Textile Chemicals Market is Forecasted to Reach US$ 36.14 billion in 2028, Says Stratview Research

The global textile chemicals market is projected to witness a growth rate of 4.47% annually from 2023 to 2028, with an anticipated size of US$ 36.14 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global textile chemicals market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1506/textile-chemicals-market.html#form

Report Highlights:
Market Size in 2028: US$ 36.14 billion
Growth (CAGR): 4.47% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Textile Chemicals Market:

The global textile chemicals market is segmented based on product type, application type, fiber type, and region.

Based on product type - Based on the product type, the textile chemicals market is segmented as coating & sizing agents, colorants & auxiliaries, finishing agents, surfactants, desizing agents, bleaching agents, and others. The coating & sizing agents segment accounted for the largest market share of more than 50% in 2022. As coating & sizing agents enhance the strength and abrasion resistance of yarns, they are widely used in the pretreatment stage of the textile processing chain, which is a major factor driving the growth of the segment.

Based on application type - Based on the application type, the market is segmented as apparel, home textile, technical textile, and others. The apparel segment accounted for the largest market share of more than 45% in 2022. Increasing population and disposable income are paving the path toward unprecedented growth, bolstering the demand for apparel.

Based on fiber type - Based on the fiber type, the market is segmented as natural and synthetic. The synthetic segment is expected to maintain its dominance during the forecast period owing to its better performance with lower production cost characteristics.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/1506/textile-chemicals-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific held the highest market share of more than 55% in 2022. This growth outlook is majorly attributed to the following-

• Large population, cheap labor, rapid industrialization, and robust textile manufacturing base are the factors likely to increase the demand for textile chemicals in the region.
• Asia Pacific is considered the global hub for textile production with countries like China, Bangladesh, Indonesia, India, etc. accommodating several leading textile manufacturers.
• China owns the world's largest textile industry both in terms of production and export. Recent data from China's Ministry of Industry and Information Technology reveals steady growth in the first three quarters of 2022. Major textile industries in China recorded a 3.1% year-over-year rise in the combined operating revenue reaching CNY 3.86 trillion (USD 570 billion) in that period.

Textile Chemicals Market Drivers:

Some of the key drivers listed in the report are given below.
• Expanding textile industry - The growth of the global textile chemicals market is closely linked to the overall growth of the textile industry. Across sectors like home furnishings, healthcare, etc., the demand for textiles is rapidly growing, and with this, there is a parallel rise in the demand for textile chemicals too.
• Rising demand for technical textiles - The demand for technical textiles, which are used in sectors including automotive, construction, sports, etc. is growing significantly. These textiles require specialized chemicals to impart properties like durability, resistance to chemicals and temperature, etc. With this, the demand for textile chemicals is also rising substantially, as these chemicals play a massive role in pre-defining textile properties.
• Rising sustainability demands and environmental policies - Due to stringent environmental regulations, most textile and chemical manufacturers are shifting their focus towards green chemicals. In April 2023, Erca Group - an Italian chemical company that is already known for supplying textile chemical auxiliaries by replacing petrochemicals with vegetable oil, announced that it will spin out a new business unit by 2024 to provide a wide range of new 'green' chemical solutions. Hence, green textile chemical is going to boost global textile chemicals in the coming years.

Top Companies in the Textile Chemicals Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• ABITEC
• Achitex Minerva Spa
• Air Products & Chemicals Inc.
• Arkema
• Nouryon
• The Lubrizol Corporation
• Chemipol (Kothari Group of Industries)
• Dainichizeika Color & Chemicals Mfg. Co. Ltd
• The Dow Chemical Company
• Formosa Organic Chemical Industry Co. Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Textile Chemicals Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Digital Textile Printing Inks Market: https://www.stratviewresearch.com/324/Digital-Textile-Printing-Inks-Market.html

Postal Address:
400 Renaissance Center, Suite 2600,
Detroit, Michigan, MI 48243
United States of America

Website: www.stratviewresearch.com
Mail Us: sales@stratviewresearch.com
Press: media@stratviewresearch.com
Call Us: +13133074176

About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.