Textile chemicals: Key market research findings
- APAC dominates the market geographically
- Coating and sizing chemicals account for a majority of the market’s revenue
- Key vendors – AkzoNobel, Arkema, Dow Chemical, and Huntsman
Technavio’s market research analysts predict the global market for textile chemicals to grow at a CAGR of almost 4% between 2016 and 2020. The demand for textile chemicals is fueled by innovations and the development of products with enhanced properties. Technical textiles have a broad range of applications across healthcare, agriculture, construction, clothing, packaging, sportswear and sports equipment, and automotive industries. During 2015, the global textile chemicals market was dominated by the APAC region with a market share of almost 55%. The presence of established textile manufacturers and growth in the production of cotton and synthetic fibers will fuel the demand for textile chemicals in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the textile chemicals segments based on the product type.
“There is an ongoing rise in the demand for eco-friendly fabrics and apparels in the global textiles market. To meet this demand, prominent vendors in the market are developing textile chemicals and technologies that can enhance the sustainability of textile production. Bio-auxiliaries are eco-friendly, recyclable materials that can probably bring in novel solutions for textile wet processing. The use of eco-friendly products helps in adding value to a manufacturer by distinguishing its brand from opponents,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, coating and sizing chemicals will continue its dominance over the global textile chemicals market by accounting for around 41% of the overall market revenue. Coating chemicals enrich the physical and mechanical performance characteristics of a coated fabric or nonwoven material. Sizing chemicals, on the other hand, improve the strength and abrasion resistance of the yarn and are used to reduce yarn breakage during weaving. Starch is the oldest forming material that is used in the sizing of cellulosic fibers. Its extensive application can also be attributed to its low cost and easy availability.
The key players in the global textile chemicals market include AkzoNobel, Arkema, Dow Chemical, and Huntsman. These companies have an expanded portfolio of textile chemicals with the unified distribution network and depend on their branded manufacturing technologies. They have manufacturing facilities situated across the world and function volumes. New capacities are being established by them to guarantee closeness and easy access to fast-rising markets of China, India, and other Southeast Asian countries.
A more detailed analysis is available in the Technavio report, Global Textile Chemicals Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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