Press release
Textile Auxiliaries Market value projected to expand by 2031
The global textile auxiliaries market was valued at US$ 8.0 Bn in 2021
It is estimated to grow at a CAGR of 3.9% from 2022 to 2031
The global textile auxiliaries market is expected to reach US$ 11.7 Bn by the end of 2031
Analysts' Viewpoint on Textile Auxiliaries Market Scenario
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Companies operating in the textile auxiliaries market are focused on high-growth applications, such as home furnishings and apparel, in order to generate more revenue. Manufacturers engaged in the textile auxiliaries market should make efforts to keep up with this trend by emphasizing on the development of sustainable and environment-friendly processes and products in the near future. High demand and lower cost of production in Asia Pacific have prompted global textile auxiliaries' manufacturers to shift their base to the growing Asia Pacific market. Companies offering textile auxiliaries should also focus on changing consumer fashion dynamics and the booming fashion industry. Introduction of smart textiles is expected to change the prospective of the textile auxiliaries industry. Textile auxiliary manufacturers are aggressively focusing on R&D activities in order to cater to the demands of the fashion industry as well as comply with the changing environmental policies.
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Textile auxiliaries, such as pretreatment agents, dyeing & printing agents, finishing agents, and spin finish, knitting & weaving, are widely utilized in home furnishings, technical textiles, apparel, and industrial textiles.
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The global textile auxiliaries market is estimated to grow at a moderate pace during the forecast period, due to the increased usage of textile auxiliaries in emerging applications, such as smart fabrics; surge in interest in environment-friendly products; and the favorable properties of textile auxiliaries, specifically for applications such as apparel and home furnishings.
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Analysis of Key Players in Global Textile Auxiliaries Market
The global textile auxiliaries market is highly fragmented, with a small number of large-scale vendors controlling majority of the share. Most companies are investing considerably in comprehensive research and development activities, primarily to create environmentally-friendly products. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players Huntsman International LLC, Solvay, Archroma, Dow Chemicals, ZSCHIMMER & SCHWARZ, and Fibro Chem LLC. are the key entities operating in the market.
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