LONDON, March 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the textile chemicals market, the increasing demand for textiles is expected to boost the demand for textile chemicals during the forecast period. The growth in the wealthy upper-middle-class of emerging economies and the expanding demand for quality products is expected to increase the demand for textiles moving forward. For instance, the global textile market is expected to grow from $654.57 billion in 2021 to $861.52 billion by 2026. Hence, the growing demand for textiles is expected to boost the demand for textile chemicals to manufacture better quality products.
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The global textile chemicals market size is expected to grow from $23.45 billion in 2021 to $24.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.23%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global textile chemical market size is expected to reach $29.33 billion in 2026 at a CAGR of 4.67%.
Technological development is a key trend gaining popularity in the technical textile chemicals market. Companies in the textile chemistry market are focusing on developing textiles with the latest technologies like non-fluorinated durable water repellence and eco-friendly digital printing. For instance, in September 2021, India-based specialty chemicals company, Cosmo Speciality Chemicals, launched Superwash POL, a dye transfer inhibitor to prevent textiles from bleeding and staining. The specially formulated agents provide the amphiphilic character with polar groups and hydrophilic properties with un-polar groups, which prevent textiles from dye bleeding and redepositing on different colored textiles and white.
Major players in the textile chemicals market are Dow Inc, Wacker Chemie AG, Huntsman Corporation, Solvay, BASF SE, Archroma, Evonik Industries AG, Tanatex Chemicals, Kemin Industries, CHT Group, The Lubrizol Corporation, Kiri Industries Limited, Kemira, Tata Chemicals Ltd., GIOVANNI BOZZETTO S.p.A, AkzoNobel NV, FCL, Indofil, Pulcra Chemicals, NICCA Chemical Co.Ltd, JINTEX Ltd, Sarex Chemicals, DIC Corporation and Lonsen Inc.
TBRC’s global textile chemicals market forecast report is segmented by product type into coating and sizing chemicals, finishing agents, colorants and auxiliaries, surfactants, desizing agents, yarn lubricants, bleaching agents; by application into apparel, home furnishing, automotive textile, industrial textile, others.
Asia-Pacific was the largest region in the textile chemicals market in 2021. The regions covered in the global textile chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Textile Chemicals Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide textile chemicals market overviews, textile chemicals market analyze and forecast market size and growth for the whole market, textile chemicals market segments and geographies, textile chemicals market trends, textile chemicals market drivers, textile chemicals market restraints, textile chemicals market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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