Press release
Textile Chemicals Market Size To See Booming Growth | Chemical Industries, Croda International PLC, K-Tech Limited, Dow, Kemira
The global textile chemicals market is witnessing modest growth on account of increasing demand for textiles and apparels due to changing fashion trends, increasing population as well as rising disposable income of the consumers across the globeA recent study conducted by the strategic consulting and market research firm: Report Ocean revealed that the global textile chemicals market was worth USD 26.4 billion in 2021 and is forecast to reach USD 35.7 billion by the end of 2028. The global textile chemicals market is flourishing owing to the increasing demand for textiles and apparels due to changing fashion trends, increasing population as well as rising disposable income of the consumers. In addition, a growing number of small and medium-sized enterprises engaged in clothing and the development of biodegradable textile chemicals are anticipated to provide lucrative growth opportunities for the market in the forecast period. Although awareness of the hazards of textile chemicals may act as a huge restraint, the market for textile chemicals is still developing.
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Rising Scope of Textile Chemistry is Driving the Global Textile Chemicals Market
The expanding scope of textile chemistry is presenting new opportunities for the textile chemicals market. Textile chemistry helps in understanding the textile and textile materials and helps in modifying and develop new chemicals and materials, such as developing safer and greener chemicals. Additionally, it helps develop chemicals that can be used in textiles so that they are resistant to water, stains, wrinkles, bacteria, and mold.
Rapid Industrialization and Expanding Textile Production Boosting the Global Textile Chemicals Market
The volume of textile production is growing rapidly, with emerging economies such as China, India and Pakistan leading the market. With an increasing population and rising disposable income, both natural fibers and synthetic clothing are in high demand. This is anticipated to fuel the demand for textile chemicals in the coming years. Furthermore, the demand for technical textiles that is used in PPE suits and equipment is also growing after the COVID-19 pandemic, which is projected to drive the market growth in the forecast period.
Global Textile Chemicals Market - By Application
Based on applications, the global textile chemicals market is segmented into apparel, home textiles, technical textiles, and others. The apparel segment holds the largest market share. This segment is further classified into sportswear, intimates, and outerwear. With the changing fast fashion scenario and growing demand, there is an increased demand for fashion clothing. Furthermore, rapid globalization and high exposure to global fashion trends due to media influence are also driving the demand for fashion clothes, which further drives the demand for textile chemicals, driving the market growth.
Textile Chemicals Market - Regional Insights
Geographically, the global textile chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Asia-Pacific accounts for the largest share in textile chemicals. The increasing number of small and medium-sized textile manufacturing companies in emerging economies such as China and India are driving the textile chemicals market in the Asia Pacific. However, North America is projected to witness the highest CAGR during the forecast period owing to the increasing demand for apparel in the United States. Furthermore, increasing investment in R&D activities by industry players also plays a crucial factor in driving the market growth.
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Impact of COVID-19 on the Global Textile Chemicals Market
The textile chemicals market was hindered by the sudden COVID-19 pandemic outbreak. As the governments of various countries imposed strict lockdowns to mitigate the virus spread, textile & chemical manufacturing, and production operations were temporarily halted, which negatively impacted the growth of the overall market. Increasing work from home cultures and restrictions in distribution channels also impacted the apparel market growth due to the pandemic. The market is also projected to face major challenges in the post-COVID-19 period as well due to stringent government regulations against chemicals.
Global Textile Chemicals Market - Competitive Landscape
The leading players in the global textile chemicals market are Achitex Minerva SpA, Archroma, Sarex, GIOVANNI BOZZETTO SpA, Rudolf GmbH, Chemipol, Nouryon, CHT Group, Kiri Industries Ltd., Covestro AG, L. N. Chemical Industries, Croda International PLC, K-Tech Limited, Dow, Kemira, Evonik Industries AG, Huntsman International LLC, Formosa Organic Chemical Industry Co., Ltd, Tanatex Chemicals BV, and other prominent players.
Market Segment:
By Fiber Type (Natural Fiber, Synthetic Fiber)
By Product Type (Coating & Sizing Agents, Colorant & Auxiliaries, Finishing Agents, Surfactants, Desizing Agents, Bleaching Agents, Others)
By Application (Apparel, Home Textiles, Technical Textiles, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
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The global textile chemicals market is highly fragmented due to the presence of several multinational as well as regional industry players. The market offers a wide range of products with different features tailored to suit different fibers. They also significantly invest in R&D activities to develop new products and eco-friendly chemicals. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Dont miss the business opportunity of the global textile chemicals market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global textile chemicals market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global textile chemicals market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
Key Questions Answered in The Report:
What are the strengths and weaknesses of the key vendors?
Who are the Leading key gamers and what are their Key Business plans in the close to future?
What will be the market increase price and measurement in the coming year?
What are the principal key elements riding the market?
What are the key market tendencies impacting the increase of the world Market?
Which are Trending elements influencing the market shares of the pinnacle areas throughout the globe?
What is the have an effect on of The Russia-Ukraine Crisis on the modern industry?
Who are the key gamers and what are their strategies in the international Market?
What are the market opportunities and threats confronted by using the carriers in the world Market?
What industrial trends, drivers, and challenges are manipulating its growth?
What are the key consequences of the 5 forces evaluation of the world industry?
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Asia Pacific Dermal Fillers Treatment Market: https://www.barchart.com/story/news/13424923/asia-pacific-dermal-fillers-treatment-market-size-latest-trends-key-players-revenue-report-and-forecast-2030
Brush Motor Market: https://www.barchart.com/story/news/13424917/brush-motor-market-size-trends-growth-status-share-research-and-forecast-2030
Tungsten Carbide (WC) Based Thermal Spray Coating Market: https://www.barchart.com/story/news/13424914/tungsten-carbide-wc-based-thermal-spray-coating-market-size-demand-share-revenue-key-players-growth-and-forecast-2030
China Solenoid Valve Market: https://www.barchart.com/story/news/13424908/china-solenoid-valve-market-size-trends-share-growth-status-report-and-forecast-2030
Request full Report : https://reportocean.com/industry-verticals/sample-request?report_id=MR270
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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