Sustainable And Biodegradable Textile Chemicals:
The global textile chemicals market is experiencing tremendous transformation with the advent of green chemicals which are significantly replacing the extensive use of inorganic dyes and fabricating chemicals. The world is marching forwards progressively widely embracing the organic trend and applying it in various industries to attain huge economic benefits. The biodegradable chemicals are penetrating the textile manufacturing processes such as bleaching, desizing, scouring, finishing, and others in recent times. Being highly efficient than their inorganic counterparts and simultaneously emitting less harmful residual matters, clean chemicals are boosting the demand factor for the textile industry. According to the World Resource Institute (WRI), each second a truck of garbage clothing is either burnt or landfilled worldwide. This offers a severe environmental impact whereby industrialists and fashion entrepreneurs are eyeing on natural green clothing. Significantly, the usage of natural chemicals will eventually lower the associated health concerns related to the dumping of clothes in the surrounding areas. Thereby this sustainable, biodegradable chemicals used in fabrics are likely to upheave the growth prospect of the global textile chemicals market in the future years.
Furthermore, a recent analysis by IndustryARC highlights that the global textile chemicals market leveraged revenue of $25.8 billion as of 2018 facilitated the ever-growing textile industry and the launch of new patents across the world. With the massive demand for textile chemicals, several companies are constantly producing new patents and around 1792 new patents were released during 2014-2019. Additionally, the textile chemicals market demand is anticipated to increase at 4.9% CAGR during the forecast period of 2019-2025.
APAC acquired huge revenue and contributed a major regional of 75% to the global textile chemicals market in the year 2018. One of the major industries in APAC, textile trade is a major source of the regions’ economic input, whereby influencing the domestic clothing market and the associated materials demand. Also, as per the World Trade Organization (WTO), China exported nearly $110 billion textiles across the world in the year 2017. This provides a definitive point for the huge production and sales hike experienced by the textile industry in this region. Additionally, an investment of around $4.19 billion in the textile sector in India was recorded in the year 2017, which again highlights the huge demand for clothing, apparel, and other textile items in this country. Consequently, with higher indulgence in textile trading and manufacturing activities in APAC countries, the growth scopes for the textile chemicals market is likely to be huge.
Digital Printing Chemical Usage:
Digital textile printing is adopted by various industries as a breakthrough advancement to acquire huge demand in the competitive market scenario. This has opened the scope for the textile chemical market to leverage profit through a benefiting collaboration with this new technological innovation. Nowadays, chemicals applied in pigment inks are extensively utilized for textile printing in graphics, arts, packaging, apparel, and other industries to manufacture custom designs and products. This not only aids in retaining customer satisfaction, but also adds vibrant color, texture, and detailing to the required textile materials.
Furthermore, Kornit Digital recently launched Kornit NeoPoly technology, a novel polyester printing innovation, which will process with Kornit NeoPigment. This ink is claimed to be free from PVCs and other toxic chemicals and approved by Oeko-Tex and Eco-Passport. Consequently, the rise in digital printing is considerably boosting the development of the textile chemical market and also aids the resultant demand generation.
Progressive Prospect Pattern Of Fashion Clothing And Home Furnishing:
In modern times, the clothing and apparel industry is positively prospecting with simultaneous demand-pull inflation generated by multifarious industries and customers worldwide. As such, the clothing industry is expanding considerably with the adoption of newer technologies and demand upheaval by the customers over the past few decades. As people are growing more conscious towards and improvising their outlook, there is a hike in the sales of garments and fashion clothing across the world. The WRI further states that overall spending on apparel is projected to increase by 9.18% in China, 7.09% in India, followed by the United States and Europe by the years 2020. This prospect is likely to enable a more prominent effect on the associated products and auxiliary chemicals utilized in the fabric processing and manufacturing industries.
Furthermore, the home furnishing industry contributes massively to the textile chemicals market growth owing to the rise in interior designing and decorating demand throughout the world. Also, there will be an increase of 400 percent in the global GDP by the year 2050, as per the Organisation for Economic Co-operation and Development (OECD). This statistic is reflective of the resultant demand upheaval for the clothing industry propelled by the projected GDP growth forecast. Consequently, this will influence the global textile chemicals market growth scopes in recent years as well as for the future years. The application of textile chemicals by the clothing industry is projected to increase at 5.2% CAGR through to 2025.
Prominent Contribution By Major Companies:
As the textile industry is growing hugely, it relies heavily on auxiliary chemicals aided by the development of newer and sustainable products. Major leaders are spending a massive amount of money on R&D activities and innovative technology, which is significantly accelerating the prospect of the niche market in recent times. The global textile chemicals market is experiencing huge demand growth by the huge contribution by key companies such as Archroma, Huntsman, DowDuPont Inc., Wacker Chemie AG, Covestro AG, Croda International, Clariant AG, The Chemours Co., Tanatx Chemicals, Bozzetto Group, and others.
A global leader in manufacturing and distributing the color and specialty chemicals, Archroma provides a cost-efficient and sustainable solution for the textile industry to grow and excel in the competitive market scenario. Archroma is widely known for delivering a wide range of organic and inorganic industrial dyes, pigments, and other chemicals among which Smartrepel® Hydro and Inkpresso® are some of the most remarkable products. Inkpresso is their patented solution for digital textile printing, whereas Smartrepel® Hydro is a unique water-repellent product with abrasion protection and no-yellowing features.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.