Textile Chemicals Market is Supposedly to Grow at 4.1% CAGR During the Forecast Period (2023-28)

Global Textile Chemicals Market

Textile Chemicals Market is Supposedly to Grow at 4.1% CAGR During the Forecast Period (2023-28)

MarkNtel Advisors recently issued a research report stating that the Global Textile Chemicals Market is anticipated to rise at a CAGR of approximately 4.1% during the forecast period, 2023-28. Used across several stages of textile production, textile chemicals are chemical amalgams employed to boost or enhance the properties of textiles. They are utilized to print, dye, finish, and upgrade the quality & value of textiles.

The major factors fueling the market growth include the widening consumption of textiles and apparel across the world. Moreover, the increasing population, enhanced disposable income of the people, escalating population of the youth, social media influence, and the prevalence of trends across the fashion industry are some of the major reasons attributing to the flourishing apparel industry, thus escalating the Textile Chemicals Market share.

Moreover, the swift inclination of consumers towards foreign textile brands is also leading to a boost in the demand for textile chemicals, further augmenting its market growth. Besides, the report further states that the initiative by some major market players to come up with eco-friendly & sustainable processes and solutions regarding textile chemicals is also leading to an upsurge in the Global Textile Chemicals Market.

Highest Shareholders in the Global Textile Chemicals Market

Some of the major key companies holding a significant share 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, Cosmo Specialty Chemicals Private Limited, Huntsman International LLC, The Lubrizol Corporation, Archroma, Omya United Chemicals, BioTex Malaysia, and others.

Examining the Segmentation of Global Textile Chemicals Market

  • By Fiber Type (Natural Fiber (Cotton & Wool) and Synthetic Fiber (Polyester, Polyamide, and Viscose)
  • By Product (Coating & Sizing Chemicals, Colorants & Auxiliaries, Desizing Agents, Finishing Agents, Surfactants, and Bleaching Agents)
  • By Application (Apparel (Sportswear, Outerwear, and Innerwear), Home Furnishing (Bed Linen, Drapery, Carpet, and Other) and Technical Textiles
  • By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

The largest share is to be captured by Apparel in the coming years given the rising disposable income and enhancement in the economic conditions leading to an upsurge in the purchase of apparel. The increasing population of youth comprising Gen Z and millennials taking inspiration from celebrities and social media has also impacted the apparel market positively further leading to the growth of the Textile Chemical Market. Furthermore, the presence of textile chemicals such as dyes, peroxide stabilizers, dispersants, soaping agents, thickeners, softeners, etc., and the initiative by several major companies to develop sustainable and eco-friendly processes are also expected to enhance the market share.

Asia-Pacific stands at the front with the largest share and is likely to follow the trend during the forecast period as well. The major factor owing to Asia-Pacific’s dominance is the presence of the automotive & textile industry extensively in the region primarily across countries like China, India, and Japan, which is further boosting the Asia-Pacific Textile Chemicals Market. Moreover, due to the substantial presence of the textile and automotive industry in the region, the major companies are working on enhancing their production & distribution abilities and fulfilling the massive requirements across the region leading to the region’s dominance in the years ahead.

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