Austin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- “According to SNS Insider Research, The Textile Chemicals Market Size was valued at USD 27.7 billion in 2023 and is expected to reach USD 41.9 billion by 2032 and grow at a CAGR of 4.7% over the forecast period 2024-2032.”
The textile chemicals market is characterized by transformation in various ways, both due to technological development and a shift toward sustainable practices. Leading companies, such as Fibre2Fashion and ERCA Textile Chemical Solutions, put more focus on the circular economy in their portfolio development and the launch of new products in 2024. This will give insight into the wider trend in the industry for eco-friendly solutions, where investments by firms are increasingly being made in biobased feedstocks to meet rising demand. This has mainly been driven by regulatory pressures and increasingly demanding consumers who want greener products, and such pressures have driven a significant reduction in chemical waste and higher-end technologies that improve fabric quality while reducing environmental impact, such as enzyme-based chemicals.
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Key Players :
- AkzoNobel NV (Interpon powder coatings, Bonderite chemical pretreatment)
- Archroma (Livaqua dyes, Smartrepel Eco water repellents)
- Covestro (Desmophen polyols, Bayhydur crosslinkers)
- Croda International Plc (Crodasurf surfactants, Crodapearl emulsifiers)
- DowDuPont (DOWSIL silicone additives, BETASEAL adhesives)
- Evonik Industries (TEGO textile additives, AEROSIL fumed silica)
- FCL (FCL Textile Dyes, FCL Auxiliaries)
- Huntsman International LLC (Avalon dyes, Syntheton textile chemicals)
- Indofil (IndoPrint dyes, Indosperse dispersing agents)
- Kemin Industries (Kemin Dyestuff, Kemin Textile Treatments)
- OMNOVA Solutions Inc (Nexis functional additives, VITEL thermoplastic elastomers)
- Rudolf GmbH (Rudolf Group Textile Finishing Agents, Eco-Pearl water repellents)
- TANATEX Chemicals B.V. (Tanatex Textile Auxiliaries, Tanacoat finishing agents)
- GIOVANNI BOZZETTO S.p.A. (Bozzetto dyes, Bozzetto finishing agents)
- BASF SE (BASF textile dyes, Ecolab cleaning agents)
- Clariant International Ltd (Clariant dyes, Clariant textile chemicals)
- Dystar Group (DyStar dyes, Texapret textile auxiliaries)
- Sarex Chemicals (Sarex dyes, Sarex finishing agents)
- Wacker Chemie AG (Wacker silicone emulsions, Wacker textile finishing agents)
- Zschimmer & Schwarz (Zschimmer textile dyes, Zschimmer & Schwarz auxiliaries)
However, the market does have its challenges with the high raw material costs and complexities in the formulation of eco-friendly alternatives. Companies operating in the industry invest in research and development to develop cost-effective solutions that enable their output to meet regulatory standards, as well as satisfy consumers' preferences. Innovation will continue to propel growth in the market within the next few years, owing to increased cases of firms capable of producing advanced and sustainable textile chemicals competitively placing themselves in the market, which increasingly is tuned to environmental responsibility.
Segment Analysis
The finishing agents segment dominated the textile chemicals market and accounted for an estimated 40% share in the year 2023, driven by the growing need for high-performance and specialty chemicals that enhance fabric properties, including water repellency, wrinkle resistance, and colorfastness. For example, water-repellent finishing agents would have to be served in the line of production related to outdoor and sportswear because of the demands for durability and protection against elemental factors. The emergent trend in functional textiles increases the demand for high-added-value finishing agents, including attributes such as UV protection and antibacterial effects. The segment of finishing agents will continue to dominate the textile chemicals market because of the continuous demand for high-quality and multi-functional fabrics by consumers.
Key Segments:
By Fiber Type
- Natural Fiber
- Synthetic Fiber
By Product Type
- Coating & Sizing Agents
- Colorants & Auxiliaries
- Finishing Agents
- Surfactants
- Desizing Agents
- Bleaching Agents
- Denim Finishing Agents
- Others
By Application
- Apparel
- Home Textile
- Technical Textile
- Others
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Trends Analysis: Textile Chemicals Market
A great trend toward sustainability is observed in the textile chemistries market, with more and more noticeable reductions in the environmental impact of chemical use during the production of textiles. It is contributing to the application of biobased feedstocks based on renewable resources, and their higher share is, in turn, crucial feedstock materials that will be more sustainable than materials based on petrochemicals traditionally used. Besides that, several companies are using reprocessed products or wastes for the development of new textile chemicals in a circular manner. Further, high demand is likely to emerge for multi-functional textile chemicals that guarantee value addition in performance and durability, impelled by consumer liking for high-quality and sustainable textiles. This aspect is more visible in sporting and outdoor wear garments because people give more importance to durability and functionality in such garments.
Recent Developments
- April 2024: BASF SE announced the company's portfolio of polyamides for the textile industry. The company's sustainable polyamide PA6 and PA6.6 product range have been certified under the Recycled Claim Standard -Textile applications. This certification gives the right to BASF SE to market textiles produced using recycled raw materials.
- October 2024: Researchers developed water-proof coatings from textile waste, thereby inducting sustainability into the textile chemicals industry.
- January 2023: Ten multinational companies invested Tk 2,000 crore in textile chemicals showing a robust commitment toward increasing production capacity and sustainability to the industry.
- May 2023: Dystar announced its eco-advanced indigo dyeing, which can potentially reduce energy consumption by up to 30% and water usage by up to 90% in the production process.
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Regional Analysis
In 2023, the Asia-Pacific region dominated and accounted for the maximum share of around 45% of the global textile chemicals market. This is majorly owing to the strong textile manufacturing base in the region, much of which is in countries such as China, India, and Bangladesh. These countries are not only significant producers of textiles but also huge consumers of textile chemicals given the large-scale production of various garments and other textile products. The Indian textile industry has witnessed rapid growth in recent times, partly supported by favorable government policy and investments that aim at sustainable textile production. Growth in the industry is used by market participants to launch new products in the market by appealing to regional demand for sustainable and high-performance chemicals. Similarly, China has quickly embraced new textile technologies and is often at the top position in the globe.
Summary
The textile chemicals market forms an integral part of the textile industry as it involves an extensive portfolio of products intended for use in multiple stages of manufacturing. They involve dyes and finishing agents among other chemicals meant to add color, and durability, as well as stain and wrinkle resistance. This new requirement for ecological and environmental-friendly answers toward the textile industry becomes a thrust for innovations within the textile industry. The need to acquire biodegradable and nontoxic chemicals gives manufacturers all the leverage to make environmentally friendly products. This therefore calls for growth in the textile industry, and hence, high-performance and specialty chemicals. This is a market that should drive growth in the forecast period.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Textile Chemicals Market Segmentation, by Fiber Type
8. Textile Chemicals Market Segmentation, by Product Type
9. Textile Chemicals Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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