Textile Chemicals are compounds that treat materials during diverse manufacturing processes, from fiber treatment to finishing, and include stages like washing, scouring, dyeing, mercerizing, printing, and finishing, among others. Across the textile industry, these chemicals play a significance in achieving pre-defined textile properties, due to which these compounds have also become paramount for textile & apparel industries worldwide.
Market Insights & Analysis: Global Textile Chemicals Market (2023-28)
The Global Textile Chemicals Market is expected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. Most of the market growth is driven by the exponentially rising population and the consequent increase in the consumption of apparel & textiles worldwide. Besides, the globally flourishing fashion industry and the emergence of various trends, coupled with the improving disposable income of people, are also amplifying the sales of clothing and, in turn, stimulating the growth of the market.
In addition, a rapid shift in consumer preference toward buying foreign textile brands is also augmenting the demand for these chemicals and contributing to the overall market growth. Backed by the presence of such lucrative opportunities, the leading players in the market are also showcasing their active participation and widening their production & distribution capacities to cater to the burgeoning demands globally.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Indonesia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA|
|Key Companies Profiled||Kiri Industries Ltd., OMNOVA Solutions Inc., German Chemicals Ltd., AB Enzymes, Organic Dyes and Pigments, Govi N.V., Resil Chemicals Pvt. Ltd., LANXESS, Dow, BASF SE, Huntsman International LLC, The Lubrizol Corporation, Archroma, Omya United Chemicals, BioTex Malaysia, Others|
|Unit Denominations||USD Million/Billion|
In fact, several players are also utilizing green or bio-based chemicals, developed from renewable or readily available resources, which are non-flammable & biodegradable. Since these products have low toxicity & lower tendency to undergo bioaccumulation in the environment, it is likely to hold a significant growth potential for market expansion in the coming years.
Global Textile Chemicals Market Key Trend:
Increasing Utilization of Sustainable Products in Textile Manufacturing - Backed by the stringent regulations imposed by the governments of different countries to bring environmental sustainability, numerous textile & chemical manufacturers are showing a keen inclination toward the use of green chemicals. Besides, a greater focus on achieving sustainability goals in countries is also encouraging & promoting the use of sustainable chemicals, hinting toward potential growth opportunities in the textile chemicals market during the forecast period.
Global Textile Chemicals Industry Recent Developments
Global Textile Chemicals Market (2023-28): Segmentation Analysis
The Global Textile Chemicals Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the Product, and Application the market has been further classified as:
Based on Product:
Among all, Coating and Sizing Chemicals dominated the market with the largest share in the previous years and is anticipated to prevail in the same trend during the forecast period. This dominance attributes to the propelling demand for these chemicals due to their properties to provide waterproofing, fire resistance, stain repellence, and other features to substances. Besides,
These chemicals are likely to seek booming utilization to cater to the increasing demand for flame retardant, UV protection, and other protective coatings. The same aspect is demonstrating the increasing demand for these chemicals and generating lucrative opportunities for the players to widen their production & distribution capacities and cater to the rising need in the coming years.
On the other hand, Finishing Agents are anticipated to make significant contributions to the overall market expansion during the forecast period. This growth is backed by the presence & capabilities of enzymes, softeners, anti-back staining agents, and bleaching agents. These are particularly in high utilization across the textile industry. Moreover, since these agents are also excellent in offering efficient pretreatment of fabric for reproducible uniformity in processes like printing & dyeing, their demand is likely to remain prevalent during the forecast period.
Based on Application:
Here, Apparel is anticipated to dominate the market with the largest share during the forecast period. This dominance is backed by the swift improvement in the economic conditions of people and their progressive disposable income, demonstrating a high purchase rate for apparel. Besides, with the mounting population of millennials and Gen Z influenced by social media & fashion icons, alongside the expansion of the e-commerce industry, the demand for Textile Chemicals is anticipated to witness an upsurge and positively influence the overall market growth.
Moreover, different textile chemicals are in apparel production, including mercerizing agents, peroxide stabilizers, dyes, dispersants, leveling agents, soaping agents, thickeners, binders, softeners, and pretreatment chemicals, among others. In the same view, several leading players are indulging themselves in developing & adopting environment-friendly processes. It is also hinting toward an opportunistic future for the market during the forecast period.
Global Textile Chemicals Market Regional Projection
Geographically, the Global Textile Chemicals Market expands across:
Of all countries globally, Europe is anticipated to make significant contributions to the overall market growth and offer lucrative opportunities for the players during the forecast period. This expansion is backed by the presence of major economies such as Germany, the U.K., France, Spain, Italy, and Russia, entwined with their supportive policies for the textile industry.
On the other hand, Asia-Pacific dominated the market with the largest share in the previous years and is anticipated to prevail in the same trend during the forecast period. This dominance attributes to the substantial textile and automotive industry in the region, particularly across countries like China, India, & Japan. It, in turn, is also augmenting the demand for Textile Chemicals and directly influencing the market.
The same aspect is also generating lucrative opportunities for the players to widen their production and distribution capacities and cater to the burgeoning requirements throughout the region. In the region, China is dominating the industry with the largest share, backed by the massive automotive industry. With its substantial car manufacturing capacities.
Global Textile Chemicals Market Key Driver:
Mounting Prevalence of Technical Textiles Worldwide - Technical textiles that exhibit enhanced elasticity, anti-dust & insulation properties, thermal & fire & mechanical resistance, as well as resistance to UV & IR provide unique characteristics, which widely differ from the normal fabric. They are used generally for non-aesthetic applications in packaging, medical & personal hygiene, automobiles, agriculture, industrial, and sports & leisure, among other industries, which are expanding at a significant rate globally. Hence, the massively growing demand for technical textiles worldwide is projected to act as a major growth driver for the Global Textile Chemicals Market during 2023-28.
Global Textile Chemicals Market Growth Restraint:
Severe Effects of Chemicals on the Environment & Human Health - Wastewater that contains dyes negatively impacts the photosynthesis phenomenon of aquatic species and, in turn, hampers the ecosystem of water resources. Moreover, prolonged contact of textile chemicals with humans results in their absorption into the skin and, consequently, skin allergies & even severe diseases. As a result, governments worldwide have imposed stringent norms on the use of these chemicals, which is the most prominent growth restraint for the Global Textile Chemicals Market.
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Frequently Asked Questions
A. The Textile Chemicals Market is projected to grow at a CAGR of around 4.1% during 2023-28.
A. The growing population levels, the emergence of various fashion trends, and significantly improving disposable incomes of people are the prime aspects projected to drive the Textile Chemicals Market during 2023-28.
A. Kiri Industries Ltd., OMNOVA Solutions Inc., German Chemicals Ltd., AB Enzymes, Organic Dyes and Pigments, Govi N.V., Resil Chemicals Pvt. Ltd., LANXESS, Dow, BASF SE, Cosmo Specialty Chemicals Private Limited, Huntsman International LLC, The Lubrizol Corporation, Archroma, Omya United Chemicals, and BioTex Malaysia are the key companies participating in the Textile Chemicals Market.
A. Apparel would provide profitable opportunities to the Textile Chemicals Market during 2023-28.
A. Europe would generate remunerative prospects for the Textile Chemicals Market during 2023-28.
Global Textile Chemicals Market Research Report (2023-2028) - Table of Contents