Textile chemicals for technical textiles are chemical products used in the processing of technical textiles. Technical textile is a smart textile that finds a wide range of applications across various industries. Automotive applications, medical, protective clothing, construction, and agro textiles are some of the major applications of technical textiles.
The global textile chemicals for technical textiles market was estimated to be valued more than US$ 6.7 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 4.0% during the forecast period (2020 to 2027).
Rising demand for home tech textiles is primarily fueling the market growth of the textile chemicals for technical textiles. These textiles are used across furniture, interior decoration, carpeting, cushion materials, fireproofing, textile reinforced structures, and floor &wall coverings. These textiles are produced from both natural as well as synthetic fibers and is used across the domestic environment for providing comfort, hygiene, and modern solution for living rooms. Thus growing demand for home tech textiles is fueling the market growth.
Robust growth in the automotive industry around the globe due to the increasing production of automobiles is propelling the market growth of textile chemicals for technical textiles. Technical textiles are widely used in the production of automobiles components such as seat belts, covers, carpets, and other interior components. Automobiles component with technical textile enhance the performance of the vehicles and also offer an aesthetic look. Thus growing demand for technical textiles from the automobiles industry is projected to propel the market growth of the textile chemicals for technical textiles over the forecast period.
Rising environmental concerns as these chemicals pose various threats to the environment is projected to hinder the market growth. Moreover, lots of wastewater is generated from the textile industry during processing which needs to be treated before dispose of in environment as they may lead to water pollution.
On the basis of application, coating & sizing chemicals dominated the global textile chemicals for technical textile market in 2019 with around 30% of market share in terms of revenue, followed by colorants & auxiliaries and finishing agents, respectively.
Rise in the PackTech industry around the globe due to growing consumerism is projected to foster market growth over the forecast period. PackTech includes the packaging of the products with polyolefin woven sacks, wrapping fabric, and jute hessian & sacks. These materials ensure scratch-free safe handling of sensitive product. The growing need for the safety of the product during transportation is creating demand for PackTech products. This is in turn is augmenting the market growth of textile chemicals for technical textiles.
Increasing demand for sports apparel is propelling the demand for technical textiles. An increasing number of people participating in the sports activities due to growing health wellness trend is again expected to foster the market growth of technical textiles. This textile is used to produce apparel such as a t-shirt, helmet, footwear, protective wear, tennis, etc. Thus, the rising demand for sports apparel is augmenting the market growth of the textile chemicals for technical textiles.
Global Textile Chemicals for Technical Textiles Market - Impact of Coronavirus (Covid-19) Pandemic
The global spread of (Covid-19) Pandemic has resulted in lockdown measures, and cease in economic activities which has severely impacted the manufacturing sector. In addition to this, inadequate supply of raw materials will lead to rapid price fluctuation. Disruptions in supply of raw materials owing to the logistics industry being significantly impacted due to lockdown amid COVID-19 is expected to hinder the growth of the global textile chemicals for technical textiles market till the period of 2021.
Key players are operating in the global textile chemicals for technical textiles market are The DyStar Group, The Lubrizol Corporation, The Dow Chemical Company, Huntsman Corporation, Kiri Industries Limited, Zhejiang Longsheng Group Co., Ltd. (Lonsen), BASF SE, Archroma LLC, OMNOVA Solutions Inc., Solvay S.A., and Bayer MaterialScience AG
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