Press Release

Textile Chemicals Market to Grow at a CAGR of 5.85% through 2027

Major capacity addition in textile & apparel industry and recent growth in technical textile applications are prime factors driving the growth of Global Textile Chemicals market in the forecast period, 2023-2027.

According to TechSci Research report, Textile Chemicals Market - Global Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2017-2027, the Global Textile Chemicals market stood at USD16.44 million in 2021 and is projected to grow at a CAGR of 5.85% during the forecast period. Countries have major presence across the globe when it comes to the products that are derived from textiles. Immense growth in the usage of textile chemicals has been observed in the recent years due to surge in the consumption of textiles. With the discovery of new products that require textile chemicals as raw material, market has become diverse than ever and holds appealing opportunities in the future. It is plausible to deduce how applications across various domains in the textile industry could bring a breakthrough in the global textile chemicals market. Amongst the end use applications, governments across the world are investigating in the growth contribution from different end-use sectors and put their best step forward in framing policies that can enrich the growth of textile and apparel industry as apparel industry seems to be the growth engine driving the overall growth of the global textile chemicals market.  

COVID-19 pandemic has severely hit the global economy and sectoral trade by wider limits. Textile and apparel industry has suffered through the adverse ripple effects of the pandemic wave. Major disruptions in the supply chain due to long lockdown impositions worldwide left most market players distraught. Volatility in the raw material prices has remarkably impacted the production capacity. Operations in the global supply chain have been drastically distorted which led to temporary shutdown of factories that were operating at optimum capacities before the pandemic spread. Annual growth rate of companies operating in textile chemicals have touched an all-time low. Despite the restrictions that lasted for almost two years due to the pandemic, there are hopeful business prospects which are expected to provide a needed boost required to accelerate the economic growth of global textile chemicals market during the forecast period.

Browse over 102 market data Figures spread through 110 Pages and an in-depth TOC on "Global Textile Chemicals Market"

https://www.techsciresearch.com/report/textile-chemicals-market/11753.html

The global textile chemicals market is segmented into type, application, competitive landscape, and region.

Based on application, the market is divided into home textiles, technical textiles, apparels, and others. The home textile industry led the market with a market share of 32.83% in 2021. Demand in this industry is likely to go up as worldwide lockdown impositions have restricted the movement of people which has generated the scope for future potential in the textile industry during the forecast period. As a result of impressive growth in the home textile industry and opulent lifestyle of people, the textile chemicals market in the home textile is anticipated to witness a CAGR of 5.15% over 2023-2027.

Going through regional analysis, Asia Pacific region dominated the market and held a market share of 67.03% in 2021 and is expected to maintain its dominance through the next five years. Low labor cost coupled with abundant availability of raw material are the main reasons behind the dominance of APAC in the global textile chemicals market. China has outperformed all the budding manufacturers in the export trade with a trade share of 33% in the year 2021 and was the major textile and apparel exporter of manmade staple fiber, MMF (man-made fibers) spun yarn and MMF filament yarn. USA was the leading exporter of natural fibers while India was the largest exporter of natural spun yarn (mainly cotton based). Various flagship schemes have been formulated by the government with a motto to support establishment of textile hubs in the states.

Major market players operating in the Global Textile Chemicals market are :

  • BASF SE
  • Huntsman International LLC
  • Archroma
  • DyStar Colours Deutschland GmbH
  • Sumitomo Chemical Co., Ltd.
  • Kiri Industries Ltd.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=11753

Customers can also request for 10% free customization on this report.

“The growing demand for home textile applications and consistent development in the modern technologies required in the manufacturing process of textile chemicals to fulfil the consumer needs drive the industrial development across the globe. Increasing average growth rate of population along with the objective to increase the capacity addition in several textile pre-processing segments is likely to impact the growth of textile chemicals. New partnerships amongst market players are expected to bring market opportunities especially in textile and apparel sector which can potentially create jobs and spur further industrialization”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Textile Chemicals Market - Global Industry Size, Share, Trends, Competition, Forecast and Opportunities, 2017-2027, Segmented By Type (Auxiliaries, Colorants and Others), By Application (Home Textile, Technical Textile, Apparels and Others), By Region”, has evaluated the future growth potential of global textile chemicals market and provides statistics & 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 decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global textile chemicals market.


Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

 

Email: [email protected]

 

Web:  https://www.techsciresearch.com

Relevant Reports

Textile Chemicals Market - Global Industry Size, Share, Trends, Competition, Forecast and Opportunities, 2017-2027 Segmented By Type (Colorants, Auxiliaries and Others), By Application (Technical Textiles, Home Textiles, Apparels and Others), By Region

Chemicals | Sep, 2022

Major capacity addition in textile & apparel industry and recent growth in technical textile applications are prime factors driving the growth in global textile chemicals market during the forecast period, 2023-2027.

Relevant News