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Textile Chemicals Industry – New Product Launches, Approvals, and Acquisitions to Expand Industry Portfolio Worldwide

Published: December 27, 2022
Author: TEXTILE VALUE CHAIN

Chemicals in textiles have evolved into a highly specialized sector that employs a wide range of
chemistries, both organic and inorganic, to provide aesthetic and functional aspects to textiles. Over the last decade, advances in chemistry formulations for customized usage in textile manufacturing have been significant, and this trend is likely to continue over the next forecast period. The global textile chemicals market is expected to grow from USD 24.20 billion in 2020 to USD 37.58 billion by 2030, at a CAGR of 4.5% during the forecast period 2021-2030.

The synthetic segment dominated the textile chemicals market with a market value of around 14.06 billion in 2020.

The fiber segment is divided into natural and synthetic. The synthetic segment dominated the textile chemicals market with a market value of around 14.06 billion in 2020.

The coating & sizing segment dominated the textile chemicals market with a market share of around 28.1% in 2020.

The product type segment is divided into coating & sizing, surfactants, finishing agents, colorants &
auxiliaries, bleaching agents, desizing agents, and others. The coating & sizing segment dominated
the textile chemicals market with a market value of around 6.80 billion in 2020. Sizing chemicals are mostly used to improve yarn abrasion resistance and strength while weaving. The use of sizing
chemicals decreases weaving risks such as yarn fraying and breakage during the weaving process.
Over the forecast period, ingredients that improve the yarn’s abrasion resistance and flexibility are
expected to see a large increase in demand.

The apparel segment dominated the textile chemicals market with a market value of around 11.16 billion in 2020.

The application segment includes apparel, technical textile, home furnishing, others. The apparel
segment dominated the textile chemicals market with a market value of around 11.16 billion in
2020. Shirts, suits, t-shirts, trousers, coats, shorts, skirts, kids’ wear, and swimwear are among the
products in the apparel segment. The major driver of segment expansion is increased garment
production to fulfil rising demand from a growing population. The apparel industry is a fast-paced
industry that is influenced by changing consumer preferences. Apparel manufacturers 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.

Regional Segmentation Analysis:
The market is analyzed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia- Pacific is dominating the market with the market value of USD 14.43 billion in 2020. In the region, India and China had the highest consumption of technical textiles. For the past five years, China has become the world’s largest single consumer. In terms of demand, India is expected to be a strong contender in the regional market, and it will be the second largest market in terms of volume consumed.

Competitive Analysis:
The major players of market include Evonik, Kemira, Kiri Industries Limited, Omnova Solutions Inc.,Sumitomo Chemicals Co. Ltd., Tata Chemicals Ltd. And The Lubrizol Corporation among others.
Source: https://www.thebrainyinsights.com/report/textile-chemicals-market-12609

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