Textile Chemicals Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Textile Chemicals Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Textile Chemicals Market

The textile chemicals market size was valued at USD 20.67 billion in 2019, and the market is now projected to be USD 26.97 billion by 2027, exhibiting a CAGR of 3.5% during the forecast period of 2024-2032.

The COVID-19 pandemic created significant barriers on the textile chemicals market growth. The growth-rate declined because of the reduction in demand for the product. The pandemic has exaggerated business as well as the manufacturing industries. The lack of the resources and restriction in the transportation system had halted production units. The components cost of the construction project and shortage of workers due to the lockdown has hindered the market growth.

The textile chemicals market share globally has been amplified due to the rising awareness regarding the benefits of textile chemistry. It is a extremely specialized field as it applies the principle of chemistry. This is divided into dyeing and finishing fiber and polymers. The increasing demand from customers for enhanced quality and functionality are becoming pivotal elements in the apparel industry. These chemicals are capable of widening the scope of the product. The multiple functions of these chemicals are offering efficiency and quality finished items are propelling the market growth.

The market trend is the adoption of sustainable products in textile manufacturing in boosting the market growth. The strict environmental regulations for sustainable goals are shifting their inclination towards the green chemicals. Hence, they are attracting the many companies to utilize these products to enhance the market growth.

Comprehensive Analysis of Textile Chemicals Market

The textile chemicals market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional evaluation considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated by product type, and application. The product types include coating & sizing chemicals, colorant & auxiliaries, finishing agents, surfactants, desizing agents, and others. However, the applications are such as home furnishing, apparel and technical textiles.

The Asia Pacific region is conducive to the global textile chemicals market, leading to a recall of USD 14.08 billion due to the existence of major textile manufacturers and bulk availability of raw materials along with low-cost labors are propelling the market growth.

The top players in the market play a critical role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include Archroma (Switzerland), Huntsman Corporation (USA), Rudolf GmbH (Germany), DIC Corporation (Japan), Kiri Industries Ltd. (India), Covestro AG (Germany), Omnova Solutions Inc. (USA), Lubrizol Corporation (USA), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Tanatext Chemicals (Netherlands), NICCA Chemical Co. Ltd. (Japan), Kemin Industries Inc. (USA), JINTEX Ltd. (Taiwan), and Sarex Chemicals (India), these market players provide a level-playing competitive landscape.

In June 2019, Croda International signed a commercial agreement with Microban. Through this contract, it offered its antimicrobial and odor control technologies in India and the Indonesian market. The product consists of Microban’s Scentry, AEGIS, Scentry Revive, and SilverShield. The aim of this agreement, both companies are looking to explore new opportunities in the textile industry.

Global Textile Chemicals Market Scope

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD Billion) Volume (Kilo Tons)

By Product Type

Coating & Sizing Chemicals

Colorant & Auxiliaries

Finishing Agents

Surfactants

De-sizing Agents

Others

By Application

Apparel

Home Furnishing

Technical Textiles

By Region

North America (U.S. and Canada)

Europe (Germany, UK, France, Italy and Rest of Europe)

Asia Pacific (China, India, South Korea, ASEAN and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East& Africa (Middle East and Africa)


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