In a recent published report, Kenneth Research has updated the market report for Textile Chemicals Market for 2021 till 2030. 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 the 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 be 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 Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Textile Chemicals Market is estimated to reach $31.3 billion by 2024; growing at a CAGR of 3.5% from 2016 to 2024. Textile chemicals are used for enhancing the end products with required specifications and also effective production, processing, and development of textiles including clothing, furniture, tire yarn, and others. A wide range from basic mixtures of chemicals are available such as starch, sulfonated oils, surfactants, and greases to highly specialized chemicals such as warp sizes, flame retardants and water repellents. The industry is now focusing on developing new textiles that include high performance and protection material using nanotechnology, specialty coating and ink-jet printing process. The textile industry is adopting bio-based chemicals, especially in medical textiles, geo and agro-textiles, and in construction and interior textiles.
The market is driven by increasing need for freshness and comfort in fashion industry and fashionable products, and rising production of floor coverings and home furnishings. Though, possibility of the chemicals causing harmful effects may hamper the adoption among end users. Additionally, growing demand for eco-friendly, natural and organic textile would provide numerous opportunities in coming years.
The textile chemicals market is categorized as product, application and geography. Based on product, the market is segmented into, coating & sizing chemicals, finishing agents, surfactants, colorants & auxiliaries, desizing agents, bleaching agents, and yarn lubricants. Based on application, the market has been segmented into home furnishing, apparel industries, industrial and other applications.
Based on geography, textile chemicals market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, India, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
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Major companies operating in this market include The Dow Chemical Company, Huntsman International LLC, The DyStar Group, Pulcra Chemicals GmbH, Solvay SA, Archroma, Lonsen Inc., OMNOVA Solutions Inc., Covestro AG, and Kiri Industries Ltd., among others.
The key takeaways from the report
The report will provide detailed analysis of Textile Chemicals Market with respect to major segments such as product, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Textile Chemicals Market has been included in the report.
Profile of the key players in the Textile Chemicals Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Textile Chemicals Market
Product Segments
Coating & Sizing Chemicals
Finishing Agents
Surfactants
Colorants & Auxiliaries
Desizing Agents
Bleaching Agents
Yarn Lubricants
Application Segments
Home Furnishing
Apparel Industry
Industrial and Other Applications
Geographical Segments
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North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Others
Asia-Pacific
India
China
Japan
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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