The global textile chemical market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Key factors for the market growth include increase in demand for home furnishing products, on-going advancements in the textile chemicals, evolution of environmental friendly chemicals required by textiles industries, rise in development of apparel consumption, growing adoption of low VoC and biodegradable materials for textile manufacturing. However, fluctuating prices of raw materials and stringent environmental regulations regarding disposal of textile effluents are hindering the market growth.
Global textile chemical market segmented on the basis of product type, application and region.
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Home Furnishing Dominate the Global Textile Chemical Market
Based on application, global textile chemical market segmented into home furnishing, apparels and industrial & others. Home Furnishing held considerable market share during forecast period. Textile chemical industry also has great scope to flourish more because of the increasing demand of home furnishing products throughout the world. Home furnishing products such as sofas, carpets, curtains, chair containing cloth, and various other items requires processed cloth and fabric which are processed with textile chemicals. Many chemicals like bleach and other chemicals are heavily used to make the fabric stronger, durable, free of micro-organism, and also give the fabric a smooth and better texture and finish. Furnishing products converts a house into a home. This makes the furnishing industry directly linking to the textile chemical industry. That is why, textile chemical industry is very important for furnishing industry as well.
Asia Pacific Leads the Global Textile Chemical market
PBI’s global textile chemical market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global textile chemical market with considerable CAGR. The growth in this region can be attributed to introduction of latest technologies due to low production cost. Also, China is the major contributor for the market growth in the region as it is the largest producer and consumer of textile chemicals and it also exports these chemicals to developed regions like Europe and North America. Moreover, North America held significant market share during estimated period as there is an increased consumption of textile chemicals for application during various stages of fabric processing.
Strategic Launches are the key strategies adopted by market players
Global textile chemical market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in May 2019, Archroma launched Appretan NTR, a water-based textile coating binder based on renewable natural ingredients. In addition, the unique chemistry of this binder makes it resistant to water, mild solvents, oil and fat, and it also provides an increase in dry and wet tensile strength.
Key player’s profiles in the report are Archroma (Switzerland), Bozzetto Group (Italy), DowDuPont (US), DyStar Group (Singapore), Evonik Industries (Germany), Huntsman (US), Pulcra Chemicals (U.S), Rudolf Group (Germany), Sumitomo Chemical (Japan), Tanatex Chemicals (Netherlands) and Wacker Chemie AG (Germany).
Precision Business Insights (PBI) in its report titled “Global Textile Chemical Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
By Product Type
o Coating and Sizing Chemicals
o Finishing Agents
o Colorants and Auxiliaries
o Desizing Agents
o Yarn Lubricants
o Bleaching Agents
o Home Furnishing
o Industrial and Others
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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