Textile chemicals are intermediate compounds utilized for improving and optimizing fabric processing or for manufacturing processes. These chemicals include dyes, printing agents, stabilizers, surfactants, reducers, equipment cleaners, leather tanning, bleaching agents, detergents, softeners, wetting agents, oxidizers, UV absorbers, flame retardants, colorants, brightening agents, antistatic agents, and many more.
Growing at a CAGR of 3.4% from 2016 to 2022, the global textile chemical market is expected to reach $27,560 million by 2022, from $21,770 million in 2015. The demand for textile chemicals is increasing due to technological advancement in mechanized-produced textiles, to fulfill the clothing demands of increase in population and providing effective quality and durability of textile materials.
The textile chemical products are employed in clothing industries, agriculture, packaging, environmental protection, and transportation sectors. Rise in demand for textile chemical market has reduced the domestic textile industries and workshops.
The major factor that drives the market is developing apparel industries for increasing consumer demands. The other factors that fuel the market are rise in demand for home furnishing, agricultural activities, floor furnishings, technical textiles, and environmental friendly products.
Apart from this, the rise of packaging industry will drive the growth of the market in the upcoming future. However, the growth of the market is mainly restrained by unfavorable effects of chemicals on environment, thus harming biotic and abiotic components of environment.
Textile chemicals are mostly discharged into local water bodies leading to water pollution and water shortage. In addition, strict regulatory norms also hamper the growth of the textile chemical market.
Familiarization with innovative ideas of anti-microbial, stain resistant, and luxurious clothing is a promising opportunity for textile chemicals market. In addition, the development of high‐valued textiles approved by government will encourage usage of expensive textile chemicals, thus influencing the textile chemicals market values.
An increased awareness of sterilized textiles add to other opportunities for the players operating in the market.
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The global textile market is segmented based on the product type, application, and geography. Based on product type, the market is divided into coating and sizing chemicals, finishing agents, colorants and auxiliaries, surfactants, desizing agents, yarn lubricants, and bleaching agents.
The coating and sizing segment holds the largest market share in the global textile chemicals market. On the basis of application, the market is categorized as home furnishing, apparels, and industrial chemicals.
Amongst all applications, the home furnishing segment holds a major share in the textile chemicals market. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Recent advancement in the industry includes acquisition of Cordtech International in 2016, by the Porcher industries Groupe, a French technical textile and composites manufacturer. Cordtech International focusses in the processing and treatment of industrial fibers for the automotive industry.
This acquisition will lead to strong portfolio for Porcher with existing technical, sales and R&D synergies between the two companies.
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends in the global textile chemical market, in terms of revenue and volume.
- In-depth analysis is done by constructing market estimations for the key segments between 2014 and 2022, which assists identify the prevailing market opportunities.
- Comprehensive analysis of all regions is provided that determines the prevailing opportunities in these geographies.
- This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
KEY MARKET SEGMENTATION
By Product Type
- Coating & Sizing Chemicals
- Finishing Agents
- Colorants & Auxiliaries
- Desizing Agents
- Yarn Lubricants
- Home Furnishing
- Industrial & Others
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