Textile Chemicals Market to witness Healthy Growth; Manufacturers in the Asia Pacific Region will Witness Significant Growth Opportunities: Fact.MR

The global textile chemicals market is expected to reflect a moderate growth for the period of forecast between 2020 to 2030, supported by growing consumer awareness. According to the Fact.MR study, the coronavirus outbreak is expected to negatively impact players participating in the textile chemicals market. Supply chain disruptions are a concern, and lockdown restrictions on production facilities are limiting growth opportunities.

"Environmental conservation concerns associated with textile chemicals have resulted in a transition towards the production of bio-based products. Green chemicals are manufactured from animal and plant oils, which not only keep the products compliant to eco-friendly standards, but also reduces costs of production," says the FACT.MR analyst.

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Textile Chemicals Market- Key Takeaways

Coating and sizing textile chemicals are leading contributors to revenue, aided by rising demand for flexibility and abrasion resistance in apparel and furnishings.

Chemicals for technical textile applications reflect high growth rate owing to wide scope of applications in packaging, automobile, construction, and healthcare sectors.

North America is a leading regional market for textile chemicals driven by the high production volume of technical textiles and fast-fashion apparel.

Textile Chemicals Market- Driving Factors

The global growth of disposable income levels and improvements in organized retail for apparel drives demand.

Government initiatives supporting research & development and production of textile materials, in emerging economies has bolstered growth.

Textile Chemicals Market- Major Restraints

Fluctuation of prices for varying textile chemicals is holding back scalability and profitability in the industry.

Strict environmental regulations over air and water contamination has resulted in restrictions on production.

COVID-19 Impact on Textile Chemicals Market

The coronavirus pandemic has had a disruptive effect on the textile chemicals market. Lockdown restrictions imposed by governments around the world has hurt production facility operations and supply chains for raw materials.

Also, changes in consumer spending behavior towards essential commodities instead of apparel and furnishings have impacted sales. Potential for uses in technical textiles in the health care sector provide lucrative growth opportunities. Recovery is likely to be gradual owing to the largely non-essential nature of many textile applications.

Competitive Landscape

Solvay, Archroma Management LLC, CHT Group, Bozzetto Group, Wacker Chemie AG, Dow DuPont Inc., Huntsman Corp., DyStar Singapore Pte, Lonsen Inc., Evonik Industries AG, and TANATEX Chemical B.V. are some of the leading textile chemicals manufacturers in the global market.

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Textile chemicals market players have been largely interested in the expansion of their product portfolio in addition to collaborations in the industry to improve on product functionality and operational efficiency.

For instance, GoBlu International in December 2020 announced its collaboration with ZDHC Foundation for the use of its BHive chemical management platform, which allows consumers to check with factory inventories.

Crystal International has joined hands with the Ellen MacArthur Foundation towards the Jeans Redesign project. The project will largely focus on the development and maintenance of circular economies in the apparel sector.

NILIT, a market leader in sustainable nylon production has unveiled Sensil Watercare range of pre-dyed fabrics to significantly reduce water treatment costs, processing times and minimizes water pollution, to keep up with CSR goals.

About the Report

This study offers readers a comprehensive market forecast of the textile chemicals market. Global, regional and country-level analysis of the top industry trends impacting the textile chemicals market is covered in this Fact.MR study. The report offers insights on the textile chemicals market on the basis of product (coating & sizing chemicals, colorants & auxiliaries, finishing agents, surfactants, desizing agents, bleaching agents, and others), fiber (natural & synthetic), and application (home furnishing textiles, apparel textiles, technical textiles, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

Press Release: https://www.factmr.com/media-release/1744/global-textile-chemicals-market

 

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