Future Market Insights (FMI) is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Recently FMI reported on Asia Textile Chemical Market with a projection of market volume $11,626 Mn by 2020.
Rashadul Antu, Research Assistant
According to the market report by FMI, “The market for textile chemicals in Asia will exhibit a steady CAGR of 7.6% during 2014 to 2020. According to FMI’s in-depth analysis of textile chemicals market in Asia, the Asia textile chemicals market will reach US$ 11,626 Mn by 2020.
“The major players in textile industry across the globe are emphasizing on channelizing efforts towards ensuring sustainability throughout the value chain. As such, there is an ever increasing demand for Eco-friendly chemicals that minimize the amount of water and energy required in various stages of textile processing and are in compliance with regional and international regulations. Now it’s time for Eco-friendly and sustainable chemicals for textile processing. Manufacturers are coming ahead for R&D and developing environmental friendly textile processing chemicals.”
Textile chemicals are class of specialty chemicals and comprise chemicals and intermediates that are used in various stages of textile processing such as preparation, dyeing, printing and finishing. These are often used to enhance or impart desired properties and colour to the fabrics during the manufacturing process. FMI’s report analyses the Asia textile chemicals market in terms of market value (US$ Mn) on the basis of product types, end use applications and countries of Asia region.
Textile chemicals industry is highly fragmented and comprises large number of small and big players catering to the demands of textile manufacturers. Due to this fragmented nature, developing innovative and differentiated product offerings has emerged as a key to gain competitive advantage. Moreover, growth in demand for functional finishes has resulted in a steady growth of textile finishing chemicals that impart desired specific finishes to textile and apparels. The key market participants covered in the report include companies covered in the report are Huntsman Corporation, Archroma and DyStar group.