Global Textile Chemicals Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights

The global Textile Chemicals market size was estimated at USD 25.18 billion in 2021 to USD 26.58 billion in 2022 and is anticipated to reach around USD 39.8 billion by 2030, growing at a CAGR of roughly 5.1% between 2022 and 2030.

The global Textile Chemicals market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.

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The Textile Chemicals Market: Overview

The textile chemicals market is projected to attain significant growth in the following years attributed to the presence of manufacturers, producers, and distribution channels. Additionally, the market is also witnessing a paradigm shift in aspects such as consumer preference, pricing policies, and production.

The market also witnessed a huge spike in the fashion industry owing to the rise in fashion standards and inclination towards creating more appealing apparel. Textile chemicals are widely used across home furnishing, industrial chemicals, and others.

Besides, the industry comprises several processes that have become paramount for apparel and clothing industries operating on a global scale. In the past few years, textile applications have achieved high optimal levels thereby adding to the popularity of dyes, and chemicals.

The Textile Chemicals Market: Growth Drivers

• Population Demands to Suffice the Market Growth

Against the backdrop of the growing population, the textile chemicals market has gained an immense consumer response for apparel. The demand for textile products is projected to grow by the forecast period owing to the increased production capacities. However, trade recessions and political instability is expected to create challenges.

However, an increase in consumption should continue pumping the market growth as the chemical industries are expected to reach to attain their peak by the end of 2022. This is probably expected to create more opportunities for market developments in the coming years.

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• Social Media and Smartphones to pump market growth

The increasing penetration of smartphones and easy accessibility to the internet, particularly in developing economies, is boosting the Textile Chemicals market. During COVID-19, smartphone penetration further increased at the lightning speed.

Buying over social media is now gaining immense traction as users prefer a D2C approach to get their clothing needs addressed. Moreover, the growing competition among D2C companies has pumped in the market growth in terms of consumer retention, the shift in buying patterns, and consumer preference for waivers and discounts.

The Textile Chemicals Market: Key Insights

• As per the analysis shared by our research analyst, the Textile Chemicals market is estimated to grow annually at a CAGR of around 5.1% over the forecast period (2022-2030).
• In terms of revenue, the Textile Chemicals market size was valued at around USD 25.18 billion in 2021 and is anticipated to reach around USD 39.8 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on product segmentation, the coating segment was predicted to show maximum market share in the year 2021.
• Based on application segmentation, the apparel segment was the leading revenue-generating category in 2021.
• On the basis of region, the Asia Pacific region was the leading revenue generator in 2021.

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The Textile Chemicals Market: Recent Developments

• July 2022: Recently, Indorama Ventures Public Company fully acquired the Italian company Filatura Tollegno. The acquisition allows IVL to gain full-hand access to the wool business and also enhance its presence in its European counterparts. Besides, the acquisition also highlighted the addition of sustainable products to the company's portfolio along with existing assets.
• June 2022: Huntsman Textile Effects, a leading provider of chemicals, digital inks, and dyes introduced PHOBOTEX R-ACE, which is outdoor wear for extreme sports. It has water-repellent features and blends easily with resin to ensure a better performance. The company claims the product can withstand tough climate conditions and has the capacity to repel food and liquid stains.
• June 2022: Baldwin Technology has now partnered with Zeis Textiles Extension mainly for using spray technology for chemicals. The partnership also encourages the effective use of resources and enhances sustainability by using spray technology.

The Textile Chemicals Market: Major Players

The DyStar Group Lonsen
The Lubrizol Corporation
The Dow Chemicals Company
Bayer Material Science
Kiri Industries
Omnova Solutions Inc.,
BASF SE
Solvay SA

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The Textile Chemicals Market: Segments

By Product Type

Coating
Surfactants
Desizing Agents
Bleaching Agents
Finishing Agents
Yarn Lubricants

By Application

Home Furnishing
Apparel
Industrial

The Textile Chemicals Market: Regions

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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This release was published on openPR.