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Textile Chemicals Market Estimated to Expand at a CAGR of 3.2% during 2016 to 2023

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textile-chemicalsAccording to MRFR analysis, the Global Textile Chemicals Market size was estimated at USD 9.80 Million in 2016, the market will expand at CAGR of over 3.2% through 2022. Global apparel industry is expected to drive the market over the forecasted period. Increasing demand for technical textile across numerous end-use applications is also expected to be beneficial for the overall market growth.

Good qualities are used into technical textile products as compared to their conventional counterparts. Demand for technical apparel is increasing in the U.S. amongst end-use industries such as home furnishings, apparel, industrial textiles, technical textiles the demand for specialty chemicals required for is production has also enlarged.

The products comprise wetting agents, emulsifiers, dispersants, detergents, chelating agents, and biocide active ingredients. Growing environment concern regarding the adverse effects of these chemicals may emerge as a major barrier to the overall market development. Contaminated water and water shortages caused by an intensive fabric industry may have extensive local consequences in the manufacturing countries. Stringent environmental regulation such as Integrated Pollution Prevention and Control (IPPC) along with Emission Trading System (ETS) and regulation on registration, evaluation, authorization and restriction of chemicals is expected to hinder growth.

Technological improvement coupled with growing clothing demand is allowing manufacturers to offer exceptional marketing points such as stain-resistance, wrinkle-resistance, soft finish and antimicrobial properties to provide enhanced performance and comfort to customers. Moreover, increasing consumer spending towards high quality products especially in Canada and Mexico is anticipated to positively influence the industry over the forecast period.

Textile chemicals have the ability to make fabric versatile, stronger, and enhanced their original characteristics. The U.S. textile chemicals industry is driven by the development of technical fabrics, presence of multinational companies and continuous R&D to discover novel textile products. High adoption of advanced technologies and increasing number of manufacturing lines to support the growing clothing demand are some of the factors boosting the industry growth in the region.

Key Players:

Key Companies in the Textile Chemicals Industry include BASF SE, Zydus Pharmaceuticals Ltd., Medicamen Biotech Ltd., Jiangxi Tianxin Pharmaceutical Co. Ltd., and Koninklijke DSM N.V. among others. BASF SE, Bayer AG, Dow Chemical Company, Huntsman International LLC, Sumitomo Chemicals Co., Ltd., AkzoNobel, Arkema, Kiri Industries, Lubrizol, Omnova Solutions, Pulcra Chemicals, and Sumitomo Chemical.

Regional Analysis:

Asia Pacific region is expected to maintain its dominance in the global market. Emerging markets of China, japan and India are expected to boost the Asia Pacific Textile Chemicals market. Other emerging markets are North America, Europe and the Middle East countries. Asia Pacific has the largest market share for global Textile Chemicals, followed by Europe and Row.

Segmentation:

The Global Textile Chemicals Market is majorly segmented on the basis of Type and Application.

  • Based on the Type, the market is segmented into pre-treatment chemicals, furnishing chemicals, colorants, coating chemicals, dyeing & printing chemicals.
  • Based on the Application, the market is segmented into home furnishings, apparel, industrial textiles, and technical textiles.

Source: Market Research Future (MRFR)

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