Global textile chemicals market are increasing demand from fashion industry and for fashionable products and rising production of floor coverings and home furnishing.
Textile Chemicals Market
Global Textile Chemicals Market Report, published by Variant Market Research, forecast that the global market is expected to reach $31.3 Billion by 2024 from $23.8 Billion in 2016, growing at a CAGR of 3.5% from 2016 to 2024. By geography, North America and Europe are expected to grow at a CAGR of 4.2% and 3.7%, respectively, during the forecast period.
Major factors driving the growth of the global textile chemicals market are increasing demand from fashion industry and for fashionable products and rising production of floor coverings and home furnishing. However, harmful effects of chemicals on human health and environment may restrain the growth of the market. Additionally, market expansion and eco-friendly, natural, and organic textiles would provide future scope for the market players during forecast period.
Global textile chemicals market has been segmented into product, application, and geography. The product includes coating and sizing chemicals, colorants and auxiliaries, finishing agents, surfactants, desizing agents, yarn lubricants, and bleaching agents. Coatings and sizing chemicals held for the highest market share in 2016. Application segment comprises home furnishing, apparel industrial, and industrial & others applications.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific accounted the maximum share with 46.1% in 2016, followed by North America with 21.5%. In terms of growth, North America would dominate with fastest CAGR, driven by, expanding apparels and industrial textiles and need for eco-friendly products.
Major companies operating in this market segment include Huntsman International LLC, OMNOVA Solutions Inc., The Dow Chemical Company, The DyStar Group, Lonsen Inc., Pulcra Chemicals GmbH, Solvay SA, Archroma, Covestro AG, and Kiri Industries Ltd., among others.
Scope of Textile Chemicals Market
- Coating and Sizing Chemicals
- Colorants and Auxiliaries
- Desizing Agents
- Finishing Agents
- Yarn Lubricants
- Bleaching Agents
- Home Furnishing
- Industrial & Other Applications
- Apparel Industrial