Global Textile Chemicals Market: Key Highlights
·
According
to United Nations’ projections, global population is estimated to reach 8.5
billion by 2030, and further exceed 9 billion by 2050.
The consumption of textiles depends directly on the growth of population and
consumer spending levels.
·
In terms
of demand, Asia Pacific led the global textile chemicals market in 2018, and the same trend is
anticipated to continue throughout 2019 and 2027.
Changing consumer needs and an evolving retail marketplace are factors driving
the apparel sector in Asia Pacific. The apparel sector in Asia Pacific is
projected to expand at a CAGR of nearly 5% during the forecast
period.
·
The
technical textiles market has witnessed evolution from passive to active smart
and ultra-smart fabrics over the last few years. First-generation passive
fabrics were capable of sensing only environmental stimuli, whereas,
second-generation active fabrics included actuators, sensors, and a control
unit in order to sense electric, thermal, and other stimuli.
·
The
demand for textile chemicals in Bangladesh is projected to rise at a CAGR of ~3% between 2019 and 2027.
Bangladesh’s exports of clothing and apparel more than trebled between 2008 and 2018.
The country is estimated to continue to receive increased number of orders for
its finished garments from international partners in the near future, due to the
availability of cotton as well as other fabrics at a low price.
Global Textile Chemicals Market: Key Drivers and
Opportunities
·
Focus on
enhancing the functional quality of textile chemicals and cost reduction are
likely to be key factors driving the global textile chemicals market in the
next decade.
·
Major
players operating in the global home textiles industry, such as IKEA and
H&M Home, are expanding their presence in Asia Pacific in order to tap
immense opportunities in the region. Moreover, the advent of e-Commerce in the
home furnishing sector is expected to boost the home furnishing textiles
segment in the global textile chemicals market during the forecast period.
·
The
demand for textile chemicals in India is anticipated to rise at a rapid pace,
as the country is a leading exporter of textiles in Asia Pacific. Since 2014,
around 19 Textile Park projects have been sanctioned in India, under the Scheme
for Integrated Textile Park (SITP) in the Public Private Partnership (PPP)
mode, with 40% government assistance valuing up to INR 40
Crore (US$ 5.6 Mn). The country’s share in the Asia Pacific textile
chemicals market is likely cross 11% by 2027.
·
Europe
has also been a significant consumer of carpets and technical fibers over the
last few years. Europe has become a leader in the digital printing of textiles,
wherein, designs are printed on fabric by a printer that is controlled by a
software. These trends depict significant potential for the growth of the
textile chemicals market in the region.
·
The
Ministry of Industry & Trade of Russia is focusing on supporting technical
textiles and nonwovens industries in the country. The Government of Russia aims
to increase the share of domestically made technical textiles in the local
market up to 80% by 2020. Lately, the country has
been utilizing its large reserves of oil and other resources, including timber
and other raw materials, for the production of synthetic fibers.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=205
Asia Pacific to be Highly Lucrative Textile
Chemicals Market
·
In terms
of value, Asia Pacific held a major, i.e. more than 60% share
of the global textile chemicals market in 2018.
·
Shift in
the production of textiles and their subsequent consumption by traditional
production centers, such as the U.S. and Western Europe toward Asia Pacific, is
a major factor anticipated to drive the textile chemicals market in Asia
Pacific from 2019 to 2027.
·
Also,
changes in consumer trends, especially in home decoration, followed by changing
lifestyles, have propelled the demand for textiles. This, in turn, is
anticipated to drive the global textile chemicals market during the forecast
period.
·
Countries
such as China and India are major textile chemicals markets in Asia Pacific.
These countries accounted for more than 60% share of the Asia
Pacific textile chemicals market in 2018.
More Trending Reports
Global Textile Chemicals Market – Key Developments
·
In January
2018, Lubrizol introduced two breathable thermoplastic polyurethane resins
of microbe-resistant grade for use in hot-melt adhesives. These products, i.e.
Pearlbond 360 TPU and Pearlbond 960 TPU, can be used in applications such as
technical textiles, apparel, footwear, and conveyor belts.
·
On June
9, 2017, Evonik Industries AG announced an increase of up to 6% in
the prices of its products for applications such as textiles, tissues,
metalworking fluids, and industrial applications. The move was aimed to
strengthen the company’s position in the global textile chemicals market by
focusing on providing better technical services.
Request Covid19 analysis on this
market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=205
Global Textile Chemicals Market – Competition
Landscape
·
The
global textile chemicals market was moderately consolidated in 2018.
Due to the presence of well-established manufacturers in the textile chemicals
market, and their expansion initiatives, the global textile chemicals market is
estimated to be highly competitive during the forecast period.
·
Major
manufacturers in the textile chemicals market include Archroma, Lonsen
Inc., Huntsman, CHT Group, Solvay, and Evonik Industries AG.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=205<ype=S
About Us
Transparency Market Research is a global market intelligence company,
providing global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. Our experienced team of analysts,
researchers, and consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and information.
With a broad research and analysis capability, Transparency Market Research
employs rigorous primary and secondary research techniques in developing
distinctive data sets and research material for business reports.
Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
Comments
Post a Comment