(MENAFN- America News Hour)In a recently published report, Textile Chemicals Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Textile Chemicals Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Textile chemicals are chemical substances used at a particular stage of textile production right from pre-treatment to finishing of textile and hence, form an indispensable part of the textile industry. Textile chemicals are used in the manufacture of textile to attain the desired colour, appearance, texture and properties of the final product. The market for global textile chemicals is dominated by the home furnishing applications, followed by apparel, with increasing usage of textile chemicals in application segments like technical textiles, industrial, medical and construction textiles projected to power the demand for textile chemicals market over the forecast period.
Market Dynamics
Rising levels of income in both developing and developed economies, boosting demand for apparel, upholstery, household furnishings, and floor coverings will be one of the primary drivers of demand for textile chemicals market, with coating and sizing chemicals remaining the biggest product segment and finishing agents, imparting specific physical, functional and aesthetic properties to textiles expected to attain considerable gains.
Rising demand for finishing chemicals, while generally not indispensable for the production of actual textiles, but allow garment makers and textile manufacturers to differentiate their product by offering enhancing properties to be imparted to the textile like Anti-microbial properties, wrinkle-free properties, stain-resistance, water-repelling properties, ultra-violet protection, flame retarding properties are also driving the global textile chemicals market.
In General, global demand for finishing agents will be driven by the evolving consumer demand for comfortable and durable apparel resulting in additional emphasis on product quality. Growing demand for eco-friendly fabrics and apparel has spurred significant investments in R & D by several textile chemical vendors to develop chemicals and technologies that augment the sustainability of textile production.
This has engendered the use of eco-friendly products as an agency of added-value amongst the manufacturers by distinguishing themselves from the rest by eco-labelling. Nanotechnology, which is currently driving and expected to drive innovation in apparel and home textiles respectively, allows the adjustment of fabric at molecular level, imparting additional properties without an increase in weight/thickness or stiffness has advanced new avenues of growth for textile chemicals, for instance titanium dioxide and zinc oxide nanoparticles are being added to garments with increasing frequency to protect the skin from sun damage.
Healthcare industry is set for fillip with increased government and per-capita spending on healthcare which in turn drives the demand for Meditech textiles, which consists of materials that are used in hygiene, health and personal care, as well as surgical applications. The demand for technical textiles is also fuelled by growing awareness, in developing economies about health and hygiene powering demand for healthcare products such as baby diapers and sanitary napkins that use technical textiles.
Some of the factors inhibiting the growth of the global textiles market would be the growing environmental concern leading to stringent environmental regulation and other elements which inhibit manufacturing of textiles like issues concerning to labour, contaminated water and water shortages caused by an intensive fabric industry.
While cotton and polyester remain the primary sources of the global apparel industry, owing to their sustainability issues, textile manufacturers, innovators and entrepreneurs are looking for sustainable alternatives (also known as bio-textiles) like banana and pineapple leaves, coconut husk, bamboo, milk, cork and even coffee grounds are in various stages of research and production as alternative raw materials from which to create textiles. Even though development of bio-textiles is at a very nascent stage, it can potentially disrupt the apparel and home textile industry, followed by other application segments and hence,
Market Segmentation
The global textile chemicals market can be segmented on the basis of application into
Home furnishing
Apparel Textile
Industrial & Others
The market for global textile chemicals can also be segmented on the basis of product type into
Finishing Agents
Surfactants
Coating and Sizing chemicals
Colorants and Auxiliaries
Desizing Agents
Yarn Lubricants
Bleaching Agents
It can also be segmented on the basis of geography into
Americas
EMEA
Asia-Pacific
Regional/Geographic Analysis
Asia-Pacific
Asia-Pacific market for textile chemicals accounts for more than the total market size and is marked by rapid growth owing to the region's rapidly growing population, burgeoning middle-class, increasing disposable incomes resulting from rising per-capita . income With the emergence of Asia as a manufacturing hub, aided by the less stringent rules and regulations and cheap labour, for the global textile industry, the promising growth prospects of the textile industry in turn drives the demand for textile chemicals.
Americas
Increased consumer spending towards high quality products which present additional benefits/value like stain-resistance, soft-finish, wrinkle-free and antimicrobial properties is increasing in the US, Canada and Mexico which is expected to positively influence the market over the forecast period. Demand for technical textiles amongst the end-user industries like agriculture, healthcare, sports and environmental protection is also driving the textile chemicals market in the US.
EMEA
The European textile chemical market is driven by increasing demand from rapidly growing technical textile application segments like Geotextiles, Agrotech, Hometech, and Meditech etc.
Key Players
Some of the key players in the market include The Dow Chemical, Arkema, AkzoNobel, Huntsman, Lubrizol, Rudolf Chemie, DuPont, Lanxess, Solvay SA, Covestro AG, Pulcra Chemicals GmbH, OMNOVA Solutions Inc., The DyStar Group,Lonsen Inc. etc.
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Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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