PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424927
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424927
Global Textile Chemicals Market is valued at approximately USD 27.72 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2023-2030. Textile chemicals are utilized at different phases of textile processing and production in order 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 textile, coupled with the rising trend towards better home furnishing and aesthetics are further propelling the market growth.
In addition, the surge in demand for sports and activewear is exhibiting a positive influence on the market demand around the world. Sports and activewear require specific performance characteristics such as moisture-wicking, breathability, stretchability, and durability. Textile chemicals play a crucial role in enhancing these performance attributes, ensuring that the apparel meets the functional requirements of athletes and active individuals. According to Statista analysis, the global activewear sectoe was estimated to be worth around USD 366.22 in 2021. Also, it is anticipated that the industry flourishingly grows and likely to generate the revenue of nearly USD 455.42 by 2027. Consequentially, the propelling demand of the activewear or sportswear is creating lucrative demand for Textile Chemicals, which, in turn, augment the market growth during the estimated period. Moreover, the rising adoption of low VOC and biodegradable materials for textile manufacturing, as well as robust growth in textile production in developing economies present various lucrative opportunities over the forecast years. However, the stringent environmental regulations regarding disposal of textile effluents and the cyclic nature of textile industry are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Textile Chemicals Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable