Global Textile Chemicals Market: Key Highlights
- According to United Nations’ projections, global population is estimated to reach 8.5 billion by 2030, and further exceed 9 billion by 2050. The consumption of textiles depends directly on the growth of population and consumer spending levels.
- In terms of demand, Asia Pacific led the global textile chemicals market in 2018, and the same trend is anticipated to continue throughout 2019 and 2027. Changing consumer needs and an evolving retail marketplace are factors driving the apparel sector in Asia Pacific. The apparel sector in Asia Pacific is projected to expand at a CAGR of nearly 5% during the forecast period.
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Global Textile Chemicals Market: Key Drivers and Opportunities
- Focus on enhancing the functional quality of textile chemicals and cost reduction are likely to be key factors driving the global textile chemicals market in the next decade.
- Major players operating in the global home textiles industry, such as IKEA and H&M Home, are expanding their presence in Asia Pacific in order to tap immense opportunities in the region. Moreover, the advent of e-Commerce in the home furnishing sector is expected to boost the home furnishing textiles segment in the global textile chemicals market during the forecast period.
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Global Textile Chemicals Market – Competition Landscape
- The global textile chemicals market was moderately consolidated in 2018. Due to the presence of well-established manufacturers in the textile chemicals market, and their expansion initiatives, the global textile chemicals market is estimated to be highly competitive during the forecast period.
- Major manufacturers in the textile chemicals market include Archroma, Lonsen Inc., Huntsman, CHT Group, Solvay, and Evonik Industries AG.
Global Textile Chemicals Market – Segmentation
Textile Chemicals Market by Product
- Coating & Sizing Chemicals
- Wetting Agents
- Defoamers
- Others (Softening Agents, Adhesives, and Antimicrobial Agents)
- Dyes & Dyestuff
- Acid Dyes
- Basic Dyes
- Direct Dyes
- Disperse Dyes
- Reactive Dyes
- Sulfur Dyes
- Vat Dyes
- Others (Mordant Dyes, Azo Dyes, etc.)
- Finishing Agents
- Surfactants
- De-sizing Agents
- Bleaching Agents
- Yarn Lubricants
- Others (Scouring Agents, Leveling Agents, Fixing Agents, etc.)
Textile Chemicals Market by Application
- Home Furnishing Textiles
- Carpets & Rugs
- Furniture
- Others
- Technical Textiles
- Agrotech
- Geotech
- Meditech
- Others (Buildtech, Clothtech, Hometech, etc.)
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