Global Textile Chemicals Market Report, published by Variant Market Research, forecast that the global market is expected to reach $31.3 Billion by 2024 from $23.8 Billion in 2016, growing at a CAGR of 3.5% from 2016 to 2024. By geography, North America and Europe are expected to grow at a CAGR of 4.2% and 3.7%, respectively, during the forecast period.
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Major factors driving the growth of the global textile chemicals market are increasing demand from fashion industry and for fashionable products and rising production of floor coverings and home furnishing. However, harmful effects of chemicals on human health and environment may restrain the growth of the market. Additionally, market expansion and eco-friendly, natural, and organic textiles would provide future scope for the market players during forecast period.
Global textile chemicals market iscategorized into product, application, and geography. The product comprises coating and sizing chemicals, finishing agents, colorants and auxiliaries, surfactants, desizing agents, yarn lubricants, and bleaching agents. Coatings and sizing chemicals held for the highest market share in 2016. Application segment comprises home furnishing, apparel industrial, and industrial & others applications.
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North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific accounted the maximum share with 46.1% in 2016, followed by North America with 21.5%. In terms of growth, North America would dominate with fastest CAGR, driven by, expanding apparels and industrial textiles and need for eco-friendly products.
Major companies operating in this market segment include Huntsman International LLC, OMNOVA Solutions Inc., The Dow Chemical Company, The DyStar Group, Lonsen Inc., Pulcra Chemicals GmbH, Solvay SA, Archroma, Covestro AG, and Kiri Industries Ltd., among others.
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Scope
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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense& Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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