PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1454256
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1454256
The textile chemicals Market size is valued at US$ 31.32 Bn in 2024 and is expected to reach US$ 41.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 31.32 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 4.10% | 2030/2031 Value Projection: | US$ 41.4 Bn |
The global textile chemicals market has been witnessing steady growth over the past few years. Textile chemicals are widely used across the textile industry during the processing of various textile materials, such as natural and synthetic fibers, yarns, fabrics, and garments. Properties such as color, fastness, and ease of maintenance are imparted to fibers through the use of various textile chemicals. The rapid growth of the textiles and apparel industry, coupled with rising demand for innovative and high-performance textiles, is augmenting demand for textile chemicals. Advancements in nanotechnology have opened up opportunities for the development of novel textile chemicals with superior properties. However, stringent regulations pertaining to the use of chemicals may limit market growth to some extent. Rising populations, improving economic conditions, and changing lifestyles across countries have been driving greater demand for a variety of textiles.
The global textile chemicals market is driven by the rapid growth of the textile and apparel industries. Rising demand for easy-care, wrinkle-free, and stain-resistant textiles from end-use industries is propelling market growth. Growing populations and improving living standards in emerging economies have increased demand for clothing, furnishings, and other textile products, which in turn is fueling consumption of textile chemicals. Technological advancements enabling the development of bio-based and eco-friendly textile chemicals present significant opportunities for market players. However, stringent environmental regulations regarding toxic chemicals and a growing emphasis on use of sustainable chemicals may restraint market growth. The adoption of digital textile printing is opening up new areas of application for textile chemicals.