Textile Chemicals Market Share | Reach $27,560 Million
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According to Eswara Prasad, Team Lead, Chemical & Materials at Allied Market Research, Upsurge in demand for home furnishings and eco-friendly products, development of packaging industries, and rise in disposable income in the emerging economies are the major factors that drive the textile chemical industry. However, unfavorable effects of textiles chemicals on environment may hamper the market growth during the forecast period.
Among all product types, coating and sizing chemicals generated the highest revenue with more than one-fourth share in 2015. Apparel industry is the fastest growing application segments, registering a CAGR of 3.5% and 3.9% on the basis of revenue and volume, respectively, during the forecast period. In 2015, industrial and other applications generated the highest revenue with more than one-third share.
KEY FINDINGS OF THE TEXTILE CHEMICAL STUDTY:
• Asia-Pacific is expected to continue to dominate the global textile chemical market, growing at a CAGR of 2.9%, in terms of revenue, from 2016 to 2022.
• Colorants & auxiliaries segment occupied more than one-fourth share of the total market revenue in 2015.
• In 2015, the home furnishing segment occupied around one-third share of the global market, in terms of revenue.
• Surfactant is the fastest growing product segment with CAGR of 3.9% during the forecast period.
The market is segmented on the basis of four regions, namely North America, Europe, Asia-Pacific, and LAMEA. Presently, North America is the fastest growing region in the global textile chemical industry, owing to high demands for textile chemicals and strong economic base of manufacturers in the U.S. The major players operating in the North American textile chemical market are Archroma and DyStar Group.
Product launch is the key strategy adopted by market players to expand their product portfolio. Mergers & acquisitions, business expansion, production expansion, and partnerships are the other prominent strategies adopted by key players to sustain the intense competition in the market.
Key players profiled in this report include
Huntsman International LLC,
Dow Chemical Company,
Kiri Industries Limited,
OMNOVA Solutions Inc.,
The Lubrizol Corporation, Covestro AG, and BASF SE.
Other major players (not profiled in report) in the industry are CHT/BEZEMA Group, Clariant, Bayer AG, Sumitomo Chemicals, Sarex, and Lonson Inc.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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