Global Textile Chemicals Market Size to Reach USD 38.66 Billion in
The global textile chemicals market size is expected to reach USD 38.66 Billion in 2030 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. The key factors driving global textile chemicals market revenue growth are rising global population and increasing demand for apparel in various textures and designs. Global apparel sales are also being influenced positively by rising influence of social media and significant shift in consumer preference for foreign textile brands. Moreover, green or bio-based chemicals, which are made from renewable resources, are providing market players with lucrative growth opportunities as these green chemicals are non-flammable and biodegradable with low toxicity. In addition, a surge in demand for textile chemicals used in the production of automobile fabrics such as headliners, seat belts, and seat fabric is fueling demand for textile chemicals.
Textile chemicals play an important role in textile manufacturing process right from fiber pre-treatment to textile finishing. Textile chemicals serve a variety of functions in determining the efficiency of textile manufacturing as well as the quality of finished goods. Continuous research and development in the field of technical textiles has expanded their application in the construction, agricultural, medical, industrial, environmental, electrical, and electronic industries, and this in turn, is boosting demand for the product in textile manufacturing.
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Companies profiled in the market report are Dow Inc., BASF SE, Wacker Chemie AG, Huntsman Corporation, Evonik Industries AG, Archroma, Solvay S.A., TANATEX Chemicals India Pvt. Ltd., DIC Corporation, and OMNOVA Solutions Inc.
Some Key Highlights from the Report
- Synthetic fiber segment is expected to register a considerable revenue growth rate over the forecast period. Synthetic fibers are artificial fibers made from chemicals that have superior chemical and physical properties such as lightweight, high durability, flexibility, and wrinkle resistance. Synthetic fibers include polyester, polymer nylon, acrylic, olefin, and modacrylic.
- Colorant & auxiliaries segment accounted for largest revenue share in 2020. Dyeing auxiliaries are used for washing and dyeing yarns and fabrics. These chemicals are being used to prepare and modify the substrate for coloration, as well as to stabilize the application medium, to increase dyeing’s fastness properties. Dispersing agents, peroxide killers, sequestering agents, antifoaming, and anti-pilling agents are all important auxiliaries. Dyes and pigments are examples of textile colorants. Textile colorants are used to color fabric to provide the desired aesthetic appeal.
- Apparel segment is expected to register a significant revenue growth rate over the forecast period. Apparel segment includes products such as t-shirts, shirts, jackets, suits, skirts, trousers, shorts, kids’ wear, and swimwear among others. The apparel industry is a fast-paced industry that is influenced by shifting consumer preferences. Apparel producers are more focused on enhancing product quality by using textile chemicals in order to survive in a highly competitive environment.
- Market in Asia Pacific is expected to register the highest revenue CAGR in global textile chemicals market during the forecast period. Rapid industrialization, improving economic conditions, availability of cheap labor, and supportive government policies, combined with growing population and changing lifestyles in the region, are driving the textile industry, which is expected to fuel demand for textile chemicals in this region.
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For the purpose of this report, Reports and Data has segmented global textile chemicals market based on fiber type, product type, application, and region:
Fiber Type Outlook (Revenue, USD Billion; 2018-2030)
- Natural Fiber
- Synthetic Fiber
Product Type Outlook (Revenue, USD Billion; 2018-2030)
- Coating & Sizing Agents
- Colorant & Auxiliaries
- Finishing Agents
- Desizing Agents
- Bleaching Agents
Application Outlook (Revenue, USD Billion; 2018-2030)
- Home Furnishing Textiles
- Technical Textiles
- Industrial Textiles
Regional Outlook (Revenue, USD Billion; 2018-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of MEA
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