Global Textile Chemicals Market Driven by Increasing Demand for Technical Textiles, Apparel
Albany, New York, June 21, 2016: Market Research Reports Search Engine (MRRSE) has added a new report to its growing market intelligence catalog. The report analyzes the global textile chemicals market and presents forecasts regarding the market’s development from 2016 to 2024. The report includes reliable data gathered from industry-best databases and profiles the market using relevant and industry-standard analytical tools.
The report, authored by Transparency Market Research, is titled ‘Textile Chemicals (Coating & Sizing Chemicals, Colorants & Auxiliaries, Finishing Agents, Surfactants, Desizing Agents, Bleaching Agents, and Yarn Lubricants) Market for Home Furnishing, Apparels, and Industrial & Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024’ and is available for sale on MRRSE’s official website.
According to the report, the global textile chemicals market’s valuation was more than US$21 bn in 2015. Exhibiting a steady CAGR of 3.7% from 2016 to 2024, the market is expected to rise to a valuation of more than US$29 bn.
Textile chemicals are a group of chemicals used to enhance particular functional properties of textiles. Textile chemicals are used in the manufacture of regular as well as technical textiles. In the latter application, textile chemicals are especially useful, as they provide focused benefits depending on the application of the textiles in question.
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The rising demand for technical textiles, particularly in agrotech, is a major growth driver for the global textile chemicals market. Due to the increased importance of the functional enhancement offered by textile chemicals in technical textiles, the market for the latter has emerged as a major consumer of textile chemicals.
By product type, the global textile chemicals market is segmented into finishing agents, coating and sizing chemicals, desizing agents, yarn lubricants, colorants and auxiliaries, surfactants, and bleaching agents. Of these, coating and sizing chemicals took up the largest share in the global textile chemicals market in 2015. Coating and sizing chemicals are responsible for achieved the desired appearance and texture of various types of fabrics. Apart from coating and sizing chemicals, colorants and auxiliaries are another major segment of the global textile chemicals market due to their ubiquitous use in the manufacture of a large variety of colored fabrics.
In the coming years, finishing agents are expected to exhibit the fastest growth rate of all product segments of the global textile chemicals market. The increasing need to enhance the final appearance of fabrics and protect them from degeneration is responsible for the increasing demand for finishing agents.
The increasing awareness about the environmental impact of textile chemicals is a major restraint on the global market at present. While this has currently become a bottleneck for the industry, success in developing eco-friendly textile chemicals will have a major role to play in determining the competitive landscape of the global textile chemicals market in the coming years.
By application, home furnishing was the largest segment of the global textile chemicals market in 2015. The increasing demand for new construction in emerging regions is a major cause of the growing demand for home furnishing and the chemicals used therein. Other major application segments of the global textile chemicals market are apparel and industrial.
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Regionally, the report segments the global textile chemicals market into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. The report provides a detailed analysis of the national textile chemicals markets in major countries such as the U.S., Germany, the U.K., China, India, Italy, Spain, Brazil, France, South Africa, and the GCC countries.
Key textile chemicals market players examined in the report include The Dow Chemical Company, Huntsman International LLC, Solvay SA, The DyStar Group, Covestro AG, The Lubrizol Corporation, Kiri Industries Ltd., and OMNOVA Solutions Inc.
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