Textile Chemicals Market Overview
Textile Chemical Market size is forecast to reach US$27.5 billion by 2026, after growing at a CAGR 5.5% during 2021-2026. Globally, the rising growth of e-commerce platforms has raised the demand for apparel from the fashion sector, which has raised the opportunities for the growth of the textile chemicals industry. Increasing usage of chemicals such as sulfuric acid, acetic acid, and bleaching agents for textile dying is also driving the market growth. Additionally, washing, scouring, mercerizing, dyeing, printing, and finishing are all steps involved in the textile chemical manufacturing process. Textile chemicals have become critical for the textile and garment sectors all over the world since they play such an important role in producing pre-defined textile qualities. Currently, the rising demand for sustainable products for textile manufacturing in developed economies is expected to provide opportunities for the textile chemical industry growth.
Impact of Covid-19
Nationwide lockdown in key textile centers led to a huge impact on the demand for textile chemicals. The textile sector in many developing countries suffered significantly losses as a result of the COVID-19 pandemic, which cut down the demand for textile chemicals and hampered the market growth until the first quarter of 2021.
The report: “Textile Chemicals Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the textile chemicals market.
- Asia-Pacific region dominated the textile market owing to the increasing government investments to assist the textile industry in emerging economies such as China, India, Japan, and Malaysia.
- In the textile chemicals market, sustainability has emerged as a prominent trend. Thus, the increasing adoption of sustainable textile chemical manufacturing is anticipated to drive market growth.
- Rising demand for non-aqueous coloring of cotton fabrics to decrease the strain on water supplies have also raised the opportunities for the growth of the textile chemicals market.
- Strict government limitations enforced by health and environmental authorities towards the usage of several harmful chemicals in the textile industry are challenging the growth of the market.
Figure: Asia Pacific Textile Chemicals Market Revenue, 2020-2026 (US$ Billion)
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Textile Chemicals Market Segment Analysis - By Product Type
Colorant & Auxiliaries held the largest share in the textile chemicals market in 2020. Auxiliaries for dyeing and washing yarns and fabrics are known as dyeing auxiliaries. These compounds are used to prepare and change the substrate for coloration, as well as to stabilize the application medium to improve dyeing fastness. Dispersing agents, carriers, sequestering agents, peroxide killers, anti-foaming, and anti-pilling agents are all important auxiliaries. Dyes and pigments are examples of textile colorants. Textile colorants are used to tint the fabric to provide the desired visual appeal. Since not every type of fabric is compatible with every type of dye, choosing the right textile colorant is crucial. Depending on the fiber type, different dyes are employed. Sulfuric acid dyes, acetic acid dyes, bleaching agents, basic dyes, mordant dyes, azoic dyes, and vat dyes are the most common forms of dyes. Thus, with the increasing usage of colorant & auxiliaries the market for chemical textiles is estimated to rise over the forecast period.
Textile Chemicals Market Segment Analysis -By Application
Fashion and Clothing held the largest share with 28% in the textile market in 2020 and is anticipated to grow at a CAGR of 4.3% during the forecast period 2021-2026. Rising usage of textile chemicals in apparel, ties & clothing accessories, handbags, and others, is driving the growth of the market. The apparel industry is a fast-paced industry that is influenced by shifting consumer preferences. Apparel producers are more focused on maintaining product quality and using the latest manufacturing techniques and raw materials in order to survive in a highly competitive environment. As a result, textile chemicals are widely used in the apparel industry. Furthermore, rising disposable income in emerging nations has resulted in a large increase in demand for high-end clothing. As a result, strong development in the apparel industry is expected to boost demand for textile chemicals. Thus, the increasing usage of textile chemicals for fashion and clothing applications is estimated to drive market growth in the forecast period.
