Textile chemicals market size to reach $ 35.4 billion by 2027
OTTAWA, June 30, 2021 (GLOBE NEWSWIRE) – Textile chemicals are chemicals that are used in the dyeing and processing of textiles to achieve desired properties such as color, strength, etc. Textile chemicals are used to treat textile materials at various stages of manufacture, from fiber pre-treatment to textile finishing. Textile chemistry is a highly specialized field as it applies the principles of chemistry to different levels of textile and clothing manufacturing. Textile chemicals are bleaches, dyes, surfactants, finishing agents, desizing and sizing agents, and yarn lubricants. These are used during the process of weaving yarns at different stages to provide strength and an attractive characteristic to the garment or textile. With the technological advancements in the textile manufacturing process, industry players have introduced smart textiles that offer dynamic functionality. Additionally, in some industries such as defense and military, clothing is designed with built-in chips, sensors and other advanced features.
The Covid-19 epidemic is having a significant impact on the growth of the market. The year-over-year growth rate is expected to decrease for these years compared to historical years due to the decline in textile production. Hence, the market is expected to grow at a lower CAGR during this year.
Get the sample report pages for more understanding @ https://www.precedenceresearch.com/sample/1029
The major factors driving the growth of the market include the increasing demand for industrial garments and fabrics on a global scale. Clothing is one of the oldest and most important export industries in the world. Clothing is often the typical start-up industry for countries engaged in export-oriented markets, due to its low fixed costs and emphasis on labor-intensive manufacturing. The rapid growth of the clothing industry gives prominence to the textile chemicals market. To explore more market opportunities, market players are collaborating with stakeholders in the garment industry value chain. In addition, a paradigm shift in sustainable and responsible manufacturing has changed the market trend for types of textile chemicals. Currently, green and environmentally friendly textile chemicals are the most preferred chemicals in the market. In addition, public awareness has also triggered the use of non-toxic and green dyes and dyes to stay safe from skin allergies and other illnesses.
However, governments in various regions have imposed strict regulations for the application of harmful chemicals such as bleach, VOCs, and formaldehyde in the manufacturing process of textile chemicals. This is largely attributed to the health problems of industrial workers who are exposed to these chemicals, as some of them are highly toxic in nature. Therefore, manufacturers must develop a sustainable solution for manufacturing textiles while paying increased attention to cost-effective functionality.
View the full report with Complete ToC @ https://www.precedenceresearch.com/textile-chemicals-market
In 2020, Asia-Pacific dominated the global textile chemicals market with a magnificent revenue share. Low production and labor costs supported by new technologies have resulted in rapid growth of the region. China is the world’s largest producer and consumer of textile chemicals. It exports most of its products to North America and Europe. In addition to this, India, Bangladesh, Vietnam and Indonesia are among the other major textile producing countries in the Asian region. For example, garment and garment export activities in Bangladesh tripled between 2008 and 2018. In addition, the textile industry contributes around 13% of the country’s GDP. According to the Bangladesh Textile Mills Association (BTMA), the total number of spinning mills in Bangladesh increased from 260 to 430 between 2006 and 2018.
However, Europe and North America forecast lucrative growth during the forecast period. The growing demand for technical textiles in the regions is the key factor driving the growth of the market. Technically advanced regions adapt new technologies easily and mainly than other regions. Therefore, the disruption of the automotive industry as well as other industries such as fashion, manufacturing and others are significantly driving the demand for textile chemicals in the region.
Get personalization on this research report @ https://www.precedenceresearch.com/customization/1029
Highlights of the report
- Asia-Pacific dominated the global textile chemicals market with a significant revenue share in 2010 due to large population and exponential growth in the garment industry. In addition, the increase in sales of passenger and utility vehicles in the region again contributes significantly to the positive growth of industrial textiles in the region.
- Europe and North America are the most opportunistic regions in the global textile chemicals market. The main factors responsible for their exponential growth are the significant growth of the automotive industry coupled with technological advancements in industrial garments and fabrics. The regions are the main importers of textile chemicals from China.
- By product, the Coating and Sizing Chemicals segment has gained the maximum revenue share in the global Textile Chemicals market in 2020. Coating and Sizing provides strength and abrasion resistance during the weaving of the thread. However, dyes and dyes are expected to grow with the highest CAGR due to the increasing preference for dyes and non-toxic dyes.
- In 2020, the apparel segment dominated the global textile chemicals market and is expected to continue to dominate during the forecast period. Increase investments by clothing manufacturers to attract as many unique selling points as possible for their products. In addition to this, the technical textile offers a lucrative growth opportunity during the forecast period. The main factor behind this is the introduction of smart textiles for dynamic functionality.
Browse more chemical and materials industry research reports @ https://www.precedenceresearch.com/industry/chemical-and-material
Key players and strategies
The global textile chemicals market is consolidated with fewer players present in the market. These are mainly large players who focus on the development and customization of new products. In addition, growing public awareness and water resources have compelled industry participants to develop sustainable manufacturing processes. For example, Colorifix, a UK-based company, developed a sustainable dye using synthetic biology. Likewise, other players are also focusing on a sustainable solution for textile manufacturing due to strict government regulations related to environmental protection.
Some of the major players operating in the market are Archroma, Lonsen Inc., Evonik Industries AG, Huntsman, Solvay and CHT Group among others.
By product Perspectives
- Dyes and dyes
- Basic dyes
- Acid dyes
- Direct dyes
- Reactive dyes
- Disperse the dyes
- Tank dyes
- Sulfur dyes
- Others (azo dyes and biting dyes)
- Coating and Sizing Chemicals
- Wetting agents
- Others (adhesives, softening agents and antimicrobial agents)
- Finishing agents
- Desizing agents
- Lubricants for wires
- Bleaching agents
- Others (leveling agents, scouring agents and fixing agents)
By Outlook Application
- Technical textiles
- Others (Clothtech, including Buildtech and Hometech)
- Upholstery textiles
- Carpets and rugs
- Industrial textiles
By regional perspectives
- North America
- Asia Pacific
- South Korea
- Rest of the world
Purchase this Premium Research Report @ https://www.precedenceresearch.com/checkout/1029
You can place an order or ask any question, please feel free to contact us at [email protected] | +1 9197 992 333
Precedence Research is a global market research and consulting organization. We provide an unmatched nature of offering to our customers around the world in industry verticals. Precedence Research has expertise in providing in-depth market intelligence as well as market intelligence to our clients across various companies. We are obliged to serve our various clienteles present in companies of medical services, health, innovation, new generation technologies, semiconductors, chemicals, automotive, aerospace and of defense, among various companies present in the world.
For the latest update, follow us: