ESOMAR-certified consulting firm Future Market Insights’ report, projects the global textile chemicals market to exhibit growth at 5.40% CAGR over the forecast period of 2021 and 2031. textile Chemicals Market research report categorizes the global market by Fiber (Natural, Synthetic), Product Type (Coating & Sizing, Colorants & Auxiliaries, Finishing Agents, Desizing Agents, Surfactants), Application (Apparel, Home Textile, Technical Textile) & Geography.
Growing demand for non-toxic chemicals from the apparel industry is accelerating textile chemicals sales across the globe. Key players are therefore investing heavily in research & development for the development of eco-friendly non-toxic chemicals to cater to the demand within the textile & apparel industry.
The development of chemicals that reduces the water consumption in textile production and processing will aid the demand for textile chemicals across China, India, and Vietnam, bolstering growth.
As per the FMI’s analysis, due to the unprecedented outbreak of Covid-19, textile chemicals market sales declined, registering sluggish growth at 1% CAGR during 2016-2020. However, burgeoning demand for PPE kits and mask across the globe improved the supply chain of textile chemicals across China, India, and Japan.
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FMI forecasts, South Korea and Japan, collectively, accounted for around 12% global market share backed by the burgeoning demand within the apparel industry in 2021.
According to the FMI’s analysis, the global Textile Chemicals market reached a valuation of US$ 22,126.3 Mn in 2021.
Key Takeaways from FMI’s Textile chemicals Market Study
- By application type, the apparel segment will lead the global textile chemicals market over the forecast period.
- In terms of product type, textile auxiliaries will retain their dominance, witnessing high single-digit growth during the forecast period
- The finishing process will be the most preferred process among textile chemicals manufacturers, registering a growth of 10.6% CAGR
- Japan will emerge as the leading market across North America backed by the high demand within the textile & apparel industry
- India will emerge as the most lucrative market registering fastest growth in terms of value over the forecast period
- China is anticipated to lead East Asia’s Textile chemicals market, exhibiting the growth at 10.6% CAGR
“Increasing sustainability approach for reduced water consumption and adoption of non-toxic chemicals are fuelling the demand from apparel industry. This has in turn strengthened growth opportunities for the market players,” says the FMI analyst.
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Competitive Landscape
Huntsman Corporation, Archroma Management LLC, Evonik, Kemira, Solvay, Lonsen, CHT Group, and DyStar Group among others are some of the key players profiled in the textile chemicals market.
As per the FMI’s analysis, the market is dominated by the top 5 players operating in the Textile chemicals market, accounting for around 20-25% of the market share.
Key players are adopting sustainable approaches to strengthen their position in the industry while adhering to the stringent regulations for textile chemicals laid down by the government.
Long-term agreements with apparel industry stakeholders and targeted mergers & collaboration to improve revenue generation will be one of the key strategies adopted by industry players.
For instance, the Department of Textile Engineering, University of Engineering and Technology (UET), in May 2021, announced the launch of the textile sustainability working group to conduct training and seminars, mill assessment related to energy conservation and sustainability research & development projects.
In July 2019, Achitex Minerva announced the acquisition of the corporate assets of Minerva Color Columbiana for the expansion of the market structure of Achitex Minerva Colombia LTD, in Bogota
Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value and Kilo Tons for Volume |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Product Type, Application, Process Type, and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
More Insights on the Global Textile Chemicals Market
In its latest report, FMI provides an incisive coverage on the global Textile chemicals market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (textile auxiliaries and textile colorants), application type (apparels, home furnishings, and others), and process type (pre-treatment, dyeing, finishing, and others) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)
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