Enjoy complimentary customisation on priority with our Enterprise License!
The textile chemicals market size is forecast to increase by USD 5.70 billion at a CAGR of 4.6% between 2023 and 2028. Market growth relies on various factors, including the expanding utilization of technical textiles in the industrial manufacturing sector, the rise in textile production and consumption, and the growing emphasis on the fashion and apparel industry. These factors collectively drive the demand for technical textiles, leading to market growth. The industrial manufacturing sector's increasing adoption of technical textiles for various applications, such as filtration, reinforcement, and protection, is a key driver of market expansion. Additionally, the textile industry's growth, driven by increasing consumer demand for textiles and apparel, contributes to market growth. Furthermore, the fashion and apparel industry's focus on innovation and sustainability is driving the demand for technical textiles with enhanced functionality and environmental benefits. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in (USD billion) for each of the mentioned segments.
To learn more about this report, Download Report Sample
The market share growth by the apparel segment will be significant during the forecast period. The apparel segment includes affordable clothing, professional attire, sportswear, and statement luxury items. The apparel industry starts with the production of fibers and continues through bleaching, dying, and printing designs on fabrics. In this process, textile chemicals are used widely. To address the specific needs of the intended end-use, finishing chemicals are also finding significant penetration in the design and development of apparel. For example, antibacterial and dust-repellent clothing is becoming increasingly important in sportswear.
The apparel segment was valued at USD 9.97 billion in 2018. The availability of high-end brands and limited-edition goods, have improved with consumers' exposure to the Internet and e-commerce. The apparel industry's evolutionary pressure helps the market of textile chemicals due to rising consumer demand. In addition, clothing is a vital export good in many nations. More than 60% of the world's exports of clothing are fulfilled and made in developing nations. Therefore, the growing fashion trends and the expansion of the apparel industry are important drivers of the large-scale consumption of textile chemicals, as a result, this shows to drive the growth for the market in focus under the apparel segment during the forecast period.
APAC is estimated to contribute 50% to the growth of the global market during the forecast period. In 2022, the Asia-Pacific (APAC) region dominated the market, driven by established textile industries in countries like China, India, Bangladesh, and Vietnam. Rising demand for high-quality fabrics stems from growing industrial, automotive, and consumer preferences for comfortable and affordable clothing.
To understand geographic trends Download Report Sample
China, a global textile leader, witnessed steady growth, with major companies' operating revenue rising 3.1% YoY to CNY 3.86 trillion (USD 570 billion) in the first nine months of 2022. Increased spending on fashion, sportswear, and demographics bolstered sales. India's textile and apparel sector is set to be worth USD 190 billion by 2025-2026, backed by 41% YoY export growth to USD 44.4 billion in FY 2022. Government initiatives and foreign investments, combined with abundant fiber options, position India for a positive turnaround. Technological advancements and investments in the textile industry are expected to drive growth in the regional market during the forecast period.
The market plays a crucial role in various industries, including personal hygiene, sports and leisure, and pollution control. These chemicals are essential for enhancing the properties of textiles, such as VOCs and SO2 resistance, and improving their durability and functionality. With the increasing demand for synthetic textiles and the growing concern for environmental sustainability, the market is witnessing a surge in innovation. Raw material supply, financials, and consignment flow are critical aspects influencing market dynamics. Additionally, the market is driven by the need for environmental harm mitigation and the development of smart textiles.
Increasing use of technical textiles in the industrial manufacturing sector is a key factor boosting market growth. Technical textiles find diverse applications in industries like construction, transportation, medicine, and more. They are used in manufacturing processes for surfaces, belts, filters, insulation, and electrical parts, with additional considerations for raw material supply, textile contracts, environmental harm, and smart textiles. Sectors such as automotive, building, and aviation utilize technical textiles, driving double-digit growth and contributing to the global economy.
The automobile industry is notably expanding, with India's sector predicted to grow by 12% CAGR, producing 75 million vehicles by 2025. Technical textiles are integral here, used in seat belts, airbags, and insulation due to their durability. As car safety measures increase, the global technical textile industry stands to benefit. This growing demand also spurs the market during the forecast period.
The growing number of recent developments is a major trend in the market. Recent developments in the global market are driving companies to expand their product portfolios, increase market presence, and acquire new technologies. For example, in August 2022, Huntsman International LLC and Archroma Management GmbH (Archroma) entered into a legally binding agreement for Huntsman to sell its Textile Effect division to Archroma.
Moreover, the transaction, subject to regulatory approvals, is expected to close in the first half of 2023. This acquisition will enable Archroma to expand its portfolio of chemical products for the textile market, contributing to the market's growth during the forecast period. The increasing number of such developments is an emerging trend expected to drive the growth of the market during the forecast period.
Health and safety issues associated with the use of textile chemicals are a significant challenge in the market. Health and safety issues related to the production and application of textile chemicals are significant challenges for the industry. The handling of hazardous substances poses risks to workers' health and safety, and improper disposal can harm the environment and surrounding communities.
Moreover, exposure to toxic chemicals in dyes, solvents, and finishing agents can lead to various health problems, ranging from skin irritations to severe respiratory issues. Addressing these concerns will be crucial for the sustainable growth of the market during the forecast period.
The market is fragmented in nature. Some significant players include 3M Co and Archroma Management GmbH The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Associated British Foods Plc, BASF SE, Biotex Malaysia, Christeyns NV, Dow Chemical Co., Evonik Industries AG, Fibro Chem LLC, Huntsman International LLC, Kemira Oyj, Kiri Industries Ltd., Lanxess AG, Omya International AG, Organic Dyes and Pigments, Resil Chemicals Pvt. Ltd., Solvay SA, SURTECO GmbH, Syntha Group, and The Lubrizol Corp.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
You may also interested in below market reports:
The market is integral to various industries, including material science, medical textiles, and geotextiles, offering solutions for diverse needs like protective clothing and colorants. With the rise of digitalization and technologies like AI and IoT, the market is witnessing significant advancements. It caters to various segments, including industrial textiles and biodegradable materials, meeting demands for value clothing and business attire. The market's growth is also driven by factors like fashion consciousness, especially in high-end brands and limited-edition products. Moreover, with the availability of cheap labor and low production costs, the market continues to flourish, offering a wide range of functional fabrics for applications in bedding, carpets, and home furnishing.
Moreover, the market is a dynamic sector influenced by various factors such as NOx emissions, crude oil prices, and the availability of raw materials like cotton. It includes a diverse range of products, such as bleaching agents, colorants, stabilizers, binders, softeners, and mercerizing agents. These chemicals play a crucial role in enhancing the properties of textiles, making them dust repellent and wrinkle-resistant. The market caters to different segments including business clothing and high-end brands, offering limited edition products. Additionally, it serves as a significant export commodity in the fashion and clothing industry, with a focus on fashion designer businesses and car interiors. The market thrives on the use of specialty chemicals for dyeing and processing textiles, ensuring high-quality end products while maintaining low production costs.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
170 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
|
Market growth 2024-2028 |
USD 5.70 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.18 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 50% |
|
Key countries |
China, US, Germany, UK, and India |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
3M Co., Archroma Management GmbH, Associated British Foods Plc, BASF SE, Biotex Malaysia, Christeyns NV, Dow Chemical Co., Evonik Industries AG, Fibro Chem LLC, Huntsman International LLC, Kemira Oyj, Kiri Industries Ltd., Lanxess AG, Omya International AG, Organic Dyes and Pigments, Resil Chemicals Pvt. Ltd., Solvay SA, SURTECO GmbH, Syntha Group, and The Lubrizol Corp. |
|
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.