The textile chemicals market encompasses various chemicals such as colorants and auxiliaries that are used during the textile manufacturing processes. Textile chemicals play a crucial role in enhancing the physical properties and quality of textiles. They increase the durability and lifespan of textiles while also improving their functionality and feel. With the surging demand for cotton, polyester, nylon, and other synthetic fabrics from apparel, home furnishing, and other industrial applications, the consumption of textile chemicals has increased significantly.
Key Takeaways
Key players operating in the textile chemicals are Cisco System Inc., Schneider Electric, Wipro Consumer Lighting, Avnet Inc., Crestron Electronic Inc., Honeywell International Inc., Inventronics Inc., Philips Lighting Holding B.V.(Signify Holding), Legrand, Jaquar India. These players are focusing on adopting strategies such as new product launches, mergers, acquisitions, and collaborations to expand their market share.
Globally, the Textile Chemicals Market Trends is expected to witness high growth in Asia Pacific owing to increasing textile production activities in countries such as China, India, Bangladesh, Pakistan, and Indonesia. Europe and North America are also projected to present lucrative opportunities for textile chemical suppliers with the growing focus on technical textiles and high performance fibers.
Segment Analysis
The textile chemicals market has several key segments - coating and sizing chemicals, printing agents, dyeing agents, finishing agents and others. The coating and sizing chemicals sub-segment dominates the segment currently as these are core chemicals required across all types of textiles during production and processing. Coating and sizing chemicals account for over 35% of the total textile chemicals consumed worldwide presently and the trend is expected to continue over the forecast period as well due to rising demand from technical textiles.
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