Europe Textiles Chemicals Market for Technical Textiles Rising at 4.2% CAGR from 2014 to 2020 due to Rising Demand for Agrotech Chemicals
According to the report, the Europe textile chemicals market for technical textiles was valued at US$1.2 bn in 2013 and is expected to rise to a valuation of US$1.6 bn by 2020, rising at a CAGR of 4.2% between 2014 and 2020.
Textile chemicals are a range of chemicals used in the manufacturing process of textiles to impart specific physical attributes to the end product. Technical textiles are used in specialized applications in order to improve the output of the application. As a result, their design varies according to their application. Textile chemicals are used to alter the performance of technical textiles and make them suitable for their particular application.
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On the basis of application, the Europe textile chemicals market for technical textiles is segmented into mobiltech, buildtech, sportech, hometech, indutech, agrotech, protech, clothtech, packtech, meditech, and others. Of these, mobiltech dominated the demand from the Europe textile chemicals market for technical textiles. Mobiltech is receiving increasing demand from the aviation, automotive, and shipbuilding industries, all of which are registering promising sales figures in Europe at present. Mobiltech accounted for 25% of the Europe textile chemicals market for technical textiles in 2013.
In the coming years, the Europe market for textile chemicals for technical textiles is expected to be marked by the rapid growth of the agrotech application segment. Agrotech textile chemicals are being used not only in agriculture, but also in horticulture, landscape gardening, forestry, and floriculture. The sustained demand for these applications will stimulate the demand for agrotech textile chemicals in the coming years.
The growing demand for hometech textile chemicals is also a major driver for the Europe textile chemicals market. On the other hand, the increasing awareness about the environmental impact of textile chemicals and the increasing research into the carcinogenicity of various textile chemicals are emerging as influential restraints on the Europe textile chemicals market for technical textiles.
By product type, coating and sizing chemicals accounted for a dominant 30% of the Europe textile chemicals market for technical textiles. Other major product segments of the Europe textile chemicals market are finishing agents, bleaching agents, colorants and auxiliaries, surfactants, yarn lubricants, and desizing agents. Finishing agents are expected to rise in demand in the coming years due to the growing demand for high-quality textiles.
Apart from analyzing the major segments and the drivers and restraints of the Europe textile chemicals market for technical textiles, TMR analysts have also studied the operations of major players in the industry and presented a brief profile of key companies such as Archroma LLC, Huntsman Corporation, OMNOVA Solutions Inc., Solvay S.A., The Dow Chemical Company, and The Lubrizol Corporation.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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