Global textile chemicals market size was 9.23 million tons in 2013. In terms of revenue, this market is expected to grow at a CAGR of 3.7% from 2014 to 2020. Textile Chemicals are used to optimize and improve the manufacturing process and endow the final product with an exact desirable appearance or a particular function like greenhouse fabrics that reflects the sun, flameproof furniture fabrics and durable airbags for vehicles.
Growth of global apparel industry is expected to drive textile chemicals demand over the forecast period. Global apparel industry was worth over USD 1 trillion in 2014 and is expected to witness significant growth over the forecast period. About 75% of this size is prominent in USA, EU-27, Japan and China. These regions account for less than 33% of the global population. This represents very high per capita expenditure on apparels. Increasing demand for technical textile across numerous end-use applications is also expected to be beneficial for the overall growth.
Growing environment concern regarding the adverse effects of these chemicals may emerge as a major barrier for the overall market development. Contaminated water and water shortages caused by an intensive fabric industry may have extensive local consequences in the manufacturing countries. Stringent environmental regulation such as Integrated Pollution Prevention and Control (IPPC) along with Emission Trading System (ETS) and regulation on Registration, Evaluation, Authorisation and Restriction of Chemicals is expected to hinder growth.
Europe Textile Chemicals market volume, by product, 2012-2022 (Kilo Tons)
Coating and sizing dominated the product segment, accounting for over 30% of total market in 2013. Sizing chemicals are majorly used for improving abrasion resistance and strength of yarn during weaving. Colorants and auxiliaries segment is anticipated to have some sluggish growth over the next few years. The product is expected to lose share on account of growing demand for substitutes such as pigments.
Growing concerns over factors affecting finishing of yarn into textile is expected to propel the demand for finishing agents over the next few years. Demand for finishing agents is hence expected to rise over the period.
Home furnishing applications dominated the market in 2014, and accounted for over 38% of the overall application segment. Growing per capita spending in home furnishing in BRICS countries is anticipated to boost demand in upholstery and other architectural applications. In addition, growing infrastructural and urban development in Middle East is also expected to fuel the industry growth.
Industrial and other applications are expected to gain share over the next seven years. Growing demand for high quality textiles in plant for ensuring safety and provide protection during fluctuation of properties such as temperature and pressure is expected to drive demand in industrial applications.
Asia Pacific accounted for over 55% of total volume in 2014 and is expected to gain more share over the forecast period. Growing textile production in China, India, Vietnam, Malaysia, Indonesia and Bangladesh coupled with government of China and India’s inclination towards promoting this industry is expected to benefit the regional market. In addition, application growth in industrial and automotive sector in India, Japan and China is expected to have positive impact.
Key companies operating in this industry are focused on restructuring their businesses, developing effective work processes and investing in niche products. In 2013, multi-national companies announced to open plants at Georgia, Virginia, Tennessee, North Carolina and South Carolina.
Global textile chemicals market share is moderately concentrated with the top five players accounting for over 50% of overall demand. Key participants include Huntsman International, BASF, Clariant International, BASF, Bayer MaterialScience and The Dow Chemical Company. Other business partners include Sumitomo Chemicals Co. Ltd., Kiri Industries Limited, Omnova Solutions, Kemira, Lubrizol Corporation, Archroma and Shaw Industries, Inc.