The global textile chemicals market size is expected to grow from $23.45 billion in 2021 to $24.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.23%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global textile chemical market size is expected to reach $29.33 billion in 2026 at a CAGR of 4.67%.
What is the Global Textile Chemicals Market?
The textile chemicals market consists of sales of the textile chemicals by entities (organizations, sole traders, and partnerships) that refer to the application of basic chemistry to understand textiles and textile materials. Textile chemicals such as biocides, flame-retardants, water repellents, bleaches, emulsified oils, and others are used for the functional and aesthetic modification of textiles into useful and desirable items, which are employed by manufacturers for different purposes.
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What drives the Global Textile Chemicals Market?
The increasing demand for textiles is expected to boost the demand for textile chemicals during the forecast period. The growth in the wealthy upper-middle-class of emerging economies and expanding demand for quality products is expected to increase the demand for textiles moving forward. For instance, the global textiles market is expected to grow from $654.57 billion in 2021 to $861.52 billion by 2026. Hence, the growing demand for textiles is expected to boost the demand for textile chemicals to manufacture better quality products.
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Global Textile Chemicals Market Segments
The global textile chemicals market is segmented:
By Product Type: Coating and Sizing Chemicals, Finishing Agents, Colorants and Auxiliaries, Surfactants, Desizing Agents, Yarn Lubricants, Bleaching Agents
By Application: Apparel, Home Furnishing, Automotive Textile, Industrial Textile, Others
By Geography: The regions covered in the textile chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Textile Chemicals Global Market Report 2022provides market size and growth forecasts for the global textile chemicals market, global textile chemicals market share, textile chemicals market segments and geographies, textile chemicals market competitive landscape including leading competitors’ revenues, profiles and market shares. The textile chemicals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Textile Chemicals Industry Playersinclude Dow Inc, Wacker Chemie AG, Huntsman Corporation, Solvay, BASF SE, Archroma, Evonik Industries AG, Tanatex Chemicals, Kemin Industries, CHT Group, The Lubrizol Corporation, Kiri Industries Limited, Kemira, Tata Chemicals Ltd., GIOVANNI BOZZETTO S.p.A, AkzoNobel NV, FCL, Indofil, Pulcra Chemicals, NICCA Chemical Co.Ltd, JINTEX Ltd, Sarex Chemicals, DIC Corporation and Lonsen Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
