operational revenue of large textile firms in China increased by 3.1% year on year, reaching US$ 570 billion during that time.

In accordance with IBEF, the Indian textile and apparel sector is expected to reach US$ 190 billion by 2025-2026. India accounts for 4% of the global textile and clothing trade. In FY 2022, India's textile and apparel exports totaled US$ 44.4 billion, a 41% rise year over year. Thus, increased investments and improvements in the textile industry are expected to help textile chemical growth.

Competitive Landscape

The major global players in the market include AB Enzymes Organic Dyes and Pigments, Govi N.V., Resil Chemicals Pvt. Ltd., LANXESS, Dow, BASF SE, Huntsman International LLC, Kemira Oyj, and The Lubrizol Corporation.

COVID-19 Impact Analysis

Lockdowns and restrictions disrupted the production and transfer of raw materials required for textile chemicals, resulting in shortages and delays. Restrictions on movement and transit, port closures, and limited shipping capacity resulted in severe delays and increased prices for moving products. Many chemical manufacturing plants had temporary closures or decreased operations due to lockdowns, social distancing restrictions, and worker shortages.

Textile demand fell substantially as consumers reduced their expenditure on non-essential items and retail establishments closed. It had a direct impact on the need for textile chemicals. There was a shift in demand for personal protective equipment (PPE), masks, and medical textiles, which resulted in a brief spike in demand for particular textile chemicals. As more individuals stayed at home, there was an increased demand for home textiles like bedding, upholstery, and loungewear, which partly offset the fall in garment demand.

Russia-Ukraine War Impact

Ukraine and Russia are key raw material suppliers, including chemicals for the textile sector. The conflict has affected the supply of key commodities, resulting in shortages and higher pricing. The war has disrupted transportation lines such as road, rail, and sea, making it difficult to convey raw materials and finished products efficiently. Ports and shipping waterways have been impacted, resulting in delays and rising shipping prices.

Russia is a major exporter of oil & gas. The conflict caused global energy costs to rise, hurting the cost of producing textile chemicals, which require a lot of energy to create. Rising energy costs and supply chain interruptions have led to broader inflationary pressures, raising the overall cost of textile chemicals and affecting manufacturers' profit margins.

By Type
• Colorant & Auxiliaries
• Coating & Sizing Chemicals
• Finishing Agents
• Surfactants
• De-sizing Agents
• Bleaching Agents
• Others

By Application
• Home Furnishing
• Fashion & Clothing
• Industrial
• Automotive
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In April 2022, Cosmo Speciality Chemicals introduced the Wetofast series, an environmentally friendly option for maintaining fabric quality. The line includes three new models: Wetofast GN, Wetofast LOR, and Wetofast LD.
• In February 2021, Kemin Industries, a global ingredient maker, stated that its business unit, Garmon Chemicals, unveiled Kemzymes, a new spectrum of enzymes designed for garment washing.
• In November 2021, Fineotex Chemical opened a new factory in Ambernath, India. The new manufacturing base is a crucial step in boosting the company's competitive position at both the local and international levels.

Why Purchase the Report?
• To visualize the global textile chemicals market segmentation based on type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of textile chemicals market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global textile chemicals market report would provide approximately 54 tables, 48 figures, and 201 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies