Increasing penetration of the global apparel industry is estimated to boost textile chemicals demand over the next eight years

Posted On Sep, 05, 2018

The global textile chemical market exceeded 9.5 million tons in 2015. Textile chemicals are used to improve the appearance of the cloth or enhance certain specifically desired properties as required in manufacturing flameproof furniture fabrics, airbags, etc.

Increasing urban population and lifestyle of consumers, mainly in emerging economies of Asia Pacific and Latin America is likely to drive the market growth of the textile industry. Increasing demand for medical and industrial application because of new technologies, increased sophistication and rising awareness regarding safety measures is creating a huge requirement for different kinds of textiles. This demand is expected to strengthen the market.

Stringent industrial and government regulations across the globe towards protective clothing while working in hazardous and unfavorable environments will probably trigger the usage of sophisticated textiles. Increased penetration of clothing business in developing and underdeveloped economies will probably open new markets for the textile industry. It is likely to have a positive effect on the textile chemical industry in coming years. The increase in environmental concern regarding the adverse effects of chemicals used in textiles is anticipated to be a significant restraint on the market growth. It creates a need for innovation and R&D in the development of eco- friendly products.

Detrimental effects of various chemicals used in the textile industry will pose a major challenge for market growth. Also, issues related to water contamination and excessive usage of water might lead to water shortage thus affecting the overall market. Stringent environmental regulations including Emission Trading System, integrated pollution prevention & control, and regulations on authorization, etc. is anticipated to influence the market growth.

Products and applications segment the global textile chemicals market. By product, the market can be segmented as Yarn Lubricants, Bleaching Agents, Desizine Agents, Surfactants, finishing agents, Colorants & auxiliaries, and coating & sizing chemicals. By application, the market can be segmented as industrial, apparel and home furnishing.

Coating & Sizing segment dominated the textile chemicals market and accounted for over 30% of the total demand in 2015. Along with being the largest part, it is also expected to be the fastest growing product segment over the forecast period. Sizing chemicals are mainly employed for better strength of yarn and to enhance abrasion resistance at the time of weaving.

Colorants and Auxiliaries segment is estimated record a sluggish growth rate and is likely to lose its market share due to increasing demand for substitutes like pigments. Finishing agents will witness a positive growth in coming years. Increasing concern towards various aspects affecting finishing of yarn into a textile is likely to boost market demand towards finishing goods.

Home furnishing dominated the market in 2015 accounting for over 35% of market share. The increase in per capita spending on home furnishing in developing nations is likely to propel demand towards agricultural and upholstery applications. The increase in urban development and infrastructural projects in the Middle East & Africa is also likely to drive industry growth.  High demand for quality textiles, which provides protection and ensure safety during fluctuation of temperature and pressure, is projected to drive the need for the sector in next eight years.

The U.S., China, Japan and EU-27 are accountable for over 75% of the market share while these regions have less than 33% of world population. It indicates high per capita expenditure on apparels. Growing demand for technical textiles in many developing regions is likely to support market growth.

Asia Pacific contributed to over 55% of global volume in 2015. Growth in this area is likely to be high in next eight years. The increase in textile production in Bangladesh, Indonesia, Malaysia, Vietnam, India along with inclination of Chinese and Indian governments towards developing the industry is likely to be an add-on to market growth in this region. 

Global textile market share is concentrated with top five players and is expected to account for over 50% of total demand. A key player operating in the world markets include The Dow Chemical Company, Bayer Material Science, BASF, Clariant International and Huntsman International LLC.

The other key players operating in the global textile chemical market include PulcraChemicals GmbH, OMNOVA Solutions Inc, Covestor AG, Solvay SA, Archroma, Kiri Industries Limited, The Lubrizol Corporation, LonsenInc and The DyStar Group.

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