Textile Chemical Market Is Anticipated to Reach US$31.90 Bn by 2026
Wednesday, September 25, 2019
Press release from the issuing company
Global Textile Chemical Market was sized US$25 Bn in 2017 and is anticipated to reach US$31.90 Bn by 2026 at a CAGR of about 2.75 % during a forecast Period.
Global Textile Chemical market is segmented by fiber, by product, application and by region. In terms of fiber, Natural and Synthetic fibers. Coating & Sizing Chemicals, Colorants & Auxiliaries, Finishing Agents, Surfactants, Desizing Agents and Others are the product segment of the textile chemical market. Fertilizers, Industrial application, Food Additive, Pharmaceutical and Others are application segment of Textile Chemical market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Textile chemicals include a vast line of products ranging from highly specialized chemicals, such as flame-retardants, pH regulators to relatively simple commodity chemicals, like bleaches. They are an integral part of various commercial and industrial sectors, where any sort of fabric is used in operation.
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Based on Fiber, Synthetic fiber is estimated to lead the overall textile chemicals market in 2017. The large share of synthetic fiber is due to their wide usage in different applications, better performance, and cost-effectiveness. Moreover, synthetic fibers are more durable than natural fibers and can easily pick up dyes.
The apparel segment was estimated to be the largest consumer of textile chemicals in 2017. The large market share of this segment is due to the extensive use of textile chemicals in outerwear and sportswear. Apparel production is a springboard for national development. It is expected to remain the single-largest and fastest-growing market for coming years.
In terms of consumption in 2017, Asia-Pacific accounts for more than 45% of the market followed by North America and Europe. The high consumption of textile chemicals in the region is attributed to rapid industrialization, improving economic conditions, supportive government policies, availability of cheap labour, and increasing exports. In addition, growing population, per capita income, and changing lifestyle in the region are driving the textile industry, which in turn, support the textile chemicals market.
BASF SE, Bayer AG, Dow Chemical Company, Huntsman International LLC, and Sumitomo Chemicals Co Ltd, Kiri Industries Limited, Kemira, Omnova Solutions Lubrizol Corporation, Evonik Industries, Archroma, Tanatex Chemicals DowDuPont, DyStar Group, Wacker Chemie AG, Rudolf Group Bozzetto Group are key players included in the textile chemical market.
The Scope of Global Textile Chemical Market:
Global Textile Chemical Market by Product:
Coating & Sizing Chemicals
Colorants & Auxiliaries
Global Textile Chemical Market by Application:
Global Textile Chemical Market by Fiber:
Global Textile Chemical Market by Region:
Middle East & Africa
Key Player Analyzed in the Textile Chemical Market Report:
Dow Chemical Company
Huntsman International LLC
Sumitomo Chemicals Co Ltd
Kiri Industries Limited
Omnova Solutions Lubrizol Corporation
Wacker Chemie AG
Rudolf Group Bozzetto Group
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