DUBLIN--(BUSINESS WIRE)--The "Textile Chemicals Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
According to the Textile Exchange, the apparel industry, a subset of the textile industry, contributes a remarkable $2.5 trillion to $3 trillion to the global cash flow each year. Furthermore, the figure is estimated to escalate in the future in order to fulfill the sustainable development goals (SDGs) of the United Nations (UN).
This is to say that the future foresees an augmented demand for clothing and apparel. Perceptibly, industries such as the dye manufacturing industry and other chemicals that are associated with the textile industry will be benefited by this growth in demand which will colossally have a positive impact on the textile chemicals market that was valued to be $26.2 billion as of 2020. Furthermore, the demand for textile chemicals is projected to grow at a compound annual growth rate (CAGR) of 4.50% during the forecast period of 2020 to 2025.
The major players crusading for textile chemicals market share are Archroma, Huntsman, Tanatex Chemicals, DowDuPont, DyStar Group, Wacker Chemie AG, Evonik Industries, Rudolf Group, Bozzetto Group, Kemin Industries, Covestro, Croda Chemicals, and CHT Group.
Textile Chemicals Market Growth Drivers:
Increased Demand from the Packaging Industry
The advent of e-commerce and the subsequent increase in trade of various products that are bought and sold online has had a positive impact on the packaging industry which can also be conceived from the evident growth prospects in the packaging machinery market. This demand influx for packaging goods is leveraged by the textile industry as a lot of packaging material is made of textile products. Evidently, textile chemicals are used as colorants and finishing agents in these packaging materials, which is further flourishing the market.
The Cotton Production Across the Globe
According to the findings in the Cotton Outlook white paper compiled by the United States Department of Agriculture (USDA), the world's cotton production was estimated to rise by 14% in the year 2020-18. Furthermore, the organization projected that global cotton consumption will exceed production in the future. Incremented consumption is partly attributed to the utilization of cotton in the textile industry to manufacture apparels and home furnishing products that will lead to an increased demand for textile chemicals.
Home Furnishing Textiles Creating a Sustainable Marketplace
The booming economy has led to an increase in disposable personal income in most parts of the world that has enabled people to splurge on expensive home furnishing textiles and floor coverings such as carpets. Subsequently, there is a perceptible growth in production of these textile products which is significantly supporting the textile chemicals market.
Textile Chemicals Market Challenges
The chemicals of concern have been the major challenge in the textile chemicals market. The governments across the globe have incorporate stringent regulations regarding the use of harmful chemicals such as VOCs, chlorine bleach, and formaldehyde in the textile industry. This is majorly attributable to the health issues caused due to the exposure of workers to these chemicals as some of them are toxic. Hence, the manufacturers are facing stringent regulations pertaining to the usage of textile chemicals in the textile industry, which is reducing the market size. However, the textile industries are incorporating advanced safety techniques in order to reduce incidents or accidents due to textile chemicals.
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global textile chemicals market during the forecast 2020-2025
- Analyze the competitive factors, competitors' market shares, product capabilities, and supply chain structures
Key Topics Covered:
1. Textile Chemicals Market Overview
2. Executive Summary
3. Textile Chemicals Market Landscape
4. Textile Chemicals Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
5. Textile Chemicals Market - Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Textile Chemicals Market - By Process
6.7. Fabric Softenibg
7. Textile Chemicals Market - By Textile Type
8. Textile Chemicals Market - By Type of Chemicals
8.2. Functional Chemical Substances
8.3. Auxiliary Chemical Substances
9. Textile Chemicals Market - By End User
9.5. Home Furnishing
10. Food enzymes Market - By Geography
10.2. North America
10.3. South America
10.6. Rest of Middle East and Africa
11. Market Entropy
11.1. New Product Launches
11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6ggqci