Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "India Textile Chemicals Market By Type (Colorants, V/S Auxiliaries), By Process Type (Pre-treatment, Dyeing & Printing and Finishing), By Textile Type (Fabric, Yarn, Fiber, and Composites), By Sales Channel, By End Use, By Region, Competition, Forecast and Opportunities, 2029F" report has been added to ResearchAndMarkets.com's offering.
India's textile chemicals market is poised for a remarkable ascent during the projected period of 2028
This trajectory is underpinned by a confluence of influential factors, prominently including the amplifying awareness surrounding sustainable practices in textile manufacturing, the ascending tide of disposable incomes, and an insatiable demand for textiles and apparel. The fabric of this growth narrative finds its threads woven within India's textile and apparel exports, which achieved an astounding pinnacle of USD 44.4 billion in the year 2022, surging by an impressive 41% in comparison to the preceding year's textile export figures.
Embedded within India's expansive chemical industry, the textile chemicals market occupies a pivotal space as one of the world's largest. The driving forces propelling this segment are intricately linked to the escalating cognizance of sustainable manufacturing practices in the textile realm and the spiraling requirement for an array of chemicals integral to the textile production process. This versatile market landscape encompasses a spectrum of chemicals, encompassing dyes, pigments, auxiliaries, and finishing agents, each playing a distinctive role in shaping the final textile product.
Bolstered by India's colossal and continually burgeoning textile industry, the demand for textile chemicals finds its nourishment in the fertile soil of a sector that ranks among the globe's premier producers and exporters of textiles. The country's rich repertoire boasts an assortment of textiles, spanning from cotton and silk to wool and synthetic fibers. As a cornerstone of India's economy, this industry serves as a wellspring of employment for millions and a prolific generator of substantial foreign exchange earnings.
Within the Indian textile chemicals sphere, a competitive landscape takes shape, where domestic contenders and international players engage in a spirited dance for market dominance. Among the orchestrators of this intricate symphony stand stalwarts such as Archroma India Private Limited, Huntsman International (India) Private Limited, BASF India Limited, and Clariant Chemicals (India) Limited, each wielding their influence in shaping the industry's dynamics.
It follows that the trajectory of the Indian textile chemicals market is primed for continued ascent in the years ahead, propelled not only by the considerable heft of the nation's expansive textile industry but also by the swelling demand for textile chemicals that align with sustainable and eco-conscious paradigms.
Increasing Demand from the Textile Industry is Key Factor Driving the Market Growth
The growing demand from the textile industry is a key driver for the Indian textile chemicals market. The Indian textile industry is one of the largest in the world and is growing rapidly. The demand for textile chemicals is directly related to the growth of the textile industry. The demand for textiles and apparel is increasing in India due to factors such as rising disposable incomes, changing lifestyles, and the growth of e-commerce.
This has led to an increased demand for textile chemicals used in the manufacturing of these products. Recently, the Gujarat Dyestuffs Manufacturer Association stated that "the market is experiencing a rise in the demand and price of dyes in the region as they are reopened after six months. As a result, most of the units are using approx. 60% capacity as compared to 35% earlier.
Textile chemicals are used for various purposes in the textile manufacturing process, such as dyeing, printing, finishing, and coating. They are essential for improving the quality, performance, and durability of textiles. As the demand for textiles and apparel grows, the demand for textile chemicals is also increasing. This is driving the growth of the Indian textile chemicals market. The market includes a wide range of chemicals, such as dyes, pigments, auxiliaries, and finishing agents.
In addition to the domestic demand, the Indian textile chemicals market is also driven by the global demand for textiles and apparel. India is one of the largest producers and exporters of textiles in the world. Therefore, the growing demand from the textile industry is a key driver for the Indian textile chemicals market, and this trend is expected to continue in the projected period.
