Global Textile Chemicals Market Is Likely To Grow At A CAGR Value Of Around 4.4% By 2028

29-Mar-2022 | Zion Market Research

The global textile chemicals market was worth around USD 26.50 billion in 2021 and is estimated to grow to about USD 34.31 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.4 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Textile chemicals are used in textile manufacturing for multiple purposes such as pre-treatment and dyeing. Chemicals play a vital role in achieving the desired textile with specific characteristics and with increasing advancements in textile manufacturing the use of novel chemicals is also anticipated to see a major rise through 2028.

Textile chemicals are crucial to various manufacturing stages such as dyeing, printing, finishing, washing, synthesis, etc. Rising demand for synthetic textile materials is also expected to majorly influence the consumption of textile chemicals.

The rising population across the world has majorly influenced the demand for apparel and this has become the most lucrative application segment for the textile chemicals marketplace. Sustainability is also anticipated to play a crucial role in the textile chemicals market as stringent mandates are imposed regarding the use of chemicals in textile manufacturing and processing.

Textile chemicals companies have the opportunity of capitalizing on the sustainability trend as not many eco-friendly chemicals are present in the current textile chemicals market. However, changing landscape of the world economy is a major challenge for textile chemicals companies as it adds an element of uncertainty to business models and could result in major obstructions to overall textile chemicals market growth.

Global Textile Chemicals Market

Moreover, the environmental and human health hazards associated with the use of textile chemicals are expected to have a restraining effect on the global textile chemicals market. Increasingly strict mandates against the use of hazardous chemicals and rising awareness among the general population about the same are expected to majorly influence textile chemicals market growth through 2028. Textile chemicals companies can eliminate this by focusing on creating chemicals that are more nature-derived and alkaline in nature.

The pandemic of 2020 had a major impact on the textile chemicals market. With lockdown restrictions imposed across multiple countries, textile manufacturing and sales came to a near halt, resulting in huge losses for many textile chemicals companies. Dwindling demand, shut factories, shortage of raw materials, and inadequate workforce availability majorly hampered textile chemicals market growth in 2020.  The demand for textile chemicals is expected to see a steady rise in the post-pandemic world as everything returns to normal operating capacity and restrictions are lifted.

Browse the full Textile Chemicals Market By Fiber Type (Natural Fiber, Synthetic Fiber), By Product Type (Coating & Sizing Agents, Colorants & Auxiliaries, Finishing Agents, Surfactants, Desizing Agents, Bleaching Agents, Others), By Application (Apparel, Home Textile, Technical Textile, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/textile-chemicals-market

The global textile chemicals market is segregated based on fiber type, product type, application, and region. Based on application, the global market is distinguished into home textile, apparel, technical textile, and others. The technical textile sub-segment is anticipated to rise at the fastest CAGR of all applications due to increasing demand from automotive and medical end-use industry verticals. The rising popularity of better characteristic technical textile and increasing scope of application in applications like construction, industrial equipment, personal protective equipment, etc.

Asia Pacific region is expected to hold a dominant outlook in the global textile chemicals industry landscape. Increasing industrial activity in the emerging economies of China and India is expected to be at the helm of market growth in this region. China is a major market for textile chemicals manufacturers due to its highly lucrative manufacturing and production facilities. Increasing support from governments, rising investments, and developing industrial sectors are expected to be prominent factors propelling demand in emerging economies in the Asia Pacific Region. India is also expected to be a highly beneficial market for the textile chemicals market over the forecast period.

Key players functioning in the global textile chemicals market include Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), and Solvay (Belgium)

Recent developments:

  • In October 2021, Dow a world-renowned chemical company announced a collaborative effort with fashion giant Ralph Lauren to create a sustainable cotton dyeing process. The new effort will be aimed at reducing the use of water and chemicals in the dyeing process to meet sustainability goals.

Global textile chemicals market is segmented as follows:

By Fiber Type

  • Natural Fiber
  • Synthetic Fiber

By Product Type

  • Coating & Sizing Agents
  • Colorants & Auxiliaries
  • Finishing Agents
  • Surfactants
  • Desizing Agents
  • Bleaching Agents
  • Others

By Application

  • Apparel
  • Home Textile
  • Technical Textile
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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