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Europe Textile Chemicals Market: Growing Demand for Finishing Agents to Push Market Growth at 4.20% CAGR
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Coating & sizing chemicals was the largest product segment of the Europe textile chemicals market for technical textiles, accounting for more than 30% share in 2013. Finishing agents is anticipated to be the fastest growing product segment of the Europe textile chemicals market for technical textiles in the next six years. Continual growth in demand for high-quality finished fabrics coupled with significant requirement of texture exquisite fabrics is estimated to drive the textile chemicals market for technical textiles in the next six years. Besides extrinsic properties, considerable increase in requirement for specific final product properties such as improved texture, stiffness of fabric, etc. is likely to boost demand for finishing agents in the textile chemicals market for technical textiles in the next few years.
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Mobiltech application segment dominated the Europe textile chemicals market for technical textiles in 2013 and accounted for over 25% of the market share in the same year. Mobiltech textiles are employed in numerous end-user applications pertaining to the transportation industry. Increasing demand for these textiles in various end-user industries such as automobile, railway, ship, aircraft and spacecraft is expected to drive the market for technical textiles in Europe. Agrotech was the fastest growing application segment in the textile chemicals for technical textiles market in Europe. Significant rise in the number of organic farms is likely to affect the growth dynamics of technical textiles in Europe. This, in turn, is anticipated to propel demand for agrotech textiles in the region. Agrotech textiles offer a broad spectrum of properties, and have high potential for usage in floriculture, agriculture, horticulture, forestry and landscape gardening applications.
Increasing demand for textile chemicals in rapidly growing technical textile application segments such as Agrotech, Meditech and Hometech is estimated to propel the Europe textile chemicals market for technical textiles in the next few years. Rising significance of geotextiles in Europe is estimated to offer immense opportunities to the textile chemicals market for technical textiles in the next six years. Various government initiatives and increase in research and development activities that focus on soil protection and environmental conservation are likely to boost the textile chemicals market for technical textiles in Europe in the near future. However, several environmental regulations on textile chemicals and emergence of equivalently effective bio-based alternatives for textile chemicals are expected to hamper market growth during the forecast period.
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Major manufacturers of textile chemicals include The DyStar Group, The Lubrizol Corporation, The Dow Chemical Company, Huntsman Corporation, Kiri Industries Limited, Zhejiang Longsheng Group Co., Ltd. (Lonsen), BASF SE, ARCHROMA MANAGEMENT LLC, Solvay S.A., and Bayer MaterialScience AG.
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