Textile Chemical Market- Global Industry Analysis and Forecast (2022-2029)

Textile Chemical Market was valued at US$ 27 Bn. in 2021. Global Textile Chemical Market size is expected to grow at a CAGR of 5.6 % through the forecast period.
Textile Chemical Market Overview:
In terms of improving and optimizing the textile manufacturing processes for certain functionalities, textures, and appearance, textile chemicals are used throughout the entire textile manufacturing process, from pre-treatment through finishing. The significant demand for technical textiles and home furnishings around the country is a major factor in the growth of the market for textile chemicals. Consumers' increasing disposable income has resulted in an increase in house remodeling, which is driving demand for home textiles and, in effect, for textile chemicals.



To know about the Research Methodology:-Request Free Sample Report

2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis especially with the impact of lockdown by region.
Textile Chemical Market Dynamics:
Market Drivers:

Increased construction activities are being caused by the rising demand for commercial spaces decided to bring on by the growth of service sectors like banking, financial services, insurance, and the information and communications technology sector. This is in turn fueling demand for technical textiles like upholstery, curtains, rugs, and tablecloths and driving the growth of the market textile chemicals market. The favorable government policies and activities boosting infrastructure spending, chemical production, and other industries are to responsible for the increase in demand for technical textiles.

One of the key factors driving the growth of the market is forecast to be the growth of these industries as a result of rapid industrialization, infrastructural development, and consumer spending. Moreover, during the forecast period, the demand for casual wear and apparel is likely to be driven by the rapidly evolving fashion trends, growing population, and rising consumer disposable income. Manufacturers of textile chemicals would certainly benefit financially from the adoption of reducing technology, such as smart clothing, and the growing use of low VOC and biodegradable materials in the textile sector.

Market Challenges- Cyclic Nature of Textile Industry

Industries with cyclical natures are more susceptible to changing economic cycles. Due to the cyclical nature of their companies in relation to dynamic economic cycles, industries like textiles and commodities experience wider capital market fluctuations. The fluctuation of textile stocks has surpassed that of major benchmark indices.

Furthermore, crude oil is a major source of the raw materials used to make synthetic fabrics. Therefore, it is expected that changes in the price of cotton and oil will have a negative effect on the profit margins in the textile business. The producers of cotton yarn and synthetic fiber are forecast to be immediately impacted by the increase in raw material prices. Due to the rise in production costs, this is forecast to have an effect on the makers of finished textile products. Therefore, changing economic cycles and variations in crude oil prices present a significant challenge for market players in the textile chemicals market.

Market Restraints – Stringent Environmental regulations regarding disposal of textile effluents

The fiber does not retain about 90% of the organic chemicals and auxiliaries used in pre-treatment and dyeing procedures. While some of these chemicals are released into the air, the majority are discharged with wastewater. Activities including printing, cleaning with organic solvents, and heat treatments like thermalization, drying, curing, and vulcanization can all create volatile organic compounds (VOCs).

Additionally, the burning of fossil fuels results in the release of CO2, SO2, NOx emissions, and particulates. Significant air pollution is also caused by the thermal energy generated in boiler houses for bathing, drying, and curing procedures. High amounts of pollutants, including unfixed dyestuffs and salts, are produced during conventional textile dyeing processes and may finish up in effluent water streams. To minimize the effect, increasingly strict restrictions are being enacted that require the emission of cleaner mill wastewater. These laws increased the cost by highlighting the significance of recovery and reuse operations. Companies are concentrating on creating items that limit their ability to operate in the market and require increased R&D investment on new products and improved technologies that are sustainable and environmentally friendly as a result of these strict regulations.

Market Opportunity – Increasing Adoption of low VOC

Governments, non-governmental organizations, and end-users are exerting increasing pressure on textile suppliers and manufacturers to provide textiles that are produced sustainably and without the use of harmful chemicals. The suppliers of major brands and retailers are being urged to confirm the sustainability of their products. Restricted substance lists (RSLs), which list prohibited compounds and/or their limit values, are created for this purpose. Positive lists, which list specific chemical substances that may be utilized, are issued in addition to RSLs, which list the chemicals that should be avoided. For instance, the Swiss company Bluesign has created a positive list that is available to the company's partners and includes chemicals and dyestuffs.

The majority of the textile chemicals used in the production of textiles are dyed. The fact that it is one of the most chemically demanding industries and the second-worst polluter of pure water after agriculture has resulted in a significant pollution problem. Consumer awareness of the benefits of purchasing eco-friendly clothing and accessories is rising. The manufacturers are choosing eco-friendly clothing dyeing techniques and low-VOC technologies. Additionally, customers are prepared to pay more for such goods. As a result, various clothing producers are seeing significant changes to develop better technology thanks to this new wave of low-VOC product use. As a result, the market for textile chemicals is seeing new prospects due to the increased acceptance of low VOC content and biodegradable chemicals.
Textile Chemical Market Segment Analysis:
Based on Process, the Textile Chemical Market is segmented into Pre-Treatment, Coating, Treatment of finished product. In 2021, the coating process dominated the majority of the market with a revenue share of 75.16 %. The need for coating chemicals with extra features like waterproofing, fire resistance, stain resistance, and others is growing, which supports its large market share.