Textile Chemicals Market Segment Analysis – By Geography
Asia Pacific dominated textile chemicals market in terms of revenue with a share of 38% in 2020 and is projected to dominate the market during the forecast period (2021-2026). In the textile industry bleaching agents are considered the most essential and important step for the pretreatment of the textile. Increasing production of textiles and rising government investments in the emerging economies such as China, Japan, India and South Korea are estimated to drive market growth. For instance, as of March 2021, Foreign Direct Investment in the textiles and apparel industry has reached US$ 3.75 billion as compared to 3.68 billion in December 2020. Construction of new textile industries in Malaysia will also drive the textile chemicals to demand over the forecast period. For instance, in 2019, the Ministry of International Trade and Industry, along with the Federation of Malaysian Fashion, Textiles and Apparels (FMFTA) and Malaysian Investment Development Authority (MIDA) proposed the plan to create the first textile manufacturing center as part of an attempt to revive the industry. Thus, with the increasing government investments in the textile industry the demand for textile chemicals from various end-use industries in this region will further drive the market growth in the forecast period.
Textile Chemicals Market Driver
Rising Adoption of Sustainable Products for Textile Manufacturing
Most textile and chemical businesses are switching to green chemicals as a result of severe environmental restrictions and a dedication to long-term goals. In 2019, for instance, the biological dyeing company Colorifix conducted new industrial-scale trials for biological dyes in collaboration with textile producers such as Switzerland's Forster Rohner and India's Arvind. Furthermore, Croda International Company introduced new 100 percent bio-based surfactants in 2018. Environmental rules are severely enforced in developed countries. Developing countries are also laying out their plans for a long-term future. As a result, the increasing demand for green textile chemicals has growth potential for both in the developing and developed regions. Thus, rising demand for sustainable products are estimated to drive the growth of the textile chemical market.
Growing Demand for Textiles in the Packaging Industry
The emergence of e-commerce and the consequent increase in online trading of various products have had a favorable effect on the packaging sector, as seen by the apparent development possibilities in the packaging machinery market. According to the India Brand Equity Foundation, the government has taken initiatives to onboard weavers/artisans on the Government e-Marketplace (GeM), providing a wider market and allowing them to sell their products directly to various government agencies and organizations, in order to boost the handloom and handicrafts sector. On the GeM portal, 171,167 weavers/artisans/handloom organizations were registered as of December 31, 2020. Because a lot of packing material is comprised of textile products, the textile industry benefits from this surge in demand for packaging items. Textile chemicals are evidently employed as colorants and finishing agents in these packaging materials, which is fueling the market growth. Thus, the increase in demand for technical textile will increase the production rate which will parallelly upsurge the textile industry growth globally.
Textile Chemicals Market Challenges
Environments Impacts of Textile Chemicals Can Hinder the Market Growth
The dye ingredients that do not attach to the textile material are lost in the wastewater stream during the dyeing process. Approximately 10-15% of dyes are discharged into wastewater, resulting in a distasteful and brightly colored look. Dyes made up of basic chemicals such as acetic acid, sulfuric acid, and others, have the potential to damage land, air, and water. Textile industry wastewater is considered the most polluted of all industrial sectors. Dye-containing wastewater absorbs light and interferes with aquatic creatures photosynthesis. This, in turn, disrupts the water resource ecosystem. Furthermore, these toxic substances are absorbed into the skin after continuous contact with human skin, and they can induce skin allergies and even serious disorders. Furthermore, these hazardous compounds can cause respiratory and skin disorders if sufficient precautions are not performed during textile processing. As a result, these substances are subject to stringent controls. Thus, due to the above-mentioned factors, the textile market is estimated to experience challenges in its expansion over the projected period.
Textile Chemicals Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the textile chemicals market. Major players in the textile chemicals market include:
- Huntsman Corporation
- DIC Corporation
- Kiri Industries Ltd.
- Covestro AG
- Omnova Solutions Inc.
- Lubrizol Corporation
- Solvay S.A.
- Evonik Industries
- Tanatext Chemicals
- In June 2019, Croda International partnered with Microban to bring its antibacterial and odor control solutions to the Indian and Indonesian markets. Both companies hope to take advantage of new opportunities in the textile industry as a result of this cooperation.
Market – Forecast (2021 - 2026)
Report Code: ESR 0140
LATAM Textile Chemicals Market - Forecast(2021 - 2026)
Report Code: CMR 1271
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