Global Textile Chemical Market expected to reach approximately USD 3160 million by 2024, growing at a CAGR of slightly above 4.5% between 2018 and 2024; The textile industry can also be termed as a chemical dependent industry, as it utilizes a variety of chemicals during the manufacturing process.
Sarasota, FL -- (SBWIRE) -- 12/07/2018 -- Zion Market Research has published a new report titled "Textile Chemicals Market by Fiber (Natural, Synthetic), by Product Type (Coating & Sizing, Colorants & Auxiliaries, Finishing Agents, Desizing Agents, Surfactants, Bleaching Agents, and Others), and by Application (Apparels, Home Textile, Technical Textile, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024''. According to the report, the global textile chemical market was valued at around USD 2500 million in 2017 and is expected to reach approximately USD 3160 million by 2024, growing at a CAGR of slightly above 4.5% between 2018 and 2024.
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The textile industry can also be termed as a chemical dependent industry, as it utilizes a variety of chemicals during the manufacturing process. Textile chemicals include a huge range of products, such as surfactants, starch, sulfonated oils, and grease, among various other products. These chemicals are largely used for applications in pre-treatment processes, like coatings, sizing, etc.
Growing industrialization across different countries, such as China, India, etc., is the major reason for improved sales of the textile chemicals market in the last few years. China is one of the largest producers of textile chemicals around the globe. The country has large domestic consumption of textile chemicals and also exports huge volumes of materials to Japan, Europe, and America. On the other hand, India also has a massive market for textile chemicals and has its domestic production and exports of materials like cotton, synthetic fibers, and others. The increase in the disposable income has helped the country in supporting the growth of this market. The demand for technical textile is rapidly increasing. These textiles are largely favored in industries where there is a demand for superior properties and functionality. Automotive, construction, packaging, and healthcare industries are some of the major contributors to the growth of this market. The technical textile market is anticipated to have a market value of approximately USD 950 million by 2025. The coating and sizing chemicals are one of the most-used products for the textile chemicals market. However, stringent environmental regulations regarding the disposal of textile effluents are acting as a key restraining factor for this market. Nevertheless, increasing demand for technical textile is anticipated to provide new opportunities for the major players of the global textile chemicals market.
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The global textile chemicals market is diversified based on product type, application, and fiber type. By product type, the market for global textile chemicals is divided into colorant & auxiliaries, bleaching agent, finishing agents, surfactants, coating & sizing agents, desizing agents, and others. By application, the market is classified into apparels, home textile, technical textile, and others. The apparels are further divided into sportswear, intimates, and outerwear. The home textile is sub-segmented into bed linens, carpets, curtains, and others. By fiber type, the market is bifurcated into the natural and synthetic fiber. The natural fiber is further segmented into cotton, wool, and others. The synthetic fiber is sub-segmented into polyester, polyamide, viscose, and others.
The apparel segment is anticipated to be the major end-user of the global textile chemicals market and is anticipated to grow at a high growth rate over the forecast period. Moreover, rapid urbanization in the Asia Pacific is also anticipated to increase the demand for the textile chemicals market.
Based on region, the market is diversified into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. The Asia Pacific held the most significant share of the textile chemicals market in terms of volume in 2017. This can be attributed to the region's growing apparels sector. There is also significant growth in the furnishing, sportswear, healthcare, construction, and other industries.
Some key players operating in the global textile chemicals market includeArchroma, Tanatex Chemicals, Huntsman, Dowdupont, Evonik Industries, WackerChemie AG, Rudolf Group, Bozzetto Group, Dystar Group, and AkzoNobel N.V., among others.
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This report segments the global textile chemicals market as follows:
Textile Chemicals Market: Fiber Type Segment Analysis
Textile Chemicals Market: Product Type Segment Analysis
Coating & Sizing Agents
Colorant & Auxiliaries
Textile Chemicals Market: Application Segment Analysis
Textile Chemicals Market: Regional Segment Analysis
The Middle East and Africa