Textile Chemical Market Insights: Eco-Friendly Solutions on the Rise

The global Textile Chemicals Market is estimated to be USD 26.5 billion in 2021 and is projected to reach USD 33.1 billion by 2026, at a CAGR of 4.6% from 2021 to 2026. The Research report presents a complete judgment of the market which consists of textile chemicals market future trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. The driving factor for the Textile Chemicals market is chemicals is growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.

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Textile Chemicals Market Key Players

Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), Solvay (Belgium) among others, are the leading textile chemicals manufacturers, globally. These companies adopted new product launches, and agreements & contracts as their key growth strategies between 2019 and 2021 to earn a competitive advantage in the textile chemicals market.

Dow, Inc. is one of the largest players in the textile chemicals market. Dow, Inc. is a materials science company that combines science and technology to develop innovative solutions for various end-use markets. The Company conducts its worldwide operations through six global businesses which are organized into the following operating segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure and Performance Materials & Coatings. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries. The company has its presence across North America, South America, Europe, Middle East & Africa, and Asia Pacific.

BASF SE is the second-largest player in the textile chemicals market, globally. BASF SE is one of the leading chemical companies which has its operation spread across all regions of the world. It operates in six major business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solution. The company provides fabric finishing chemicals through the Intermediates division, which falls under the Chemicals business segment.

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Coating & Sizing Agents is expected to be the fastest-growing by product type in the Textile chemicals market during the forecast period.

Coating & Sizing Agents is the fastest-growing product type segment in the Textile chemicals market. In the process of sizing, various types of materials are applied to the yarn. It is a procedure carried out by applying a protective adhesive coating on the yarn. The main objective of sizing is to provide strength and glaze to the yarn. This improves the weaving efficiency by reducing yarn breakage. Coating is the process of depositing a polymeric layer on one or both sides of the textile substrate which enhances the functional properties. The chemicals used for sizing of yarns and textile coatings are called coating & sizing agents, which constitute an integral part of textile chemicals

APAC is expected to hold the largest market share in the global Textile chemicals market during the forecast period.

APAC accounted for the largest share of the Textile chemicals market in 2020. The Textile Chemicals market in APAC is driven by the demand from countries such as China, Japan, and India. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global Textile Chemicals market. The region’s strong industrial base and the growing middle-class populations have driven the demand for a variety of textiles such as technical textiles, home textiles, and apparel. Apart from this, favorable government policies, as well as low labor costs in countries such as India, Vietnam, and Bangladesh, are further strengthening the textile industry in these countries. Low production cost in these countries and huge installed textile production capacity in countries such as China has further attracted many international textile players in the region. This is expected to drive the demand for textile chemicals in the region.

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Reasons to Purchase this Report: 

⇛  Comprehensive competitive landscape, including market rankings of major players, recent product/service launches, partnerships, business expansions, and acquisitions over the past five years.

⇛  In-depth qualitative and quantitative analysis of the market, covering both economic and non-economic factors.

⇛  Detailed market value data for each segment and sub-segment.

⇛  Identification of the region and segment expected to experience the fastest growth and lead the market.

⇛  Geographic analysis, highlighting regional product/service consumption and the factors influencing market conditions in each area.

⇛  Detailed company profiles, including overviews, insights, product comparisons, and SWOT analyses of key market players.

⇛  Current and future market outlook, focusing on growth opportunities, key drivers, challenges, and constraints in both emerging and developed regions.

⇛  Market dynamics and future growth opportunities in the coming years.