Vietnam Textile Chemicals Market to Grow at 16% during 2016 – 2025
Booming
garment & textile industry, favorable trade policies & agreements and
growing industrialization to drive Vietnam textile chemicals market through
2025
According to TechSci Research
report, “Vietnam Textile Chemicals Market By Product Type, By End Use Application, Competition Forecast and Opportunities, 2011 – 2025”, the textile chemicals market in Vietnam is
anticipated to grow at a CAGR of over 16% during 2016 – 2025, on account of higher
living standards of consumers and growing demand for fine fabric items coupled
with increasing number of industrial set-ups. Moreover, growing inclination of
consumers towards new and brighter shades demand from beige and off-white
shades is expected to positively influence the Vietnam textile chemicals market.
Browse 12
market data Tables and 32 Figures spread through 101 Pages and an
in-depth TOC on "Vietnam
Textile Chemicals Market"
https://www.techsciresearch.com/report/vietnam-textile-chemicals-market-by-product-type-auxiliaries-and-colorants-by-application-apparel-home-furnishing-and-technical-textiles-by-region-competition-forecast-opportunities-2011-2025/785.html
The Government of Vietnam is increasingly taking steps
and measures towards economic integration, trade liberalization and improving
industrialization in the country. For instance, on account of signing
Vietnam–Korea Free Trade Agreement (VKFTA) in 2014 and EU–Vietnam Free Trade
Agreement in 2015, the country is witnessing enormous textile exports as a
result of reduced import duties. Moreover, with nearing implementation of
Trans-Pacific Partnership (TPP) agreement, the country is expected to increase
Vietnam’s garment and textile exports to the US to nearly USD30 billion by
2020, as compared with USD8.6 billion exports recorded in 2013, showcasing
magnificent growth of roughly 250%. Favourable trade environment of the country
is expected to aid the growth of Vietnam textile chemicals market over the span
of next five years.
Technical
Textiles segment is the fastest growing end use application of textile
chemicals in Vietnam on account of strong emphasis on utilization of industrial
and smart fabrics in textile factories by the government as well as foreign
investors. South region of
Vietnam accounted for the largest share in the country’s textile chemicals
market in 2015. South region has 114 industrial parks built along the banks of
the Dong Nai river. Tan Thuan export processing zone, Tan Tao industrial zone,
Tan Thoi Hiep industrial zone and Vinh loc industrial zone are some of the major
industrial zones found to be marked with textile clusters in the southern part
of Vietnam.
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“Vietnam is
exhibiting huge export potential for textile & garments owing to the
reduced trade barriers and easy availability of educated and skilled labour in
the country. As a result, various textile & garment manufacturers are
looking forward to set up textile production pants and factories in Vietnam. The country is taking steps
to reduce the dependency of textile industry on foreign nations for raw
materials. Consequently, several textile chemical companies are planning to
expand their production base in Vietnam as an effort to increase consumption of
textile specialties in the country’s growing textile & apparel industry.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Vietnam
Textile Chemicals Market By Product Type, By End Use Application, Competition
Forecast and Opportunities, 2011 – 2025” has evaluated the future growth
potential of Vietnam textile chemicals market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyses the
emerging trends along with essential drivers, challenges and opportunities in Vietnam
textile chemicals market.
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