Textile Colourant Market: Technical Textiles Application Segment Expected to Expand at a Moderate CAGR over the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2016-2026
Valley Cottage, NY -- (SBWIRE) -- 11/07/2017 -- Global demand for textile colourants was pegged at 5,972 thousand tonnes in 2016. It is projected to increase to 6,248 thousand tonnes in 2017. Demand for textile colourants is anticipated to remain steady on account of growing applications in apparel and automotive industries. Demand is anticipated to remain higher in developing countries, owing to low labour costs and infrastructure development. Asia Pacific accounted for nearly 53% revenue share of the global textiles market in 2014.
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China to Lead Demand in APEJ
Asia Pacific excluding Japan remains the largest market for textile colourants globally. Textile colourants consumption in APEJ was estimated at 885 thousand tonnes in 2016; it is expected to grow to 925.5 thousand tonnes in 2017.
China remains the largest consumer of textile colourants in APEJ, accounting for nearly 531 thousand tonnes in 2016. This represents a market opportunity worth US$ 1.34 Bn. China textile colourants market is anticipated to grow at 5.2% in terms of value during the forecast period.
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Leading companies profiled by Future Market Insights in its report include Huntsman Corporation, LANXESS AG, KRONOS Worldwide, Inc., Kiri Industries Ltd., Atul Ltd., Allied Industrial Corp., Ltd., Archroma Management LLC, DyStar Group, Standard Colors, Inc., and Dye Systems, Inc.
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Powdered Textile Colourants Preferred by Manufacturers
On the basis of product form, the global textile colourant market has been segmented into powder, granules, paste, and liquid. Among these, demand for textile colourants in powder form is the highest, with this segment accounting for 663 thousand tonnes in demand.
Apparels Largest Application Segment
By application, the market has been segmented into apparels, household, technical textiles, automotive, and accessories. Demand for textile colourants in apparels is projected to surpass 1065 thousand tonnes in 2017.