Valley Cottage, New York – Future Market Insights (FMI), in its recent report titled, “Asia Textile Chemicals Market Analysis & Opportunity Assessment, 2014-2020”, projects the market for textile chemicals in Asia to exhibit a steady CAGR of 7.6% during the forecast period, 2014─2020. Asia textile chemicals market value is forecast to reach US$ 11,626 Mn by 2020.
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The ever increasing demand for eco-friendly chemicals which minimize the amount of water & energy used in various stages of textile processing and compliance with regional and international regulations that govern their selection. In terms of market value, China is expected to further strengthen its dominant position in Asia textile chemicals market. It is expected to register a CAGR of 8.6% during the forecast period. Also, Demand for textile chemicals markets in India, Bangladesh, Vietnam, Indonesia are slated for a steady growth between 2014─2020.
Among the product type based segments namely textile auxiliaries and textile colourants, the former is expected to retain its majority share during the forecast period growing at a CAGR of 8.0%. Textile auxiliaries segment is expected to dominate textile chemicals market throughout the forecast period.
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Apparels segment of Asia textile chemicals market is expected to retain its major share in the market value. It is slated to register a CAGR of 6.8% during the forecast period. Home furnishings segment on the other hand is expected to grow at a CAGR of 8.3%.
Finishing process segment of Asia textile chemicals market is expected to experience a steady growth in demand during forecast period registering a CAGR of 7.4%. Growth in demand for functional finishes such as water repellence, anti-bacterial properties, and soil, dust release among others is expected to fuel the growth of this segment.
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The key market players covered in the report include Huntsman Corporation, Archroma and DyStar group.
Future Market Insights (FMI) is a leading market intelligence and consulting firm delivering syndicated research reports, custom research reports and consulting services. Our research services cover global as well as regional emerging markets such as GCC, ASEAN and BRICS.
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