The growing demand for fabrics that are eco-friendly
has compelled many textile chemicals vendors to come up with
technologies and chemicals that not improve the sustainability of
textile production, finds Transparency Market Research in its new
study. Leading players operating in the global textile chemicals
market are focusing on improving their facilities and investing in
R&D to meet customer demands. The Dow Chemical Company, for
example, has introduced to its portfolio, an antimicrobial technology
that safeguards textiles from the growth of harmful bacteria.
Companies also need to participate in mergers and acquisitions so as
to capture greater market shares. Some of the leading companies are
OMNOVA Solutions Inc., Lonsen Inc., The Dow Chemical Company, The
DyStar Group, The Lubrizol Corporation, Kiri Industries Limited,
Huntsman International LLC, Archroma, Solvay SA, Covestro AG, and
Pulcra Chemicals GmbH.
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According to Transparency Market Research, the global
textile chemicals market will rise from US$21.02 bn in 2015 to
US$29.15 bn by 2024, expanding at a modest 3.7% CAGR from 2016 to
2024. On the basis of application, home furnishing will lead. The
segment is anticipated to expand at a 3.5% CAGR between 2016 and
2024, and be worth US$10,228.3 mn by 2024 from US$7,564.8 mn in 2015.
Growing sales of towels, curtains, linen, carpets, and rugs that use
different textile chemicals is expected to be the prime reason behind
the growth of the home furnishing segment. By geography, Asia Pacific
is currently leading in the textile chemicals market.
Ability to Add Strength Driving Textile Chemicals
Market
Textile chemicals enhance textile properties by
adding versatility and strength to it, as per their usage in the
end-user industry. The need for better textiles will ensure a growth
of the textile chemicals market and encourage manufacturers to come
up with innovations and develop advanced textile chemicals, says TMR.
Nanotechnology is being used for the manufacturing of smart textiles,
which have anti-bacterial properties, enhanced chemical and water
resistance, and mechanical strength.
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The introduction of such textiles is expected to
boost the demand for textile chemicals. Growing agricultural
activities, expanding clothing or textile industry, strengthening
economies, improvement in healthcare infrastructure, and growing
number of participants in sports activities are some of the factors
boosting the global textile chemicals market. In addition to this,
textile chemicals are also in demand from the packaging industry.
Concerns Regarding Environmental Pollution to Have
Negative Impact on Textile Chemicals Market
Some of the factors restricting the demand for these
chemicals include harmful effects of chemicals on the environment and
health hazards for humans. The water disposed from textile chemical
industries is polluted and causes heavy damage to water bodies. Also,
chemicals from the textile chemical industries pollute the soil and
have a negative impact. On the other hand, the use of chemicals to
strengthen textiles in the construction sector will cause
manufacturers to refrain from adopting conventional construction
materials such as concrete, wood, and glass, and instead make use of
textiles. This will ensure a positive outlook for the market in the
future and create immense potential for growth.
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The analysis of the global textile chemicals market
mentioned in this review is based on the findings of the Transparency
Market Research report, titled “Textile Chemicals Market (Coating &
Sizing Chemicals - Colorants & Auxiliaries, Finishing Agents,
Surfactants, Desizing Agents, Bleaching Agents, Yarn Lubricants;
Application - Home Furnishing, Apparel, Industrial & Other)-
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2016 - 2024.”
The report segments the global textile chemicals
market as follows:
Product Segment Analysis
- Coating & Sizing Chemicals
- Colorants & Auxiliaries
- Finishing Agents
- Surfactants
- Desizing Agents
- Bleaching Agents
- Yarn Lubricants
Textile Chemicals Market - Application Analysis
- Home Furnishing
- Apparel
- Industrial & Other
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
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Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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