Textile Chemicals Market [By Product Type (Surfactants, Colorants, Finishing Agents, Desizing Agents, Bleaching Agents and Others); By Application (Automotive Fabric, Apparel, Technical Textiles, Home Furnishing and Others); By Regions]: Market size & Forecast, 2017 – 2026
- Published Date:Mar-2018
- Pages: 101
- Format: PDF
- Report ID: PM1136
- Base Year: 2017
- Historical Data: 2015-2016
Report Summary
The worldwide textile chemicals market is anticipated to grow at a CAGR of 4.1% between 2018 and 2026. The use of chemicals in textiles has grown to be a highly specialized sector and applies the use of a huge variety of chemistries including both organic and inorganic to offer aesthetics and functional qualities to textiles. Advancements in chemistries formulations for customized use in textile manufacturing have been significantly high during the past decade and is expected to increase further over the next eight years. Interaction between material science and textile chemistry has increased tremendously owing to tremendous and tedious developments in textile manufacturing technologies. Factors that are boosting the growth of the textile chemicals market include the increasing level of personal income mainly in the developing as well as the developed countries that have promoted production of textiles that are used in upholstery, apparel, floor coverings and household furnishings.
The growing production along with consumption of the textile articles has increased the use of chemicals as additional raw materials. Wide variety and quantities of different chemicals are used for textile production. From processing of several types of fibers and raw materials to final touch of finished textile chemicals play the vital role in adding functional qualities to textiles. In the present industry scenario, higher attention has been paid to the chemicals that are used in the textiles and its exposure to the textile industry personnel and its environmental effects. Novel technologies have played a primary role in maintaining a steady growth of these products with respect to stringent regulations on safety, health and the environment. The most recent trend among of the novel products include the wet processing chemicals, which helps in efficiently cutting down of cost for production of these products.
Segment Analysis
The global textile chemicals market is segmented into types of products, application and region. The product types are further segmented into surfactants, colorants, finishing agents, desizing agents, bleaching agents and others, Application segment has been further segmented into automotive fabric, apparel, technical textiles, home furnishing and others. Colorants along with auxiliaries wee the largest product segments in terms of consumption globally. The finishing agents segment is expected to eventually turn out to be the fastest growing product type during the forecast period. This is owing to the fact that these add to the functional, physical and aesthetics to textiles.
Increasing demand for technical textiles from several end-use industries has been the major factor for the rapid development of the application segment of the textile chemicals market and this has eventually positively influenced the demand for these components. Automotive fabric is however expected to be yet another potential application segment which is projected to attain significant growth over the forecast period.
Regional Analysis
Asia Pacific was the largest region for the textile chemicals market in 2017. India and China recorded for the highest consumption of technical textiles in the region. China has been the largest single consumer worldwide for the past five years. India is also expected to be a strong contender in the regional market in terms of demand and will be the second largest market in terms of volume these products consumed. Japan is however expected to experience surge in demand only by the end of 2020 as the country’s industry has entered a maturity age and needs an immediate revamp. The Europe and North American markets are also expected to come across several drawbacks compared to the emerging Asian market. Capacity rationalization and industry maturity are some of the recent vital drawbacks for the companies in North America and Europe. However, existing industry demand from the region’s vast textile manufacturing industry is prominent enough to keep them as one of the leading global markets.
Competitive Analysis
Some of the leading industry participants actively operating in the textile chemicals market include Archroma, The DyStar Group, The Lubrizol Corporation, Lonsen Inc., The Dow Chemical Company, Kiri Industries Limited, Solvay SA, OMNOVA Solutions Inc., Covestro AG and Pulcra Chemicals GmbH.
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