Throughout the forecast period, the coating process segment is expected to maintain its market leader position. Coating protection chemicals are primarily used in the coating process to meet the rising need for protective coatings such as flame retardant, UV, and other coatings that are expected to increase in demand in the coming years.

The denim finishing process in the textile industry makes significant use of denim finishing agents such as enzymes, softeners, anti-back staining agents, and bleaching agents. The demand for high-quality finishing with visually appealing and soft-handling materials is expected to increase, which will cause finishing agent usage to grow more quickly.

The basis for reliable, uniform outcomes in all subsequent operations, including printing and dyeing, is an effective pre-treatment of the fabric. It's crucial to clean the fabric of all auxiliary and disruptive substances throughout the pre-treatment process. Other preparation procedures include optical brightening, alkalizing, and mercerizing in addition to the de-sizing, scouring, and bleaching.



Based on the Application, the Textile Chemical Market is segmented into Apparel, Home Furnishing, and Technical Textiles. The market was dominated by apparel applications in 2021 with a profit share of 48.71 %. The growing millennial and Gen Z populations, who are affected by social media and fashion icons, rising disposable incomes, and the growing e-commerce sector are all responsible for this high percentage.

Growth in the manufacturing of textile raw materials is also forecast, and this growth will certainly impact the manufacture of clothes. For instance, India saw a 3.49 million huge amount increase in fiber production from 2.26 million tonnes in 2021. The demand for textile chemicals in apparel for pre-treatment, dyeing, and printing applications is forecast to rise as apparel production increases.

In the manufacture of clothing, a variety of textile chemicals are utilized. Among these are pre-treatment chemicals, mercerizing agents, peroxide stabilizers, dyes, dispersants, leveling agents, soaping agents, thickeners, binders, and softeners. Market participants in the garment sector are adopting environmentally friendly procedures that use non-toxic chemicals.

Based on the Product, The market was dominated by coating and sizing chemicals in 2021, accounting for 55.22 % revenue. The rising demand for geotextiles, automotive, outdoor clothing, and aerospace applications is responsible for this high share. For effective fabric sizing during the finishing process, there will be an increase in demand for sizing chemicals throughout over the duration of the forecast period.

The most popular natural pastes are dextrin, wheat starch, maize starch, gelatin, etc. Water-soluble polymers, commonly referred to as textile sizing chemicals or agents, are used to preserve yarns so they can endure mechanical stress during weaving. Examples include carboxymethyl cellulose, polyvinyl alcohol, acrylates, and modified starch.
Textile Chemical Market Regional Insights:
The Asia Pacific accounted for 68.3% of the market for textile chemicals in terms of volume in 2021. During the forecast period, it is expected that the regional textile chemicals market will grow at a CAGR of 5.9 % in terms of value and 4.8 percent % in terms of volume. Many raw material suppliers, an abundance of natural resources, and affordable products are some of the major drivers of the Asia Pacific textile chemicals market. Europe and North America dominated the market for textile chemicals in terms of volume, accounting for 19.4% and 15.3% of the market, respectively, in 2021.

The objective of the report is to present a comprehensive analysis of the global Textile Chemical Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Textile Chemical Market dynamic, structure by analyzing the market segments and projecting the Textile Chemical Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Textile Chemical Market make the report investor’s guide.
Textile Chemical Market Scope: Inquire before buying



Global Textile Chemical Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 27 Bn.


Forecast Period 2022 to 2029 CAGR:
5.6%
Market Size in 2029:
US$ 35 Bn.


 Segments Covered:
by Process
• Pre Treatment
• Coating
• Treatment of Finished Products


by Product
• Coating &Sizing Chemicals
• Colorants & Auxiliaries
• Finishing Agents
• Surfactants
• Denim Finishing Agents


by Application
• Apparel
• Home Furnishing
• Technical Textiles



Textile Chemical Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Textile Chemical Market Key Players
• Kiri Industries (India)
• OMNOVA Solutions (US)
• German Chemicals Ltd (Germany)
• AB Enzyme (Germany)
• Organic Dyes and Pigments (Island)
• Govi N.V. (Belgium)
• Resil Chemicals Pvt.Ltd (India)
• LANXESS (Germany)
• Dow (US)
• BASF SE (Germany)
• Huntsman International (US)
• Kemira Oyj (Finland)
• Archroma (Switzerland)
• Bio Tex Malaysia (Malaysia)

Frequently Asked Questions:

1] What segments are covered in the Global Textile Chemical Market report?
Ans. The segments covered in the Textile Chemical Market report are based on Product, Process and Application.

2] Which region is expected to hold the highest share in the Global Textile Chemical Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Textile Chemical Market.

3] What is the market size of the Global Textile Chemical Market by 2029?
Ans. The market size of the Textile Chemical Market by 2029 is expected to reach US$ 35 Bn.

4] What is the forecast period for the Global Textile Chemical Market?
Ans. The forecast period for the Textile Chemical Market is 2021-2029.

5] What was the market size of the Global Textile Chemical Market in 2021?
Ans. The market size of the Textile Chemical Market in 2021 was valued at US$ 27 Bn.