Global Textile Chemicals market anticipated to reach USD 39 Billion by 2026 and is growing at 5.5% CAGR from 2020 to 2026.
NEW YORK, UNITED STATES, February 10, 2020 /EINPresswire.com/ — Facts and Factors has authored “Textile Chemicals Market By Fiber Type (Natural Fiber, Synthetic Fiber), Product Type (Coating & Sizing Agents, Colorant & Auxiliaries, Finishing Agents, Surfactants, Desizing Agents, Bleaching Agents, Others) and By Application (Apparels, Home Textile, Technical Textile, Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026”.
According to the research report, the global Textile Chemicals market in 2019 is approximately USD 27 Billion and is anticipated to reach around USD 39 Billion by 2026. The anticipated CAGR for the Textile Chemicals market is around 5.5% from 2020 to 2026.
The huge production of apparel and the rising demand for floor coverings, technical textiles and home furnishings globally has led to a huge demand for textile chemicals. During the fabric processing, textile chemicals are used to give features such as wrinkle resistance, sweat absorbency, stain resistance, texture, antimicrobial properties, and finish to the fabrics. Textile chemicals such as finishing chemicals have applications in the textile industry for tasks such as dyeing, finishing, and coloring.
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The growing industrialization in countries like India and China has given the textile chemical industry a huge impetus. Increasing demand for apparel across the world is one of the driving factors for the textile chemicals industry. Also, the growing demand for technical textiles globally is the driving factor behind the textile chemicals industry. But, stringent environmental regulations regarding the disposal of textile effluents are pulling back the textile chemicals market. Some recent developments in the textile chemicals market portray growing opportunities in the textile chemicals market. Huntsman Textile Effects, in 2017, introduced a new product called PHOBOTEX RSY which has water repellant properties and is non-fluorinated. Technological developments in the field of textile manufacturing prove to be a great opportunity for the textile chemicals market.
The textile chemicals market is segmented broadly into fiber type, product type, and application type segments. In the fiber type segment, it is anticipated that the synthetic fiber category to have the largest market share of 67% by revenue. In the product type segment, it is anticipated that the coating and sizing agents category to have the largest market share of 30% by revenue. Similarly, in the application segment, the apparels category to have the largest market share of 45% by revenue. Increasing disposable income globally and growing population has resulted in the demand for apparel, especially sportswear and casualwear. The technical textile segment has witnessed a significant growth rate in the last few years and is expected to grow at a steady rate over the forecast years.
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Key Recommendations from Analysts
1) As per our analysts, the major application of textile chemicals is anticipated to be the manufacturing of apparels
2) The growing demand for apparels globally is boosting the textile chemicals market
3) The growing industrialization in countries like India and China has given the textile chemical industry a huge impetus.
4) Thriving growth of the apparel industry on account of implementing innovative strategies by textile chemical manufacturers with significant support from the government has led to the prominent development of the textile chemical market in the Middle East and Africa region
5) Stringent environmental regulations regarding the disposal of textile effluents are pulling back the textile chemicals market
The Asia Pacific is expected to account for one of the largest shares of the technical textile market over the forecast years. The growth of the technical textile demand in emerging countries such as China and India can be attributed to rapid urbanization and increased disposable incomes. Thriving growth of the apparel industry on account of implementing innovative strategies by textile chemical manufacturers with significant support from the government has led to the prominent development of the textile chemical market in the Middle East and Africa region.
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The major market players of the Textile Chemicals market are, Rudolf GmbH, Tanatex Chemicals, DyStar Textilfarben GmbH & Co. Deutschland KG, Wacker Chemie AG, Huntsman Corporation, The Dow Chemical Company, BASF SE, Covestro AG, TORAY INDUSTRIES, INC. and Evonik Corporation
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This report segments the Textile Chemicals market as follows:
Global Textile Chemicals Market: By Fiber Type Segment Analysis
Global Textile Chemicals Market: By Product Type Segment Analysis
Coating & Sizing Agents
Colorant & Auxiliaries
Global Textile Chemicals Market: By Application Type Segment Analysis
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