Textile chemicals plays a vital role in various commercial and industrial sectors. Textile chemicals are used for the well-organized manufacturing process of textiles and gives the desirable specifications of the end product. Rising demand for eco-friendly fabrics in the global textiles market have propelled the manufacturers to develop chemicals that boost the endurably of textile production. Use of nanotechnology in textile industry led to the manufacturing of high quality chemical resistance fiber, along with sustainable strength, antibacterial properties, and water repellence property. The home furnishing segment is the largest segment accounted for more than 35% share of global textile chemicals market in 2016. The textile chemicals industry is driven by continuous R&D to form innovative textile products. Implementation of innovative technologies along with the growing clothing demand have braced the growth of textile chemicals. The textile chemicals market was valued at US$ 25.83 Bn in 2021 and is expected to reach US$ 35.82 Bn by 2030, expanding at a CAGR of 3.7% from 2023 to 2030.

Asia Pacific was the leading market for global textile chemicals accounted for more than 55% of the total market in 2020. China and India are the prime consumers of textile chemicals owing to the huge production of apparel and textile. Increasing domestic demand, growing exports, cheap labor availability, and low production costs are the key factors driving the future market of textile chemicals in Asia Pacific market.

The report titled “Textile Chemicals Market - Growth, Future Prospects and Competitive Analysis, 2023– 2030” offers strategic insights into the textile chemicals market along with the market size and estimates for the duration of 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on product type, application, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2021 & 2030. The report also provides a prolific view on market dynamics such as market drivers, trends, restraints and opportunities. The report incorporates a separate section highlighting key trends analysis of the overall textile chemical market.

In order to help the strategic decision makers, the report also includes profiles of the leading textile chemical manufacturers, their business strategies, and key developments. Some of the major players profiled in the report are Archroma, BASF SE, Bayer AG, Covestro AG, Dow Chemical Company, DyStar Group, Fibro Chem, LLC, German Chemicals Ltd., Huntsman International LLC, Kiri Industries Limited, Omnova Solutions, Inc., Omya United Chemicals, Pulcra Chemicals, Sumitomo Chemicals Co., Ltd., and The Lubrizol Corporation. The section further includes a brief on key strategies adopted by the major players operating in the market. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the textile chemicals market
• Market drivers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2020 – 2021)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the textile chemicals market, offering market size and estimates for the period from 2023 to 2030, keeping in mind the above-mentioned factors.

Coating and sizing textile chemical was the largest market in 2020 and it is expected to dominate the product segment during the forecast period with a share of more than 40% of the global textile chemical market by 2025. Coating textile chemicals helps to enrich the physical and mechanical appearances of fabric whereas sizing textile chemicals improves the strength and graze resistance of yarn. The emerging demand for the durability, flexibility, elasticity, and numerous resistance properties in fabrics is expected to enhance the growth during the forecast period. Colorants and auxiliaries segment is projected to show sluggish growth over the forecast period, due to the growing demand of substitute product such as pigments.

Home furnishing applications was the largest market in 2020 with a share of more than 35% of the total application segment. The growth of real estate and housing sector in the developing countries such as China and India led to increase in the demand of home furnishing applications. Growth in the per capita spending of consumer in home furnishing in developing countries is expected to increase demand in material and other architectural applications. Moreover, growing infrastructural development and increasing urbanization is anticipated to boost the industry growth. Industrial and other applications are also expected to show decent growth during the forecast period. Increasing demand for excellent quality textiles to ensure safety and to provide protection at a time of variability of temperature and pressure, is also driving the demand of textile chemical in the industrial applications.

Asia Pacific accounted for more than 55% of total textile chemical market in 2020 and is projected to be the dominating region during the forecast period. Growing textile production and government’s encouragement for the promoting of their industry especially in the countries such as India, China, Malaysia, Vietnam, Bangladesh, and Indonesia are expected to drive the regional textile chemical market. China is the largest producer and consumer of textile chemicals globally. China has a huge domestic demand, it also exports a large amount of textile chemical to countries such as America, Japan, and Europe. The rise in disposable incomes of the population has led to a boost in the domestic consumption of apparels especially in appeals, and home furnishings.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Textile Chemicals market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Textile Chemicals market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Textile Chemicals market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Textile Chemicals market?
• Which is the largest regional market for Textile Chemicals market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Textile Chemicals market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Textile Chemicals market worldwide?