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 valued at US$ 7.9 billion in terms of revenue in 2022 and is predicted to grow at a CAGR of 4.7 % during the forecast period (2023 to 2030).
Drivers
Rising demand for home tech textiles is fueling the global textile chemicals for technical textiles market growth. These textiles are used across furniture, interior decoration, carpeting, cushion materials, fireproofing, textile reinforced structures, and floor and wall coverings. They are produced from both natural as well as synthetic fibers and are used across the domestic environment for providing comfort, hygiene, and modern solutions for living rooms.
Market Opportunities
Robust growth in the automotive industry worldwide due to the increasing production of automobiles is boosting the global textile chemicals for technical textiles market growth. Technical textiles are widely used in the production of automobile components such as seat belts, covers, carpets, and other interior components. Automobile components with technical textile enhance the performance of vehicles and also offer an aesthetic look. Thus, the growing demand for technical textiles from the automobile industry is projected to propel the market growth over the forecast period.
Market Restraints
Rising environmental concerns as these chemicals pose various threats to the environment is projected to hinder the market growth. Moreover, a large amount of waste water 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.
To know the latest trends and insights prevalent in this market, click the link below:
Key Takeaways
On the basis of application, coating & sizing chemicals dominated the global textile chemicals for technical textiles market in 2022 with around 32% of market share in terms of revenue, followed by colorants & auxiliaries and finishing agents, respectively.
Market Trends
The growing PackTech industry around the globe due to increasing consumerism is projected to foster the market growth over the forecast period. PackTech includes the packaging of products with polyolefin woven sacks, wrapping fabric, and jute hessian and sacks. These materials ensure scratch-free safe handling of sensitive products. The growing need for ensuring the safety of product during transportation is boosting the demand for PackTech products. This, 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 are participating in the sports activities due to the growing health wellness trend, thereby driving the market growth of textile chemicals for technical textiles. This textile is used to produce apparel such as a t-shirts, helmets, footwear, and protective wear. 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 spread of the COVID-19 pandemic globally resulted in lockdown measures, thus ceasing economic activities that severely impacted the manufacturing sector. In addition to this, inadequate supply of raw materials led to rapid price fluctuations. Disruptions in the supply of raw materials owing to the logistics industry being significantly impacted due to lockdowns amid the COVID-19 pandemic hindered the growth of the global textile chemicals for technical textiles market in 2021.
Competitive Section
The key players 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.
Few Recent Developments
- In February 2021, Dow introduced innovative durable water-repellent finishing to enable increasingly sustainable textiles. DOWSIL IE-8749 Emulsion treatment improves fabric retention. Furthermore, DOWSIL IE-8749 Emulsion finish does not need to be regularly heat-treated to restore the water repellency performance, which is a key advantage in the durability of the final product. By incorporating DOWSIL IE-8749 Emulsion treatment in the finishing processes, textile finishers receive greater control over the final smooth feel of the fabric