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Textile Chemicals Market: Outlook, Current And Future Industry Landscape Analysis 2033
Textile Chemicals Market
The Business Research Company presents an extensive market research report on the Textile Chemicals Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The textile chemicals market size has grown strongly in recent years. It will grow from $23.98 billion in 2023 to $25.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to textile industry growth, consumer demand for diverse textiles, global fashion trends, environmental and regulatory compliance, textile manufacturing innovations.
The textile chemicals market size is expected to see strong growth in the next few years. It will grow to $32.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainable textile production, technical textile applications, rising disposable income, globalization of textile supply chains, stringent quality standards. Major trends in the forecast period include development of textile chemicals for digital printing, focus on antimicrobial textile treatments for hygiene and health, introduction of specialty chemicals for technical textiles, collaborations for research on sustainable textile chemistry, adoption of textile chemicals for circular fashion initiatives.
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Key Market Players:
Major companies operating in the textile chemicals market report are BASF SE, Dow Inc., Evonik Industries AG, Covestro AG, Solvay SA, Formosa Organic Chemical Industry Co Ltd., Arkema SA, AkzoNobel NV, Wacker Chemie AG, The Lubrizol Corporation, Kemira Oyj, Croda International plc, Huntsman Corporation, CHT Group, Kemin Industries Inc., NICCA Chemical Co Ltd., Giovanni Bozzetto SpA, Pulcra Chemicals GmbH, DIC Corporation, Kiri Industries Limited, Archroma India Pvt Ltd., Indofil Industries Ltd., Fineotex Chemical Limited, Tanatex Chemicals BV, Chemipol SA, Achitex Minerva SpA, Jintex Corporation Ltd., Sarex Chemicals, Lonsen Inc., Tata Chemicals Ltd.
Market Drivers:
The increasing demand for textiles is expected to boost the demand for textile chemicals during the forecast period. The textile industry encompasses the research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. Textile chemicals enhance textile manufacturing processes at several stages of fiber production, yarn processing, fabric dyeing, and finishing. These compounds increase efficiency, decrease processing time, and improve product quality. For instance, according to India Brand Equity Foundation, a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, India's textile and apparel exports (including handicrafts) were US$ 44.4 billion in FY22, representing a 41% rise year on year. Hence, the growing demand for textiles is expected to boost the demand for textile chemicals to manufacture better quality products.
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https://www.thebusinessresearchcompany.com/report/textile-chemicals-global-market-report
The textile chemicals market covered in this report is segmented -
1) By Product Type: Coating And Sizing Chemicals, Finishing Agents, Colorants and Auxiliaries, Surfactants, Desizing Agents, Yarn Lubricants, Bleaching Agents
2) By Fiber Type: Natural Fiber, Synthetic Fiber
3) By Application: Apparel, Home Furnishing, Automotive Textile, Industrial Textile, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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