Textile Chemicals Industry Trends and Opportunity

The global TextileChemicals Market size is projected to reach USD 32.23 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.5% during the forecast period. High demand from the rapidly growing apparel industry is anticipated to drive the growth.

Textile Chemicals

Home furnishing is anticipated to hold a significant market share in the application segment, in terms of volume during the forecast period. Growth in home furnishing industry coupled with an increased per capita spending in emerging economies is expected to have a positive impact on the market. The rising real estate industry and consumer spending on home renovation/decoration are expected to further drive the segment. Changing fashion trends and increasing inclination towards home furnishing and decor is also anticipated to boost the product penetration.

Europe exports over 30% of the textiles and clothing to the rest of the world. Textiles are major value-added products manufactured by the European countries. Clothing and accessories and knitwear accounted for a major share of the turnover in the clothing and textile production sector over the last few years. Presence of efficient distribution channels and standardization of chemicals and textile machinery has offered a robust environment for the textile chemical suppliers in the region.

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Further key findings from the report suggest:

• In terms of revenue, colorants and auxiliaries led the global textile chemicals market with a share of over 30% in 2018. The demand is driven by the increasing requirement for colored textiles and leather, coupled with rising demand for fashion garments
• Demand for technical textiles has increased significantly over the past few years on account of its growing application in various end-use industries, such as agriculture, healthcare, construction, packaging, automotive, and environmental protection
• China led the apparel segment for several years as the apparel manufacturers in developed countries such as U.S. and Canada have witnessed a declining trend with a global market share of over 35% in 2018
• Some major players having a significant stake in the textile chemical industry include Sumitomo Chemicals Co. Ltd.; The Lubrizol Corporation; Kiri Industries Limited; Evonik; Kemira; Tata Chemicals Ltd.; and Omnova Solutions Inc.

Grand View Research has segmented the global textile chemicals market on the basis of product, application, and region.

Textile Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Coating & Sizing Chemicals
• Colorants & Auxiliaries

o   Dispersants/Levelant

o   Fixative

o   UV Absorber

o   Other

• Finishing Agents

o   Repellent and Release

o   Flame Retardants

o   Antimicrobial or Anti-inflammatory

o   Other

• Surfactants

o   Wetting Agents

o   Detergents & Dispersing Agents

o   Emulsifying Agents

o   Lubricating Agents

• Desizing Agents
• Bleaching Agents
• Scouring Agents
• Yarn Lubricants

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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