The need for technical textiles is expected to grow rapidly due to their use in a wide range of industries including manufacturing, chemical and medical.
Dallas, March 10, 2022 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the textile chemicals market is expected to grow from USD 24.20 billion in 2020 to USD 37.58 billion by 2030, at a CAGR of 4.5% during the forecast period 2021-2030.
A textile is a flexible material made by interconnecting a network of threads or threads woven from raw fibers (natural or synthetic) into long twisted lengths. Weaving, knitting, crocheting, knotting, tatting, felting, gluing or braiding these yarns form textiles. In general, textile chemistry can be divided into several areas. These are: dyeing, the chemistry of fibers and polymers, the finishing and mixing of textile materials.
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Chemicals became more widely used as additional raw materials as the production and consumption of textiles expanded. Textile manufacturing uses a wide range of types and amounts of chemicals. Chemicals used in textiles and their exposure to people in the textile industry, as well as their environmental implications, have received more attention in the current industry scenario. New technologies have been essential to ensure the steady growth of these products while meeting safety, health and environmental requirements.
Key players in the global textile chemicals market are Evonik, Kemira, Kiri Industries Limited, Omnova Solutions Inc., Sumitomo Chemicals Co. Ltd., Tata Chemicals Ltd. and The Lubrizol Corporation, among others. To improve their position in the global textile chemicals market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Bozzetto Group and Asutex announced in January 2020 that they had finalized an agreement to form a new leader in the specialty textile chemicals industry.
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The synthetic segment dominated the textile chemicals market with a market share of around 58.1% and a market value of around 14.06 billion in 2020.
The fiber segment is divided into natural and synthetic. The synthetic segment dominated the textile chemicals market with a market share of around 58.1% and a market value of around 14.06 billion in 2020.
Dyes and auxiliaries accounted for a significant share in 2020.
The product type segment is divided into coating and sizing, surfactants, finishing agents, colorants and auxiliaries, bleaching agents, desizing agents and others. Dyes and auxiliaries accounted for a large share in 2020. Dyes auxiliaries are used to wash and dye yarns and fabrics. These compounds are used to prepare and change the coloring substrate, as well as to stabilize the application medium in order to improve the fastness of the dye. Dispersing agents, carriers, sequestering agents, peroxide killers, anti-foaming and anti-pilling agents are just some of the important auxiliaries.
The technical textiles segment accounted for a significant share in 2020.
The application segment includes garments, technical textiles, home furnishings, etc. The technical textile segment accounted for a large share in 2020. The technical textile segment has grown rapidly in recent years and is expected to continue to do so in the coming years. Product consumption is expected to increase as consumers become more aware of functionality and increased applications in areas such as automotive, healthcare, construction and packaging. The rapid growth of the automotive industry and the increasing use of geotextiles are expected to propel the Geotech and Mobiltech segments forward.
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Regional Segment Analysis of Textile Chemicals Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia-Pacific dominates the market with a market share of 38.4% and a market value of USD 14.43 billion in 2020. In the region, India and China had the highest consumption of technical textiles . Over the past five years, China has become the largest consumer in the world. In terms of demand, India is expected to be a serious competitor in the regional market, and it will be the second market in terms of volume consumed.
About the report:
The global textile chemicals market is analyzed based on value (USD billion), volume (kilotons), import (kilotons) and export (kilotons). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our repository of union reports is diverse across all categories and sub-categories of domains. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.