New York, Aug. 21, 2019 (GLOBE NEWSWIRE) -- The development of apparel industries owing to the rise in demand for consumers and growth in population is propelling the market growth.
The Global Textile Chemicals market is forecast to reach USD 36.62 Billion by 2026, according to a new report by Reports and Data. Textile chemicals are specialty chemicals that are used in the textile industry for a variety of purposes such as coloring, dyeing, and finishing. These chemicals find applications in various divisions of the textile sector that include home furnishing, industrial, and others. Owing to the changing trends in the fashion technology coupled with the growth of the apparel section of the textile industry, the critical application of textile chemicals is found to be in apparels.
The market for textile chemicals is influenced by the rising demand for home furnishing products, the evolution of environmentally friendly chemicals required by textiles industries, and development of packaging industries, which require large textile chemicals.
The above-mentioned factors collectively create opportunities for the market growth while factors such as unfavorable effects of textile chemicals pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the textile chemicals market owing to innovative efforts have enhanced the efficiency of textile chemicals.
The demography of Asia Pacific has been shifting towards the young population, and the purchasing potential of this young population is also increasing. Most of the developing countries are looking at India and China as the global market. These countries consists of over 40% population across the globe and application of technical textiles in this region will grow with a very high rate.
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Further key findings from the report suggest
- Natural Fiber held a market share of 38.6% in the year 2018. Natural Fibers have a smaller carbon footprint, and can be degraded by micro-organisms, and composted. It also uses less energy for production, emits fewer greenhouse gases, and supports organic farming.
- In textiles, industry surfactant is used for three main processes such as scouring, lubrication, and dyeing and finishing. Some common surfactants are Ethoxylates, Fatty Alcohol Ethoxylate, Fatty Acid Ethoxylate, and Fatty Amines Ethoxylate. Surfactants are forecasted to grow with a CAGR of 4.5% during the forecast period.
- Apparels held the largest market share of 47.8% in the year 2018. China became the largest consumer of textile chemicals owing to the ever-growing apparel and textile production, and on the huge production of synthetic fibers and cotton. China became a leader in world apparel and home textile (sheets and towel) production because of its low-cost labor compared with other countries.
- Asia Pacific is forecasted to grow with the highest CAGR of 5.1% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the textile chemical market. Textile production and chemical consumption have shifted from North America to Asia.
- Key participants Archroma, Tanatex Chemicals, Dystar Group, Rudolf Group, Huntsman, Dowdupont, Akzonobel N.V., Bozetto Group, Evonik Industries, and Sarex, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/textile-chemicals-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Textile Chemicals market on the basis of fiber type, product type, application, and region:
Fiber Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Natural Fibre
- Synthetic Fibre
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Coating & Sizing Agents
- Colorant & Auxiliaries
- Finishing Agents
- Surfactants
- Desizing Agents
- Bleaching Agents
- Others
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Apparel
- Home Textile
- Technical Textile
- Others
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Regional Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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