Textile Chemicals Industry Overview
The global textile chemicals market is expected to reach USD 36.13 billion by 2030, as per the new report by Grand View Research, Inc., rising at a CAGR of 4.7% during the forecast period. The growth is majorly driven by increasing demand for textile products from major applications including apparel, home furnishing, technical textiles, and others.
Rapidly growing demand from the apparel industry is anticipated to propel the demand for the product during the forecast period. Home furnishing, specifically in developing economies, demanding modern and attractive furniture products is expected to have a positive impact on the growth of the market.
Textile Chemicals Market Segmentation
Grand view research has segmented the global textile chemicals market report based on process, product, application, and region:
Based on the Process Insights, the market is segmented into Pre Treatment, Coating, and Treatment of Finished Products
- The coating process dominated the market with a revenue share of 71.16% in 2021. Its high share is attributable to increasing demand for the coating chemicals with the ability to provide additional properties including waterproofing, fire resistance, stain repellence, and others.
- Denim finishing agents such as enzymes, softeners, anti-back staining agents, and bleaching agents are highly utilized in the denim finishing process in the textile industry.
Based on the Product Insights, the market is segmented into Coating & Sizing Chemicals, Colorants & Auxiliaries, Finishing Agents, Surfactants, and Denim Finishing Agents
- Coating & sizing chemicals dominated the market with a revenue share of 50.22% in 2021. This high share is attributable to growing demand from geotextiles, automotive, outdoor wear, and aerospace applications.
- The global demand for sizing chemicals is expected to increase during the forecast period for efficient sizing of fabrics during the finishing treatment.
- Colorants and auxiliaries are the second largest product segment accounting for 29% of the total share in the product market.
- With the increasing demand for customized and aesthetically attractive products, the demand for finishing agents is anticipated to surge globally. This is expected to lead to the growth of the product market chemicals during the forecast period.
Based on the Application Insights, the market is segmented into Apparel, Home Furnishing, and Technical Textiles
- Apparel applications dominated the market with a revenue share of 44.71% in 2021. This high share is attributable to several factors such as rising disposable incomes, the growing millennial and Gen Z population who are getting influenced by social media and fashion icons, and the growing e-commerce industry.
- Growth in textile raw material production is also expected to increase, which, in turn, is likely to contribute to the growth of apparel production.
- urthermore, the technical textiles market is on a growth trajectory in Asia Pacific countries. Textile chemicals are likely to witness high demand from Medtech, Buildtech, and Protech applications.
Textile Chemicals Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The textile chemicals market is highly competitive owing to the presence of many manufacturers with a global presence. The spread of the COVID-19 has accelerated the technological transformation that had already begun. Digitalization and the use of artificial intelligence and the Internet of Things (IoT) in manufacturing processes have been at the forefront of strategies of companies. For instance, in January 2021, Solvay S.A. announced that it will begin using blockchain technology for developing a circular economy. The technology will be used to store, exchange, develop, and trace the information related to products, right from their feedstock producers to end-users.
Some prominent players in the global Textile Chemicals market include:
- Kiri Industries Ltd.
- OMNOVA Solutions Inc.
- German Chemicals Ltd.
- AB Enzymes
- Organic Dyes and Pigments
- Govi N.V.
- Resil Chemicals Pvt. Ltd.
- LANXESS
- Dow
- BASF SE
- Huntsman International LLC
Order a free sample PDF of the Textile Chemicals Market Intelligence Study, published by Grand View Research.
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