Definition of Market/Industry: Textile chemicals are agents that are primarily used to impart color to the fabric and improve the quality of the finished product. They are categorized based product type into auxiliaries and colorants. Their application area includes apparel, home furnishing, and others. Textile chemical improves the comfort and downstream processing and removes the natural impurity present in the textile. They have application across the healthcare industry, apparel industry, home furnishing, and automotive, and transportation sector. Statistics: Asia textile chemicals market is estimated to account for US$ 10,811.0 Mn in terms of value by the end of 2019 Drivers: Presence of strong textile and apparel market in the Asia Pacific region is expected to serve as another major driving factor to the market of textile chemicals. Moreover, growing demand for functional finishes from various industries which have raised the demand for specific finishing chemicals as they are used to impart excellent properties of imparting bacterial resistance and flame resistance, thereby augmenting the market growth of textile chemicals. Also, the presence of a strong distribution network is further expected to fuel the market growth of textile chemicals. Market Opportunities Opportunity Increasing launch of new product in the market due to intense competition which has compelled the manufacturer to introduce differentiated products and brands for preventing commoditization of their offerings. This factor is projected to boost the market growth of textile chemicals over the forecast period. Rising adoption of restructuring business in few countries when the market has attained maturity is also protected to foster the market growth of the textile chemical. Market Restraints The lengthy production process as it includes a long multistep chain with a large number of chemically heterogeneous compounds which leads to environmental pollution by discharging in wastewater is presumed to hinder the market growth of textile chemicals. Moreover, various textile process lack quality-control systems for contaminants present in the raw fiber and some colorants are carcinogenic in nature. This factor is projected to limit the market growth of textile chemical over the forecast period. Key Takeaways: Among product type, auxiliaries segment was valued at US$ 5,739.2 Mn in 2019 and is forecast to reach a value of US$ 11,470.1 Mn by 2027 at a CAGR of 8.0% between 2019 and 2027 owing to increasing uses of textile auxiliaries for dying and washing of fabrics and yarns. Apparel end use type segment dominated the global textile chemicals market in 2019, accounting for 51% share in terms of value, followed by home furnishing. This is attributed to growing apparel industry due to growing consumer demand and changing fashion trends. Dyeing process type segment dominated the global textile chemicals market in 2019, accounting for 32.7% share in terms of value, followed by finishing and pre-treatment, respectively. Rise in demand for colorful apparels and fabrics is driving growth of this segment. Market Trends Increasing the launch of innovative and advanced dyes for the coloring fabric is projected to fuel the market growth of textile chemicals. For instance, in May 2017, DyStar Group is a solution provider, offering customers globally a complete range of colorants, auxiliaries, and services with the broadest product range on the market, covering almost all fibers and quality specifications. DyStar presents its latest product innovations and new technologies at Techtextil in Hall 6.1 – Booth C40 for Work Wear, Automotive, Sun Protection, and Military Textiles. Rising launch of new and advanced technology for coloring fabric is expected to serve immense growth to the market over the forecast period. Moreover, increasing the focus of the government to introduce high-end technology for producing textiles is another major factor fueling the market growth of textile chemicals. For instance, in October 2018, Huntsman Corp. launched UNIVADINE E3-3D, an eco-friendly, next-generation diffusion accelerant. UNIVADINE E3-3D accelerant is low-odor and free from hazardous components such as benzyl benzoate. Competitive Section: Company Names Players active in the market are Huntsman Corporation, Archroma Management LLC, and DyStar Group Few Recent Developments Archroma Management LLC
Segmentation By Region
By Product Type
Joining thousands of companies around the world committed to making the Excellent Business Solutions.