TMR Projects Strong Growth for Textile Auxiliaries Market, Rising Demand for Apparel to Drive 4.0% CAGR During 2019-2027
- Apparel promise to be the most lucrative application in the textile auxiliaries market. The segment held a ~40% share vis-à-vis volume in 2018. The rising demand for apparel will help the segment grow by 1.5x by 2027 end.
- The CAGR for apparel segment will likely remain modest at ~4.0% in terms of volume during 2019-2027 period.
- Technical textiles will also witness a notable growth during 2019-2027, the segment accounted for 14.0% share of the total revenues in 2018. The segment will reach a valuation of US$1.5 in 2027, rising from US$1.0 bn in 2018.
ALBANY, New York, March 9, 2020 /PRNewswire/ -- According to the recent study by TMR, technical textiles will pave way for promising growth during the forecast period. The segment, further sub-divided into agrotech, medtech, and packtech promises most notable growth in agrotech. The growing demand for technical textiles for crop protection, and fertilization remains a major opportunity for growth. Additionally, the market is also witnessing growing demand for decomposable, and degradable textiles, to meet the growing demand for sustainability. The packtech, used for packaging food items in natural bags, and containers, will also witness robust growth along with medtech. The rising demand for both will make way for promising opportunities for players in the textile auxiliaries market during the forecast period.
According to TMR analysts, "the demand for smart fabrics will be key to driving growth in the textile auxiliaries market. The promising benefits of smart fabrics, and growing demand for these for applications wherein environmental sustainability is necessary, the segment will likely deliver maximum returns for players in the textile auxiliaries market. The growing expansion of manufacturing players from APAC region, into new regions, and growing consumer awareness about fashion, and flourishing nature of fashion industry in the region will provide lucrative opportunities during the forecast period".
The global textiles auxiliary market will reach US$10 bn in total revenues by end of 2027. The rise of various chemical components used for functioning at different stages will play a positive role in growth of the textile auxiliary market. Currently, functions like finishing agents, printing agents, weaving agents, dying agents, and pre-treatment agents play a key role in enhancing quality of fabric materials.
In recent years, developing countries, mainly in the Asia Pacific region have played a key role in the growth of textile auxiliaries market. Countries like Vietnam, China, and India continue to emerge as major exporters of textile auxiliaries. Applications like printing, dying, and finishing agents will further enhance growth from this region during the forecast period.
North America will play a major role in development of the textile auxiliaries market during 2019-2027. The well-established textile industry in the US, and products like manmade fibers, apparel, and filaments will drive growth in this region.
The manufacturers in the US continue to make major investments for production of yarns, fibers, and non-apparel textile goods to meet upcoming demand. On the other hand, European region continues to witness a manufacturing shift towards natural fibers, threads, manmade fibers, knitted fabrics, technical textiles, and home textiles.
The strong growth in textile manufacturing in the UK, France, and Germany signals a projected rise in consumption over the forecast period. The market will likely witness major growth in the European region for textile auxiliaries.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Textile Auxiliaries Market (Product: Pretreatment Agents, Dyeing & Printing Agents, Finishing Agents, and Spin Finish, Knitting & Weaving and Other Auxiliaries; Application: Home Furnishings [Carpets & Rugs, Furniture, and Others], Technical Textiles [Agrotech, Packtech, Medtech, and Others], Apparel, and Industrial Textiles) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/textile-auxiliaries-market.html
Restraints in the Textile Auxiliaries Market:
Large use of chemicals in the fabric-processing stage, and manufacturing phase signals an on-going challenge in the textile auxiliaries market. Several toxic chemicals used as bleaching agents, dyes, and finishing agents continue to pose challenges for environmental sustainability, and affect demand due to rising stringent regulations from end-players.
The rising concern about water pollution due to textile auxiliaries through ionic metals, salts, toxic surfactants, are often released in water without any treatment. The rising concern about its impact to the ecosystem will present a challenge to growth of the textile auxiliary market.
The EPA, and EU has enacted strong legislations prohibiting use of toxic chemicals in textile auxiliaries. The regulations will likely prohibit the use of volatile organic compounds or VOCs, and other harmful pollutants. Innovation will be key to substitute current production process with alternatives to drive market growth.
Among regions, the Asia Pacific will hold the largest share of total revenues during the forecast period. The region held the largest share in 2018, and thanks to rapid growth of textile manufacturing in India, the development will likely continue. Government initiatives like 'Make in India', with rising textile manufacturing in Bangladesh, Vietnam, China, will drive robust growth during the forecast period. The countries in Latin America, Middle East & Africa will also witness significant growth, thanks to growing industrialization, and rising imports for the same.
Textile auxiliaries market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Textile Auxiliaries Market: Competitive Analysis
The textile auxiliaries market remains a fragmented, and competitive landscape. Key players in the market continue to invest in research, and development, and collaborations for product advancements. Some key players in the textile auxiliaries market are Huntsman International LLC, Solvay, Archroma, and Dow Chemicals.
Global Textile Auxiliaries Market: Segmentation
Textile Auxiliaries Market by Product
Dyeing & Printing Agents
Spin Finish, Knitting & Weaving & Other Auxiliaries
Textile Auxiliaries Market by Application
Carpets & Rugs
Others (Bed Linen, Curtains, etc.)
Others (Buildtech, Mobiltech, etc.)
Textile Auxiliaries Market by Region
Russia & CIS
Rest of Europe
Rest of APAC
Rest of LA
Middle East & Africa
Rest of MEA
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