Textile Chemicals Market worth $33.1 billion by 2026 Globally, at a CAGR of 4.6%, says MarketsandMarkets™

Chicago, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The global Textile Chemicals Market is projected to grow from USD 26.5 billion in 2021 to USD 33.1 billion by 2026, at a CAGR of 4.6% from 2021 to 2026, as per the recent study by MarketsandMarkets™. The driving factor for the Textile Chemicals market is chemicals is growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.

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Browse In-Depth TOC On "Textile Chemicals Market”

184 - Market Data Tables
28 - Figures
185 - Pages

List of Key Players in Textile Chemicals Market:

1. BASF SE (Germany)
2. Dow, Inc. (US)
3. Wacker Chemie AG(Germany)
4. Huntsman Corporation (US)
5. Solvay (Belgium)

Drivers, Restraints, Opportunities and Challenges in Textile Chemicals Market:

1. Drivers: Increase in demand for technical textile.
2. Restraints: Stringent environmental regulations regarding disposal of textile effluents.
3. Opportunity: Growing adoption of low VOC and biodegradable materials for textile manufacturing.
4. Challenges: Cyclic nature of textile industry.

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Key Findings of the Study:

1. Coating & Sizing Agents is expected to be the fastest growing by product type in the Textile chemicals market during the forecast period.
2. APAC is expected to hold the largest market share in the global Textile chemicals market during the forecast period.

Coating & Sizing Agents is the fastest-growing product type segment in the Textile chemicals market. In the process of sizing, various types of materials are applied to the yarn. It is a procedure carried out by applying a protective adhesive coating on the yarn. The main objective of sizing is to provide strength and glaze to the yarn. This improves the weaving efficiency by reducing yarn breakage. Coating is the process of depositing a polymeric layer on one or both sides of the textile substrate which enhances the functional properties. The chemicals used for sizing of yarns and textile coatings are called coating & sizing agents, which constitute an integral part of textile chemicals.

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Textile chemicals manufacturers are the most important players in the value chain as they produce and provide various types of textile chemicals based on their required properties for specific end-use applications. The end-use applications such as Apparel, Home Textile, Technical Textile, Others. This provides additional value to the chain.

Apparel is the largest market of Textile chemicals with a 54.8% share, globally. The apparel market is largely dominated by the EU and the US. It is also projected that China and India will be the fastest-growing apparel markets, both growing in double digits. The high growth in these markets will be primarily driven by economic growth and increasing disposable income. The growth in the apparel sector is estimated to boost the demand for textile chemicals.

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