Textile Chemicals Market: An Overview
The Global Textile Chemicals Market size is forecast to reach USD 38.15 Billion by 2027, suggests a new report by Reports and Data. Textile chemicals are used in the textile industry for a number of purposes, such as coloring, dyeing, and finishing. These chemicals are widely applied in various segments of the textile sector that include home furnishing, industrial, and others. Owing to the changing trends in fashion technology, coupled with the growth of the apparel sector of the textile industry, the critical application of textile chemicals has occurred in the apparel industry. The textile chemicals market is driven by the rising demand for home furnishing products, the demand for environmentally friendly chemicals, and the development of packaging industries, which use large amounts of textile chemicals.
Textile Chemicals Market Dynamics
The application of textile in the medical field requires a number of properties of the textile chemicals fiber, depending upon where exactly this material is used. The various aspects include the nontoxicity of the material, the ability to sterilize and conform to requirements of the mechanical properties, and bio-compatibility, among others.
The textile chemicals market is witnessing an increasing demand from sports and activewear sectors as well, owing to the use of antimicrobial finishes for manufacturing such products. Textile chemicals help prevent bacterial infection odor caused by the sweat trapped in clothing such as socks, undergarments, T-shirts, and other sports apparel.
Such factors create considerable opportunities for market growth, while factors such as unfavorable effects of textile chemicals pose limitations in the market. Regular advancements due to innovation efforts have enhanced the efficacy of textile chemicals.
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Textile Chemicals Market: Regional Outlook
Asia Pacific is forecasted to grow with the highest CAGR of 5.1% during the forecast period. Countries like India, China, and Japan are countries that are rapidly expanding their field of textile chemicals market. Strict environmental regulations have prompted textile chemicals production and consumption to shift from North America to Asia.
Europe is forecasted to grow with a CAGR of 4.7% during the forecast period. The EU has launched an integrated Pollution Prevention and Control Directive to restrict the use of harmful chemicals, and this might negatively affect the textile chemicals market’s growth in the region.
North America held the largest market share of around 36.5% in the year 2019. The demand for technical textiles is growing quickly, owing to their usage in a broad range of applications, including manufacturing, medical, a factor that will augment the market growth.
Textile Chemicals Market: Key Players
- Tanatex Chemicals
- Dystar Group, Rudolf Group
- Akzonobel N.V.
- Bozetto Group
- Evonik Industries
COVID-19 Impact on Textile Chemicals Market:
The COVID-19 pandemic has made lockdowns necessary in many countries across the globe. This has brought the operations of many industries to a halt. The textile chemicals market has taken a major hit in this scenario as consumer demand for non-essential products has dropped, and this has led to a decline in the demand for the product. Major manufacturers in the market have also halted operations currently, which has led to a reduction in the supply. It is expected that when the COVID-19 pandemic is over, and normal operations resume, the industries will start operating again, and the demand for the product will rise. Major manufacturers, who have currently halted operations due to the pandemic, are involved in innovations of textile chemicals. This has for now slowed down the overall market but would help them capture a larger market share in the future. This will also create a greater overall market size.
- Detailed overview of the parent market
- Changing textile chemicals market dynamics
- In-depth textile chemicals market segmentation
- Historical, present, and projected textile chemicals market size in terms of volume and value
- Recent textile chemicals market trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Segments, sub-segments, and geographical regions exhibiting promising growth
- A neutral perspective on textile chemicals market performance
Textile Chemicals Market: Segmentation
This report forecasts revenue growth at global, regional, and country levels to provide an analysis of market trends in each segment and sub-segment from 2017 to 2027. For the purpose of this report, Reports and Data has segmented the Global Textile Chemicals market on the basis of fiber type, product type, application, and region:
Fiber Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Natural Fibre
- Synthetic Fibre
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Coating & Sizing Agents
- Colorant & Auxiliaries
- Finishing Agents
- Desizing Agents
- Bleaching Agents
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Home Textile
- Technical Textile
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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