Wilmington, Delaware, United States, June 13, 2022 (GLOBE NEWSWIRE) -- Products sales of textile chemicals market are growing on the back of the widespread usage of array of these specialty chemicals in pre-treatment, dyeing, printing, and finishing of textiles. Strides in apparel production globally and particularly in emerging economies have enriched textile chemicals market outlook. An in-depth study by TMR projects the global valuation to reach US$ 38.9 Bn by the end of 2031.
Emerging trends of the textile chemicals market indicate that stakeholders are increasingly focusing on sustainable chemistries to benefit from new value propositions in the textile industry. The use in apparel production underpins the largest opportunity for textile chemicals market. Rise in demand for various types of casual and formal wear and changing preferences of fashionwear are expected to spur uptick in sales, observed a study on the demand analysis of textile chemicals market.
Rapid pace of urbanization in various parts of the world has spurred the demand furniture upholstery, thereby catalyzing the prospects for textile chemicals’ commercialization globally. The demand for home furnishings will play a pivotal role in expanding the avenues for firms in the textile chemicals market.
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Key Findings of Textile Chemicals Market Study
- Stakeholders Lean on Sustainable Chemistries to Capture Value-grab Opportunities: Industry players in the textile chemicals market are seeking or pursuing sustainable chemistries. Chemical companies are capturing incredible avenues from the growing trend of environmental-friendly formulations in products. A number of them have expanded the array of non-hazardous textile chemicals in order to grow their market shares.
- Enormous Demand from Home Furnishings to Underpin Abundant Growth Avenues: Emerging economies have been hotbed of opportunities for firms in the textile chemicals market. China and Thailand have been at the forefront of tremendous demand for home furnishings. The widespread use of products such as coating and sizing agents in North America and Europe have generated substantial revenue streams for players in the global textile chemicals market. In Asia Pacific, globally prominent home furnishing companies are expanding their retail chains, which has spurred the market prospects. The TMR study found that coating and sizing agents segment held a sizable market share of 30.1% in 2021.
- Massive Application in Apparel Production to Generate Substantial Stream of Revenues: The demand for textile chemicals has proliferated in apparel manufacturing. Rapidly growing sales of various types of apparel in industrialized nations has augmented the revenue scope in the textile chemicals market.
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Textile Chemicals Market: Key Drivers
- The sweeping pace of globalization has pivoted growth in real gross domestic product (GDP). This, in turn, is steering the demand for apparel, which thus is a major driver of the textile chemicals market.
- Growing use of technical textiles in various functional applications in the industry is a key driver of textile chemicals market. Specialty chemical companies are witnessing considerable revenue growth in the consumption of technical textiles.
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Textile Chemicals Market: Regional Growth Dynamics
Asia Pacific held a major share of 65.3% the global textile chemicals market in 2021. The prominence of the regional market can be ascribed to the presence of low-cost textile manufacturing hubs in some Asian economies, abundance of raw materials, and tremendous demand in the apparel manufacturing.
Textile Chemicals Market: Key Players
Some of the key players in the textile chemicals market are CHT Group, The Dow Chemical Company, Tata Chemicals Ltd., Fibro Chem LLC., OMNOVA Solutions Inc., The Lubrizol Corporation, Evonik Industries AG, Covestro AG, DyStar Singapore Pte Ltd, Solvay S.A., Archroma, and Lonsen Inc.
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Textile Chemicals Market Segmentation
- Product
- Coating & Sizing Chemicals
- Wetting Agents
- Defoamers
- Others
- Dyes & Dyestuff
- Acid Dyes
- Basic Dyes
- Direct Dyes
- Disperse Dyes
- Reactive Dyes
- Sulfur Dyes
- Vat Dyes
- Others
- Finishing Agents
- Surfactants
- Desizing Agents
- Bleaching Agents
- Yarn Lubricants
- Others
- Coating & Sizing Chemicals
- Application
- Home Furnishing Textiles
- Carpets & Rugs
- Furniture
- Others
- Technical Textiles
- Agrotech
- Geotech
- Meditech
- Others
- Apparel
- Industrial Textiles
- Home Furnishing Textiles
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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