The textile chemicals market
encompasses various chemicals such as colorants and auxiliaries that are used
during the textile manufacturing processes. Textile chemicals play a crucial
role in enhancing the physical properties and quality of textiles. They
increase the durability and lifespan of textiles while also improving their
functionality and feel. With the surging demand for cotton, polyester, nylon,
and other synthetic fabrics from apparel, home furnishing, and other industrial
applications, the consumption of textile chemicals has increased significantly.
The
global textile chemicals market is estimated to be valued at US$ 32.64 Bn in
2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 to
2031.
Key Takeaways
Key players operating in the textile chemicals are Cisco System Inc., Schneider
Electric, Wipro Consumer Lighting, Avnet Inc., Crestron Electronic Inc.,
Honeywell International Inc., Inventronics Inc., Philips Lighting Holding
B.V.(Signify Holding), Legrand, Jaquar India. These players are focusing on
adopting strategies such as new product launches, mergers, acquisitions, and
collaborations to expand their market share.
The key opportunities in the textile chemicals market include rising demand for
eco-friendly textile chemicals from producers and consumers. Stringent
regulations regarding toxicity and restricted use of hazardous chemicals are
also prompting manufacturers to invest in bio-based and sustainable textile
chemical solutions.
Globally, the Textile
Chemicals Market Trends is expected to witness high growth in Asia
Pacific owing to increasing textile production activities in countries such as
China, India, Bangladesh, Pakistan, and Indonesia. Europe and North America are
also projected to present lucrative opportunities for textile chemical
suppliers with the growing focus on technical textiles and high performance
fibers.
Market Drivers:
The growing population and rising disposable income are driving
higher demand for apparel, home furnishing, and other textiles which is fueling
consumption of textile chemicals. In addition, rapid urbanization is propelling
the demand for technical and sports fabrics.
Market restraints: Stringent environmental regulations regarding toxic
chemicals and increasing preference for eco-friendly textile products are
hampering the sales of conventional textile chemicals. High R&D costs
associated with the development of bio-based chemicals can also limit market
growth.
Segment Analysis
The textile chemicals market has several key segments - coating and sizing
chemicals, printing agents, dyeing agents, finishing agents and others. The
coating and sizing chemicals sub-segment dominates the segment currently as
these are core chemicals required across all types of textiles during
production and processing. Coating and sizing
chemicals account for over 35% of
the total textile chemicals consumed worldwide presently and the trend is
expected to continue over the forecast period as well due to rising demand from
technical textiles.
Global Analysis
The Asia Pacific region currently dominates the global textile chemicals market
with a share of over 45% in 2024. China, India, Japan and South Korea are among
the top countries contributing to the Asia Pacific market growth. The rising
population, rapid urbanization and increasing disposable incomes have boosted
the apparel consumption in the region. This in turn has been driving the demand
for textile chemicals from the regional textile industry. North America is
expected to be the fastest growing region during the forecast period owing to
rising fiber consumption from technical textiles industry in the US and Canada.
Countries like Germany, Italy, UK are major markets in Europe contributing to
regional market growth.
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