Upsurge in the Demand for Apparel and Home Textiles is Impacting the Market Growth
The increasing demand for apparel and home textiles is another key driver for the Indian textile chemicals market. This trend is driven by factors such as rising disposable incomes, changing consumer preferences, and the growth of e-commerce. As disposable incomes rise, consumers are willing to spend more on clothing and home textiles, which has led to an increased demand for these products.
In addition, changing lifestyles and fashion trends are driving the demand for new and innovative textile products, which require the use of textile chemicals. India ranks third among major dyes exporting countries. Currently, India exports about 355 different types of dyes to 22 different countries worldwide.
Home textiles include products such as bed sheets, towels, curtains, and upholstery. Apparel includes a wide range of products, such as shirts, pants, dresses, and skirts. Textile chemicals are used in the manufacturing of these products for various purposes, such as dyeing, printing, and finishing. The demand for textile chemicals is directly proportional to the demand for apparel and home textiles. As the demand for these products grows, the demand for textile chemicals is also increasing. This is driving the growth of the Indian textile chemicals market.
In addition, the growth of e-commerce has also contributed to the increasing demand for apparel and home textiles. Online retailers are offering a wide range of textile products at competitive prices, which has led to an increased demand for these products.
This has, in turn, driven the demand for textile chemicals used in the manufacturing of these products. Therefore, the increasing demand for apparel and home textiles is a key driver for the Indian textile chemicals market, and this trend is expected to continue in the coming years.
Different Activities & Efforts by Prominent Players are Driving the Demand for the Textile Chemicals
Technological Advancements: With advancements in technology, manufacturers can develop new and innovative textile chemicals that are more effective and sustainable. For instance, there has been a growing trend towards the development of eco-friendly textile chemicals, which are free from harmful chemicals and are safer for the environment.
Expanding Investments: Several companies in the Indian textile chemicals market are investing in research and development activities to develop new and innovative products. In addition, there has been a growing trend toward mergers and acquisitions, which has helped companies to expand their product portfolios and increase their market share.
Focus on Sustainability: There has been a growing focus on sustainability in the Indian textile chemicals market. Manufacturers are increasingly developing products that are more sustainable and environmentally friendly. This trend is driven by the increasing demand for eco-friendly products from consumers as well as the need to comply with environmental regulations.
Growing Exports: The Indian textile industry is one of the largest in the world, and the country is also one of the largest exporters of textiles. This has led to an increased demand for textile chemicals used in the manufacturing of these products.
Therefore, the Indian textile chemicals market is witnessing significant developments driven by technological advancements, increasing investments, focus on sustainability, government initiatives, and growing exports. These developments are expected to continue in the upcoming years, driving the growth of the Indian textile chemicals market.
Competitive landscape
Company Profiles: Detailed analysis of the major companies in India Textile Chemicals market.
- Archroma India Pvt. Ltd
- Croda Chemicals (India) Private Limited
- Huntsman International India Private Limited
- Rossari Biotech Ltd.
- CHT India Pvt. Ltd.
- Kiri Industries
- Bodal Chemicals Limited
- Indofil Industries Limited
- Fibro organic (India) Pvt. Ltd.
- Jaysynth Dyestuff (India) Limited
Report Scope:
India Textile Chemicals Market, By Type:
- Colorants (Azo Dyes, Anthraquinone Dyes, Phthalocyanine Dyes and Others)
- Auxiliaries (Bleaching Chemicals, Detergent & Scouring Agents, Softener, Fixing Agents, and Others)
India Textile Chemicals Market, By Process Type:
- Pre-treatment
- Dyeing & Printing
- Finishing
India Textile Chemicals Market, By Textile Type:
- Fabric
- Yarn
- Fiber
- Composites
India Textile Chemicals Market, By Sales Channel:
- Direct
- Indirect
India Textile Chemicals Market, By End Use:
- Clothing
- Construction
- Packaging
- Home Furnishing
- Agriculture
- Others
India Textile Chemicals Market, By Region:
- East
- West
- North
- South
For more information about this report visit https://www.researchandmarkets.com/r/rbc9z5
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