Market Definition
At various stages of the manufacturing process, from fiber pre-treatment to textile finishing, textile chemicals are utilized to treat textile material. There are several steps in producing textile chemicals, such as washing, scouring, mercerizing, dyeing, printing, and finishing.
Market Insights
The India Textile Chemicals Market is projected to grow at a CAGR of around 11% during the forecast period, i.e., 2023-28. A robust domestic consumption and export growth coupled with an increase in import substitution drive the market across various end-user industries. From June 2017 to May 2018, the textile industry received nearly $4 billion in investments, according to the India Brand Equity Foundation with continuous partnerships, investments, and mergers, key players like Archroma, Croda, Huntsman, Rossari, and others are expanding their portfolios to cater to the emerging needs of the textile market. Besides, through internal investments in R&D, manufacturing and service capabilities, and innovative chemicals, these companies are all set to put a strong foothold in the Indian market. For instance,
An India-based company, Cosmo Speciality Chemicals, has launched Silky SF, a cationic softener that exhibits excellent softening effects on all kinds of textiles. Apart from offering a smooth touch, the latest product is pocket-friendly. In order to manufacture products at such a molecular level, the companies' R&D facility is equipped with sophisticated analytical instrumentations that include DMA, FTIR & imaging IR, SEM-EDS, TGA-MS, DSC & optical microscope, etc.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 11% |
| Country Covered | North, South, East, West, Central |
| Key Companies Profiled | Archroma India Pvt. Ltd., Croda, Huntsman International, Rossari Biotech Ltd., CHT India Pvt. Ltd., Kiri Industries, Bodal Chemicals, Indofil Industries, Fibro Organic, Jaysynth Dyestuff, Others |
| Unit Denominations | USD Million/Billion |
Moreover, with the advent and expansion of industries in India, the demand for Technical Textiles has been on the rise. Technical textiles generally require high-performance chemicals such as auxiliaries to function efficiently, and the automotive industry being the major end-user, further facilitates the industry ascension. As such, the increasing production of vehicles in the automotive sector is anticipated to boost the demand for textile auxiliaries in the years to come.
On the other hand, due to the fragmented nature of the industry, The Apparel Industry in India needs more significant fabric makers compared with major fabric producers like China and USA. Besides, inadequate weaving units in the country emerge as lucrative prospects for the market players willing to set up such units. In fact, introducing innovative chemicals suiting various fabrics' needs seems opportunistic. For instance,
Sarex, during the pandemic, launched two specialty chemicals, SARAGUARD 5700 and SARAGUARD FL, specifically engineered to fight the Coronavirus. SARAGURD FL is the first entirely 'Made in India' anti-bacterial and anti-viral agent for all textiles as well as their blends. With their enhanced durability in multiple home laundry washes, two chemicals are best suited for masks and PPE kits for medical personnel.
However, the ongoing fluctuations in crude oil prices and changing economic cycles remained challenging for cotton yarn and synthetic fiber manufacturers in maximizing their profit margins. It is primarily because synthetic textiles' raw materials are mainly derived from crude oil. These aspects pose risks to market growth in the coming years.
