Textiles Chemicals Market Outlook 2031
The Global Textiles Chemicals Market size was valued at USD 27.72 Billion in 2022 and is likely reach to USD 41.55 Billion by 2031, expanding at a CAGR of 4.6% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand for the home textile, growing disposable income of the consumer, increasing penetration of organized retail, and increasing fashion trends.
Textile chemicals are the chemicals used in the textile industry for various purpose such as finishing, coloring, and dyeing. These chemicals are used in different division of the textile sector such as industrial, home furnishing, apparel, and others.
Textile chemicals are also utilized in the making of medical and healthcare products. The chemicals are added during the process of fabric to impart special features including stain resistance, sweat absorbency, wrinkle resistance, and desired texture.
The natural textile involves the materials such as flax, bamboo, wool, hemp, and cotton whereas, synthetic textiles include nylon, polyester, spandex, and rayon. Textile chemicals greatly improves the functionality, appearance, and wear ability. Textile chemicals finishes could be non-durable or durable and many different chemicals will bind at various strengths to variety of fibers.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness regarding the importance of textile chemicals in manufacturing is anticipated to fuel the market growth during the forecast period.
- Adoption of the products that are sustainable acts as main factor spurring the market expansion.
- High cost of textile chemicals is projected to hinder the market growth in the coming years.
- Concern regarding the human health and environment effects acts as major challenge that can restrict the market expansion.
- R&D investment and technological advancement in textile chemicals is estimated to create significant opportunities for the market players.
Scope of Textiles Chemicals Market Report
The report on the global textiles chemicals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Textiles Chemicals Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Colorants & Auxiliaries, Desizing Agents, Coating & Sizing Chemicals, and Others), Applications (Home Furnishing, Industrial Textile, Apparel, Automotive Textile, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
The Lubrizol Corp.; Evonik Industries AG; Tata Chemicals Ltd.; Sumitomo Chemicals Co. Ltd.; Kiri Industries Ltd.; Kemira; Omnova Solutions Inc.; Huntsman International LLC.; DyStar Group; Archroma; Tanatex Chemicals; Dow DuPont; and Wacker Chemie AG
Textiles Chemicals Market Segment Insights:
Coating & sizing chemicals segment is projected to account for a large market share
Based on types, the global textiles chemicals market is divided into colorants & auxiliaries, desizing agents, coating & sizing chemicals, and others. The coating & sizing chemicals segment is expected to constitute a key share of the market during the forecast period owing to it is majorly used for increasing strength and abrasion resisting of yarns.
The rising demand for coating & sizing in the textile processing chain at the pre- treatment stage. However, the colorants & auxiliaries segment is anticipated to expand at a rapid pace during the forecast period due to growing demand for natural & non-toxic dyes and it is highly used for coloring leathers as well as fibers including wool, silk, or cotton.
Apparel segment is projected to hold a key market share
On the basis of applications, the market is segmented into home furnishing, industrial textile, apparel, automotive textile, and others. The apparel segment is expected to represent a key share of the market in the coming years due to increasing consumption of apparel majorly casualwear as well as sportswear and growing disposable income of the consumers.
On the other hand, the industrial textile segment is anticipated to expand at a rapid pace during the forecast period owing to rising awareness for the superior functions and wide usage in various applications including construction, automobile, packaging, and healthcare.
Textiles Chemicals Market Regional Outloook
North America is expected to dominate the market
On the basis of regions, the global textiles chemicals market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rising consumption of textile chemicals in various industries and manufacturing units.
North America has less cost infrastructure and labor is anticipated to boost the market. On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to rising exports of the textile chemicals and government rules & regulations imposed on chemical manufacturing industries.
- Colorants & Auxiliaries
- Desizing Agents
- Coating & Sizing Chemicals
- Home Furnishing
- Industrial Textile
- Automotive Textile
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- The Lubrizol Corp.
- Evonik Industries AG
- Tata Chemicals Ltd.
- Sumitomo Chemicals Co. Ltd.
- Kiri Industries Ltd.
- Omnova Solutions Inc.
- Huntsman International LLC.
- DyStar Group
- Tanatex Chemicals
- Dow DuPont
- Wacker Chemie AG
Key players competing in the global textiles chemicals market include The Lubrizol Corp.; Evonik Industries AG; Tata Chemicals Ltd.; Sumitomo Chemicals Co. Ltd.; Kiri Industries Ltd.; Kemira; Omnova Solutions Inc.; Huntsman International LLC.; DyStar Group; Archroma; Tanatex Chemicals; Dow DuPont; and Wacker Chemie AG.
Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.