With the emergence and long-term Impact of COVID-19, Global Textile Chemicals Market to reach USD 39.72 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Textile Chemicals Market is poised to raise up to USD 39.72 Billion by 2030. Textile chemicals are utilized at different phases of textile processing and production to obtain desired features, functions, and performance in textile goods. These chemicals are essential for improving the functioning, look, and quality of fabrics. Various steps of the textile production process, such as fiber production, yarn spinning, fabric manufacture, dyeing, printing, and finishing, include the application of textile chemicals.
The increasing consumer demand for clothing, technical textiles, home furnishings, and related items. As the global population continues to grow steadily, the demand for textiles is anticipated to rise, consequently driving the production capacity of the industry. Also, soaring demand for technical textiles, coupled with the rising trend towards better home furnishing and aesthetics are further propelling the market growth.
Geographically, the global Textile Chemicals market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the high demand for technical textile, rapid urbanization, and the modernization of both textile and chemical manufacturing processes. As per the World Trade Statistical Review 2021, three of the world’s top four apparel exporters in 2020 were situated in the Asia Pacific region—namely, China, Vietnam, and Bangladesh. The increasing production of apparel in this region is anticipated to drive the market for related products in Asia Pacific throughout the forecast period.
Whereas, Europe is expected to grow at the highest CAGR over the forecast years. Supportive policies, rising wages, and an increase in employment opportunities are significantly propelling the market demand across the region. Also, favorable government support, the adoption of digitalization and sustainability practices, and the establishment of robust supply chains are fostering the market demand over the forecast period of 2023-2030.
The global Textile Chemicals market is highly competitive owing to the presence of several key manufacturers such as Kiri Industries Ltd., OMNOVA Solutions Inc., German Chemicals Ltd., AB Enzymes, Organic Dyes and Pigments, Govi N.V., Resil Chemicals Pvt. Ltd., and others.
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Key findings of the study suggest:
- Global Textile Chemicals Market is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2023-2030.
- In the Fiber Type segment, Natural Fiber emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth Owing to the high demand for technical textile, rapid urbanization, and the modernization of both textile and chemical manufacturing processes.
- North America is expected to grow at a higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
Fiber Type:
- Natural Fiber
- Synthetic Fiber
Product Type:
- Coating & Sizing Agents
- Colorants & Auxiliaries
- Finishing Agents
- Surfactants
- Desizing Agents
- Bleaching Agents
- Others
Application:
- Apparel
- Home Textile
- Technical Textile
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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