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Textile Chemical Market Refine Synthetic and Natural Fabric Market

Nov 16,2021 | Textile

The driving factor for the Textile Chemicals market is the growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.

Textile Chemicals Market research reportAPAC accounted for the largest share of the Textile Chemicals market in 2020. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global Textile Chemicals market. The region’s strong industrial base and the growing middle-class populations have driven the demand for a variety of textiles such as technical textiles, home textiles, and apparel. Apart from this, favourable government policies, as well as low labour cost in countries such as India, Vietnam, and Bangladesh, are further strengthening the textile industry in these countries. Low production cost in these countries and huge installed textile production capacity in countries such as China has further attracted many international textile players in the region. This is expected to drive the demand for textile chemicals in the region. 

The Global Textile Chemicals Market is estimated to be US$ 26.5 billion in 2021 and is projected to reach US$ 33.1 billion by 2026, at a CAGR of 4.6% from 2021 to 2026. The Textile Chemicals market comprises of major solution providers, such as Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), Solvay (Belgium) among others.

Besides, synthetic fibres has attributed to the growing use of Textile Chemicals in industrial applications. Synthetic fibres are man-made fibres derived from polymers or chemical substances. They have superior qualities than those of natural fibres and have wide industrial applications. Synthetic fibres include polymer nylon, polyester, olefin, acrylic, and modacrylic. They are some of the most widely used raw materials in the production of textiles. Synthetic polymers are strong, stiff, high-strength fibres which are used in high-tech applications such as bulletproof body armour.

Also Petroleum Refining is the fastest-growing application segment in the Textile Chemicals market. It is widely used in the dehydration of alkylation feed and in the purification of feedstock to protect isomerization catalysts in refining. These Textile Chemicals remove a wide variety of contaminants effectively and economically from numerous hydrocarbon streams in petroleum refineries through non-regenerative and regenerative Textile Chemicals. It accounts for a share of about 22.39% of the Textile Chemicals market, in terms of value, in 2020.

Bharatbook offers the latest market research report on the aforementioned subject, where the study covers the Textile Chemicals industry outlook based on type, application, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.

To get more details on the market, please visit Global Textile Chemicals Market.