Overwhelming Properties to Invite Extensive Growth for Textile Chemicals Market Across Forecast Period of 2019-2027: TMR
- The textile chemicals market may gain an upper hand in terms of growth across 2019-2027 on the back of the booming global population and increased consumption of textiles
- The global textile chemicals market is slated to expand at a CAGR of ~4 percent during the assessment period of 2019-2027
Nov 19, 2020, 07:30 ET
ALBANY, N.Y, Nov. 19, 2020 /PRNewswire/ -- The textile chemicals market may harness extensive growth from 2019 to 2027 due to the rise in disposable income and the deepening penetration of organized retail across the globe. The demand for creatively designed textiles, especially from the millennial category may invite great growth prospects for the textile chemicals market during the forecast period of 2019-2027.
Textile chemicals form an important part of the apparel production process. They are added during fabric processing. The chemicals add varied features to textiles such as stain resistance, antimicrobial properties, sweat absorbency, wrinkle resistance, and others. This aspect may bring tremendous growth opportunities for the textile chemicals market.
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The researchers at Transparency Market Research (TMR), after a scrutinized study on all the factors related to growth, conclude that the textile chemicals market may expand at a CAGR of ~4 percent during the forecast period of 2019-2027. The global textile chemicals market is expected to attain a valuation of ~US$ 33.4 bn by 2027.
The advent of smart textiles across the globe and the growing focus on improving the functional quality of textile chemicals may bring immense growth prospects for the textile chemicals market. Cost-effectiveness is also a major factor that can prove to be a game-changer for the textile chemicals market during the assessment period of 2019-2027.
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Textile Chemicals Market: Analysts View
The analysts at Transparency Market Research expect the textile chemicals market to gain immensely on the back of the novel trends across the forecast period of 2019-2027. The analysts further state the growing focus of the companies on inorganic strategies such as mergers and acquisitions. The analysts' further advise the players in the textile chemicals market to introduce new manufacturing techniques such as CO2-dyeing that eliminates the need for chemical and water dyes.
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Textile Chemicals Market: Key Revelations
- On the basis of product, coating and sizing chemicals, finishing agents, and dyes and dyestuff are extrapolated to be leading segments across the textile chemicals market during the assessment period
- Based on application, the technical textiles segment is expected to expand at a CAGR of ~3 percent across the forecast period of 2019-2027
- Asia Pacific acquired a major share of the global textile chemicals market in 2018 and is expected to follow the same trend between 2019 and 2027
- China led the Asia Pacific's textile chemicals market, acquiring more than 40 percent of the market share in 2018
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Textile Chemicals Market: Growth Boosters
The sustainability factor is penetrating deep across the textile chemicals market. This aspect may prove to be a great growth generator for the textile chemicals market during the forecast period of 2019-2027.
- Manufacturers in the textile chemicals market are focusing on strengthening their online presence, eventually leading to growth as the influence of e-commerce is rising day-by-day
- Large spends on home furnishing textiles and floor coverings due to increased disposable income may turn the tables of growth
Textile Chemicals Market: Growth Dampeners
Stringent regulations on the use of chemicals like chlorine bleach, VOCs, and formaldehyde may serve as a prominent obstacle in the growth of the textile chemicals market. The ban on these chemicals is due to the health issues caused due to them. However, research is in full throttle to explore eco-friendly chemicals that can provide the same benefits as traditional chemicals.
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Global Textile Chemicals Market: Segmentation
- Coating & Sizing Chemicals
- Wetting Agents
- Others (Softening Agents, Adhesives, and Antimicrobial Agents)
- Dyes & Dyestuff
- Acid Dyes
- Basic Dyes
- Direct Dyes
- Disperse Dyes
- Reactive Dyes
- Sulfur Dyes
- Vat Dyes
- Others (Including Mordant Dyes and Azo Dyes)
- Finishing Agents
- De-sizing Agents
- Bleaching Agents
- Yarn Lubricants
- Others (Including Scouring Agents, Leveling Agents, Fixing Agents)
- Home Furnishing
- Carpets & Rugs
- Technical Textiles
- Others (Including Buildtech, Clothtech, Hometech)
- Industrial Textiles
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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