TEXTILE CHEMICALS MARKET SIZE, SHARE GROWTH STATUS BY 2027


The global textile chemicals market size is projected to reach USD 26.40 billion by the end of 2027. The increasing applications of the product across diverse industry verticals will emerge in favor of the growth of the market. According to a report published by Fortune Business Insights, titled “Textile Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (Coating & Sizing Chemicals, Colorant & Auxiliaries, Finishing Agents, Surfactants, De-sizing Agents and Others), By Application (Apparel, Home Furnishing and Technical Textiles) and Regional Forecast, 2020-2027,” the market was worth USD 20.85 billion in 2019 and will exhibit a CAGR of 3.2% during the forecast period, 2020-2027.

Source:

https://www.fortunebusinessinsights.com/textile-chemicals-market-103284 

The recent coronavirus outbreak has created a sense of panic across the world. This has led to a shutdown in major businesses across the world. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Textile chemicals are products that are used in the treatment of textile material at various stages in the manufacturing process. The product plays an important role in obtaining favorable textile properties. The rising applications of textile chemicals across diverse industry verticals will emerge in favor of the growth of the overall market in the forthcoming years.

Cost-reduction Needs have put Innovations to the Fore

The report encompasses several factors that have contributed to the growth of the overall textile chemicals market in recent years. Among all factors, the increasing number of product innovations driven by rising need for low-cost products will have a huge impact on the growth of the market. Several companies are focusing on manufacturing methods with the view to minimizing the total product cost.

Asia Pacific Likely to Emerge Dominant; Presence of Major Textile Manufacturers will Bode well for Market Growth

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. Asia Pacific is the hub for leading textile manufacturers. The region is home to companies such as DIC Corporation, Sarex Chemicals, and Kiri Industries. The favorable climatic conditions have led to an ease of availability of raw materials in several countries across this region. As of 2019, the market in Asia Pacific was worth 1.55 billion and this value is projected to increase at a considerable pace in the coming years.

The market in North America will rise considerably driven by the rise of the textile industry in this region. The country is constantly engaging in developing efficient textile apparels for use in the defense sector as well as the healthcare industry.


Created: 20/08/2024 07:10:43
Page views: 56
CREATE NEW PAGE