Textile Chemicals Market
Textile Chemicals Market Abstract:
Textile Chemicals Market surged to USD 9.80 Million in 2017, the market will expand at CAGR of over 3.2% over the forecast period (2018-2022). The market is experiencing this growth on account of textile chemicals being used in furnishing, floor covering, clothing sector, and technical textiles.
Rising level of personal income in both developed and developing countries is expected to propel the production of textiles used in apparel, household furnishings, and floor coverings, faster gains will be seen in finishing chemicals, which can impart specific aesthetic, physical, and functional properties to textiles. Continuous advancements in textile chemicals due to innovative efforts have further elevated the efficiency of these chemicals. Increase in demand for home furnishing products, demand for environmentally friendly chemicals in textiles industries, and progressing packaging industries, which require large textile chemicals also propel the market growth.
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Textile Chemicals Market Key Players:
Textile Chemicals Major Key Players in Market Includes: BASF SE, Bayer AG, Dow Chemical Company, Huntsman International LLC, Sumitomo Chemicals Co., Ltd., AkzoNobel, Arkema, Kiri Industries, Lubrizol, Omnova Solutions, Pulcra Chemicals, and Sumitomo Chemical.
Textile Chemicals Market Segmentation:
Textile Chemicals Market is segmented on the basis of type into pre-treatment chemicals, furnishing chemicals, colorants, coating chemicals, and dyeing & printing chemicals. Colorants are used to impart color to the textile products, while coating chemicals are water repellant, solvent resistant, and thermal resistant. They are used for various applications such as tarpaulins, waterproof protective clothing, adhesives, and bulk bags.
By application, the market is segmented into home furnishings, apparel, industrial textiles, and technical textiles. Increasing expenditure on home furnishings helps propel the textile chemicals market. Textile chemicals are used for carpets, rugs, furniture, and much more. Also, the rise in per capita spending on apparel has proved to be positive for the textile chemicals market.
Textile Chemicals Market Regional Analysis:
Textile Chemicals Market is geographically segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (Row).
Among all, Asia Pacific will be reigning over the market with a high CAGR during forecast period, trailed by North America and Europe. Continuous development of emerging economies such as China, India, and Brazil can contribute to the market. Increase in disposable incomes of the population can lead to domestic consumption of apparels especially in casualwear, carpets, and home furnishings in countries such as China. Similarly, India has become a massive market for textile chemicals owing to the domestic production and export of cotton and synthetic fibers.
On the other hand, Europe and Row are projected to display at a modest CAGR from 2018 to 2022. This can be attributed to increasing awareness about the environmental impact of textile chemicals along with the increasing research into the carcinogenicity of various textile chemicals in this region.
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Textile Chemicals Market Application:
Textile Chemicals find usage in various end use application such as apparel, technical textiles, home furnishing, industrial textiles, and others. The market is estimated to witness moderate growth due to their superior properties coupled with excellent usage in various end use applications specifically in-home furnishing and industrial textiles.
Among the end use application segment, apparel is estimated to grow tremendously followed by home furnishing. The factors attributed to the segmental growth are growing per capita disposable income, rapid urbanization in emerging economies, and robust industrialization. In addition, increasing government support such as Housing for all and cheaper home loans has increased the number of flat owners which in turn has increased the consumption of textile chemicals in home furnishing segment.
Textile Chemicals Market Competitive Landscape:
Textile Chemicals report has analysed the degree of competitive scenario among the major operating players in textile chemicals market as well as sector growth and market scenario. The global textile chemicals market comprises of wide range of suppliers operating in the market which includes small scale and medium level producers. The important players of textile chemicals and large level suppliers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high-level suppliers belongs to this province specifically from India, Malaysia, South Korea, the Philippines, Taiwan, Japan, Australia, China, and Thailand.
Moreover, the major operating players of textile chemicals are observed to follow various strategic plans to enhance their product portfolio such as joint ventures, product launches, distribution agreements, strategic acquisition, and mergers, and exclusive agreements. Prominent manufacturers in this market are estimated to improve their manufacturing capacity of textile chemicals to meet the rising demand for textile chemicals worldwide.
Textile Chemicals Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Textile Chemicals Market
5 Industry Overview of Global Textile Chemicals Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Textile Chemicals Market Table of Content to be Continue…….,
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