Encapsulating Textile With Care Is The Fastest Growing Segment Fueling The Growth Of Textile Chemicals Market

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Encapsulating Textile With Care Is The Fastest Growing Segment Fueling The Growth Of Textile Chemicals Market

One of the major trends in the textile chemicals market is growing demand for bio-based and sustainable chemicals.

The global Textile Chemicals Market is estimated to be valued at US$ 28.33 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Textile chemicals are essential ingredients and functional chemicals used in the textile industry during manufacturing process to impart desired properties and care to the fabrics. Regular use of textile chemicals helps keeps fabrics stain and odor free along with providing wash durability.

Market key trends:
One of the major trends in the textile chemicals market is growing demand for bio-based and sustainable chemicals. With increasing awareness towards environment protection, the demand for eco-friendly textile chemicals is growing. Major market players are focusing on R&D activities to develop bio-based textile chemicals from renewable resources like vegetables and plant extracts which helps reduce dependence on petroleum-based chemicals. This shift towards bio-sourced textile chemicals will drive the market growth during the forecast period.

Segment Analysis
The global textile chemicals market is segmented into colors, pretreatment agents, printing agents, finishing agents, surfactants, and others. The color segment accounts for the largest market share and is expected to remain dominant over the forecast period due to increasing demand for color-fast and durable fabrics. Pretreatment agents are expected to witness high growth owing to their increasing application to provide properties like starching, de-sizing, bleaching etc. prior to dyeing and printing.

Key Takeaways
The Global Textile Chemicals Market Size is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing demand for improved functionality and durability in textiles.

Regional analysis
The Asia Pacific region dominates the global textile chemicals market and is expected to continue its dominance over the forecast period. This is attributed to robust growth of the textile industry in countries like China, India and Bangladesh. Europe is another major market for textile chemicals owing to significant demand from countries like Germany, Italy and UK.

Key players
Key players operating in the textile chemicals market are The DyStar Group, Lonsen, The Lubrizol Corporation, The Dow Chemical Company, Kiri Industries, Huntsman Corporation, BASF SE, Archroma, Omnova Solutions Inc., Solvay SA, Bayer Material Science. The DyStar Group leads the global market for textile chemicals on account of its wide product portfolio and global footprint.