Westford, USA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The global Textile Chemicals market size is expected to reach USD 36.12 billion by 2030 and exhibit a CAGR of 4.7% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing textile industry, especially in emerging economies, creates a steady demand for textile chemicals to enhance the production process and achieve desired fabric properties. The increasing adoption of advanced and innovative textile materials, such as technical textiles and smart textiles, necessitates the use of specialized chemicals to impart specific functionalities fuels the market's growth.
According to SkyQuest's latest global research of the Textile Chemicals market, growing demand for eco-friendly and sustainable textile chemicals reflects the industry's increasing focus on environmental responsibility and green practices. The trend of digitization and automation in textile manufacturing processes drives the adoption of specialty chemicals and auxiliaries that enhance production efficiency and product quality are the trends that aid in the market's growth.
Browse in-depth TOC on "Textile Chemicals Market"
- Pages - 157
- Tables - 68
- Figures -75
Textile chemicals are chemicals used in the production, processing, and finishing of textiles. They are used to improve the properties of textiles, such as their strength, durability, color, and luster.
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Prominent Players in Textile Chemicals Market
- Archroma
- DyStar
- Huntsman
- CHT
- Sumitomo Chemical
- Lanxess
- BASF
- Evonik Industries
- Kiri Industries
- Lubrizol
- AkzoNobel
- Clariant
- Kemira
- DowDuPont
- Croda
- Tata Chemicals
- Zschimmer & Schwarz
- Sappi
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 25.01 billion |
| 2030 Value Projection | 36.12 billion |
| CAGR | 4.7% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Colorants and Auxiliaries Demand to Grow Substantially in the Forecast Period
Colorants and Auxiliaries dominated the global online market as colorants, such as dyes and pigments, are essential for adding vibrant and long-lasting colors to textiles. Auxiliaries are chemicals used alongside colorants to enhance dyeing and printing processes, improve color fastness, and impart specific functionalities to fabrics, such as softness, water repellency, and antimicrobial properties. The global demand for colored textiles and innovative finishes in the fashion and home textile industries has driven the significant presence of colorants and auxiliaries in the market.
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Apparel is the Leading Application Segment
In terms of application, Apparel is the leading segment as it demands a wide range of finishes, colors, and functionalities to meet consumer preferences and fashion trends. Textile chemicals play a crucial role in dyeing, printing, and finishing processes to produce vibrant and innovative textiles for clothing and fashion products. The continuous evolution of fashion trends and the need for high-performance and functional textiles drive the demand for a variety of chemicals in the apparel industry.
Asia Pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia Pacific is one of the largest growing markets with a huge emphasis on technological advancements. The region's large and growing textile industry, particularly in countries like China, India, and Bangladesh, has contributed to its prominence. Asia Pacific is a major hub for textile manufacturing and exports, and the demand for textile chemicals is driven by the region's extensive textile production activities. Additionally, Asia Pacific's abundant availability of raw materials and relatively lower production costs have attracted significant investments in the textile chemicals industry.
A recent report thoroughly analyzes the major players operating within the Textile Chemicals market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Textile Chemicals.
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Key Developments in Textile Chemicals Market
- In February 2023, Huntsman Corporation acquired Clariant AG's Textile Specialties business. This acquisition gave Huntsman a major player in the textile chemicals market. Clariant's Textile Specialties business is a leading provider of dyeing and finishing agents, and it has a strong track record of innovation. This acquisition will allow Huntsman to expand its product offerings and reach new markets.
- In March 2023, Archroma AG acquired DyStar Group. This acquisition gave Archroma a major player in the textile dyeing and pigment market. DyStar is a leading provider of dyeing and pigment systems, and it has a strong track record of innovation. This acquisition will allow Archroma to expand its product offerings and reach new markets.
Key Questions Answered in Textile Chemicals Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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