Dallas, March 10, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global textile chemicals market is expected to grow from USD 24.20 billion in 2020 to USD 37.58 billion by 2030, at a CAGR of 4.5% during the forecast period 2021-2030.
A textile is a flexible material manufactured by interconnecting a network of yarns or threads spun from raw fibres (natural or synthetic) into long, twisted lengths. Weaving, knitting, crocheting, knotting, tatting, felting, bonding, or braiding these yarns together forms textiles. In general, textiles chemistry can be divided into several areas. These are: dyeing, fiber and polymer chemistry, finishing and blending textile materials.
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Chemicals have become more widely used as additional raw materials as textile production and consumption have expanded. Textile manufacture employs a wide range of chemical types and quantities. Chemicals used in textiles and their exposure to textile industry people, as well as their environmental implications, have received more attention in the current industry scenario. Novel technologies have been vital in ensuring the steady growth of these products while adhering to safety, health, and environmental requirements.
Major players in the global textile chemicals market are Evonik, Kemira, Kiri Industries Limited, Omnova Solutions Inc., Sumitomo Chemicals Co. Ltd., Tata Chemicals Ltd. And The Lubrizol Corporation among others. To enhance their market position in the global Textile chemicals market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• Bozzetto Group and Asutex announced in January 2020 that they had finalised an agreement to form a new leader in the specialty textile chemicals industry.
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The synthetic segment dominated the textile chemicals market with a market share of around 58.1% and a market value of around 14.06 billion in 2020.
The fiber segment is divided into natural and synthetic. The synthetic segment dominated the textile chemicals market with a market share of around 58.1% and a market value of around 14.06 billion in 2020.
Colorants & auxiliaries accounted a significant share in 2020.
The product type segment is divided into coating & sizing, surfactants, finishing agents, colorants & auxiliaries, bleaching agents, desizing agents, and others. Colorants & auxiliaries accounted a significant share in 2020. Dyeing auxiliaries are used to wash and dye yarns and fabrics. These compounds are used to prepare and change the substrate for coloration, as well as stabilise the application medium to improve dyeing fastness. Dispersing agents, carriers, sequestering agents, peroxide killers, antifoaming, and anti-pilling agents are only a few of the important auxiliaries.
The technical textile segment accounted a significant share in 2020.
The application segment includes apparel, technical textile, home furnishing, others. The technical textile segment accounted a significant share in 2020. The technical textile segment has grown rapidly in recent years and is likely to continue to do so in the coming years. Product consumption is predicted to rise as consumers become more aware of greater functionality and applications in areas such as automobiles, healthcare, construction, and packaging. The fast-growing automotive industry and growing use of geotextiles are expected to propel the Geotech and Mobiltech segments forward.
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Regional Segment Analysis of the Textile Chemicals Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia- Pacific is dominating the market with the market share of 38.4% and a market value of USD 14.43 billion in 2020. In the region, India and China had the highest consumption of technical textiles. For the past five years, China has become the world's largest single consumer. In terms of demand, India is expected to be a strong contender in the regional market, and it will be the second largest market in terms of volume consumed.
About the report:
The global textile chemicals market is analyzed based on value (USD billion), volume (kilotons), import (kilotons) and export (kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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