The global Textile Chemicals Market is estimated to be USD 26.5 billion in 2021 and is projected to reach USD 33.1 billion by 2026, at a CAGR of 4.6% from 2021 to 2026. The driving factor for the Textile Chemicals market is chemicals is growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.
Synthetic fibers is expected to be the fastest-growing type in the Textile Chemicals market during the forecast period. Synthetic fibers is the fastest-growing by fiber type segment in the Textile Chemicals market. . The growth in this segment is attributed to the growing use of Textile Chemicals in industrial applications. Synthetic fibers are man-made fibers derived from polymers or chemical substances. They have superior qualities than those of natural fibers and have wide industrial applications. Synthetic fibers include polymer nylon, polyester, olefin, acrylic, and modacrylic. They are some of the most widely used raw materials in the production of textiles. Synthetic polymers are strong, stiff, high-strength fibers which are used in high-tech applications such as bulletproof body armor
Petroleum Refining is expected to be the fastest-growing application in the Textile Chemicals market during the forecast period. Petroleum Refining is the fastest-growing application segment in the Textile Chemicals market Petroleum refining Textile Chemicals are widely used in the dehydration of alkylation feed and in the purification of feedstock to protect isomerization catalysts in refining.These Textile Chemicals remove a wide variety of contaminants effectively and economically from numerous hydrocarbon streams in petroleum refineries through non-regenerative and regenerative Textile Chemicals.
It accounted for a share of about 22.39% of the Textile Chemicals market, in terms of value, in 2020.
APAC is the largest market for Textile Chemicals APAC accounted for the largest share of the Textile Chemicals market in 2020.The Textile Chemicals market in APAC is driven by the demand from countries such as China, Japan, and India.
Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global Textile Chemicals market.The region’s strong industrial base and the growing middle-class populations have driven the demand for a variety of textiles such as technical textiles, home textiles, and apparel.
Apart from this, favorable government policies, as well as low labor cost in countries such as India, Vietnam, and Bangladesh, are further strengthening the textile industry in these countries.Low production cost in these countries and huge installed textile production capacity in countries such as China has further attracted many international textile players in the region.
This is expected to drive the demand for textile chemicals in the region.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into 3 categories, namely by company, by designation, and by region. • By Company Type- Tier 1- 55%, Tier 2- 30%, and Tier 3- 15% • By Designation- C Level- 21%, Directors – 23%, and Others - 56% • By Region- North America- 45%, Europe- 27%, Asia Pacific- 15%, Middle East – 6%, and South America - 7%
The Textile Chemicals market comprises major solution providers, such Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), Solvay (Belgium) among others. The study includes an in-depth competitive analysis of these key players in the Textile Chemicals market, with their company profiles, and key market strategies.
Research Coverage: The report covers the Textile Chemicals market based on type, application, and region.This study aims at estimating the size and future growth potential of the market across various segmentation types.
It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report: • Comprehensive coverage and analysis of the Textile Chemicals market in Asia Pacific, Europe, North America, South America and Middle East & Africa • Competitive landscape of major players and their developments in Textile Chemicals market • Identifying high-potential opportunities for Textile Chemicals • Identifying and targeting high-growth application segments
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