The use of textile chemicals is growing due to their crucial role in enhancing the performance and aesthetics of textiles. They improve durability, water repellency, and safety features in fabrics enabling custom designs and patterns. Textile chemicals find applications across industries, including fashion and sportswear to healthcare.
According to Data Bridge Market Research the Global Textile Chemicals Market which was USD 27.88 billion in 2022, is expected to reach USD 41.82 billion by 2030. The market is expected to grow with a CAGR of 5.2% during the forecast period of 2023 to 2030.
"Sustainable and Eco-Friendly Textile Chemicals Leads to the Rise in Market Growth”
Rising environmental consciousness among consumers has encouraged the textile industry to shift the focus towards sustainable practices. In response to this, there is a growing market for eco-friendly textile chemicals and processes. This trend is driven by the industry's need to meet the increasing demand for sustainable and environmentally responsible products, aligning with the values of modern consumers.
What Restraints the Growth of Textile Chemicals Market?
“Health and safety concerns associated with textile chemicals”
Health and safety concerns restrains the textile chemicals market, which may contain harmful substances, are a significant restraint on the market. These concerns can result in reduced usage as consumers seek safer alternatives. When regulatory bodies make rules that force textile chemical manufacturers to be more careful with their products, it can cost these companies more money to follow the rules. This doesn't just slow down the market; it also makes companies focus more on creating chemicals that are safer and better for the environment.
Segmentation: Global Textile Chemicals Market
The textile chemicals market is segmented on the basis of process, product, and application.
- On the basis of process, the textile chemicals market is segmented into pre-treatment, coating, treatment of finished products.
- On the basis of product, the textile chemicals market is segmented into coating and sizing chemicals, colorants and auxiliaries.
- On the basis of application, the textile chemicals market is segmented into apparel, technical textiles
Regional Insights: Asia Pacific is expected to Dominate the Textile Chemicals Market
The Asia Pacific region dominates the global textile chemicals market because of its huge textile industry in countries such as China and India. This region is known for keeping production costs low, which is good for business. They're rapidly building up their industries and mostly make textiles for export to other parts of the world. They're also investing a lot in things like factories, transportation, and ports, which makes everything run more smoothly.
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Recent Developments in Global Textile Chemicals Market
- In June 2023, Archroma and Somelos merged their efforts to enhance sustainable cotton processing. Together, they are working on introducing an innovative finishing process and a water-saving dye that completely eliminates the generation of wastewater. This joint initiative enhance their dedication to promot sustainability in the textile industry by developing environmentally-friendly solutions to preserve resources and foster environmental cleanliness
- In May 2023, Evonik Industries AG introduced TEGOCycle additives, specially created to transform plastic waste into valuable plastics. These additives include odor absorbers, antifoams, processing aids, and wetting agents, addressing the recycling requirements of textile chemicals. They make it easier to reuse these chemicals in an environmentally sustainable way.
The Prominent Key Players Operating in the Textile Chemicals Market Include:
- Dow Inc. (U.S.)
- BASF SE (Germany)
- Huntsman Corporation (U.S.)
- Archroma (Switzerland)
- Solvay S.A. (Belgium)
- Lubrizol Corporation (U.S.)
- Clariant AG (Switzerland)
- Wacker Chemie AG (Germany)
- Kiri Industries Limited (India)
- Kemira Oyj (Finland)
- Huntsman Textile Effects (Singapore)
Above are the key players covered in the report, to know about more and exhaustive list of textile chemical market companies contact us, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Textile Chemicals Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
