Textile Chemicals Market Outlook Report 2024-2033 | Trends, Analysis, Insights, Overview

Global textile chemicals market size is expected to reach $32.43 Bn by 2028 at a rate of 6.2%, segmented as by product type, coating and sizing chemicals, finishing agents, colorants and auxiliaries, surfactants, desizing agents, yarn lubricants

Jul 26, 2024 - 16:24

Textile Chemicals Market Outlook Report 2024-2033 | Trends, Analysis, Insights, Overview

Overview and Scope

The textile chemicals refer to the application of basic chemistry to understand textiles and textile materials. Textile chemicals such as biocides, flame-retardants, water repellents, bleaches, emulsified oils, and others are used for the functional and aesthetic modification of textiles into useful and desirable items, which are employed by manufacturers for different purposes.

Sizing and Forecast

The textile chemicals market size has grown strongly in recent years. It will grow from $23.98 billion in 2023 to $25.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to textile industry growth, consumer demand for diverse textiles, global fashion trends, environmental and regulatory compliance, textile manufacturing innovations.

The textile chemicals market size is expected to see strong growth in the next few years. It will grow to $32.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainable textile production, technical textile applications, rising disposable income, globalization of textile supply chains, stringent quality standards. Major trends in the forecast period include development of textile chemicals for digital printing, focus on antimicrobial textile treatments for hygiene and health, introduction of specialty chemicals for technical textiles, collaborations for research on sustainable textile chemistry, adoption of textile chemicals for circular fashion initiatives.

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Segmentation & Regional Insights

The textile chemicals market covered in this report is segmented –

1) By Product Type: Coating And Sizing Chemicals, Finishing Agents, Colorants and Auxiliaries, Surfactants, Desizing Agents, Yarn Lubricants, Bleaching Agents

2) By Fiber Type: Natural Fiber, Synthetic Fiber

3) By Application: Apparel, Home Furnishing, Automotive Textile, Industrial Textile, Other Applications

Asia-Pacific was the largest region in the textile chemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the textile chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing demand for textiles is expected to boost the demand for textile chemicals during the forecast period. The textile industry encompasses the research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. Textile chemicals enhance textile manufacturing processes at several stages of fiber production, yarn processing, fabric dyeing, and finishing. These compounds increase efficiency, decrease processing time, and improve product quality. For instance, according to India Brand Equity Foundation, a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, India's textile and apparel exports (including handicrafts) were US$ 44.4 billion in FY22, representing a 41% rise year on year. Hence, the growing demand for textiles is expected to boost the demand for textile chemicals to manufacture better quality products.

Key Industry Players

Major companies operating in the textile chemicals market report are BASF SE, Dow Inc., Evonik Industries AG, Covestro AG, Solvay SA, Formosa Organic Chemical Industry Co Ltd., Arkema SA, AkzoNobel NV, Wacker Chemie AG, The Lubrizol Corporation, Kemira Oyj, Croda International plc, Huntsman Corporation, CHT Group, Kemin Industries Inc., NICCA Chemical Co Ltd., Giovanni Bozzetto SpA, Pulcra Chemicals GmbH, DIC Corporation, Kiri Industries Limited, Archroma India Pvt Ltd., Indofil Industries Ltd., Fineotex Chemical Limited, Tanatex Chemicals BV, Chemipol SA, Achitex Minerva SpA, Jintex Corporation Ltd., Sarex Chemicals, Lonsen Inc., Tata Chemicals Ltd.

The textile chemicals market report table of contents includes: