Asia Textile Chemicals Market
Textile chemicals includes different chemicals such as complexing agents, surfactants, wetting agents, sequestering agents, dispersing agents, emulsifiers, dyes, dye protective agents, fixing agents, leveling agents, pH regulators, carriers and UV absorbers which are used in the textile industry. It majorly finds application in the apparel and home furnishing industry.
Market Dynamics
Growing apparel and textile industry is a major factor driving growth of the textile chemicals market in the Asia Pacific region. For instance, according to the India Brand Equity Foundation (IBEF), Ministry of Commerce & Industry, Government of India, the textile and apparel industry in India was valued at US$ 108 billion in 2015 which increased to US$ 150 billion in 2015. In addition, exports of textiles and apparels in 2016 was US$ 36.75 billion and is expected to reach US$ 82 billion in 2021, according to IBEF.
The Asia textile chemical market is estimated to account for US$ 1,0811.0 Mn in terms of value by the end of 2019.
However, toxicity of textile chemicals which includes carcinogenic effect and genetic mutations is expected to hinder growth of the textile chemicals market.
China dominated the global textile chemical market in 2019, accounting for 60% share in terms of value, followed by Rest of Asia and India, respectively. This is attributed to the growing apparel demand and growing production of fabrics and yarns in China.
Key features of the study
Market Segmentation
Table of Contents
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