Textile Chemicals Market – Overview
Textile Chemicals find usage in various end use application such as apparel, technical textiles, home furnishing, industrial textiles, and others. The market is estimated to witness moderate growth due to their superior properties coupled with excellent usage in various end use applications specifically in home furnishing and industrial textiles. Among the end use application segment, apparel is estimated to grow tremendously followed by home furnishing. The factors attributed to the segmental growth are growing per capita disposable income, rapid urbanization in emerging economies, and robust industrialization. In addition, increasing government support such as Housing for all and cheaper home loans has increased the number of flat owners which in turn has increased the consumption of Textile Chemicals in home furnishing segment.
Geographically, Asia Pacific accounted for the leading market share for Textile Chemicals in 2016, followed by North America which is further trailed by Europe. In North America the Textile Chemicals market is expected to exhibit moderate growth over the assessment period due to substantial growth of textile industry in this region. Asia Pacific is expected to witness tremendous growth over the forecast period in textile chemicals market on account of increasing application of textile chemicals in various end use applications. In Asia Pacific, the demand for textile chemicals is estimated to enhance in several countries such as South Korea, Taiwan, India, Japan, Indonesia, China, and the Philippines due to improving population combined with shifting of manufacturing facilities for most of the matured market players in this region. In Europe, textile chemicals market is anticipated to register above average growth owing to shifting consumer preference towards the textile chemicals based products along with high adoption rate in various application segment specifically in Spain, France, Italy, Germany, Poland, Belgium, UK, and Russia. In addition, numerous countries of Latin America and the Middle East & Africa are estimated to witness moderate growth in textile chemicals owing to increasing disposable income combined with sales of textile chemicals based product specifically in Mexico, Chile, Brazil, Guatemala, Argentina, Peru, and Venezuela along with expanding textile sector specifically in UAE, Qatar, Kuwait, Oman, Israel, Saudi Arabia, and Turkey.
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Industry/ Innovation/ Related News:
January 2018– Kemin Industries announced to acquire Garmon Chemicals, a leading producer of textile chemicals and auxiliaries. This strategic move will help Garmon to expand their research and development operations.
November 2016– Huntsman Corporation announced that its Singapore based division signed an agreement with China based Jihua Group to manufacture dyes and intermediates to meet the demand for chemical solutions across the globe.
August 2016– TANATEX Chemicals, a leading provider of specialty textile chemicals announced to merge with Transfer Chemicals. With this merger Transfer Chemicals will utilize TANTEX Chemical’s global footprint to accelerate growth.
May 2016– DyStar Global Holdings establishes an agreement with Emerald Performance Materials to acquire five specialist chemicals units. This acquisition will help company to expand company’s growth and reach within the textile chemicals market.
July 2015– Archroma, a Swiss based organization announced to complete their merger with BASF’s Global Textile Chemicals. With this agreement BASF will produce and provide textile chemicals products to Archroma India under a long term agreement. This acquisition will help company to strengthen Archroma’s position as an industry leader in supplying chemicals and dyes to global textile industry.
The Textile Chemicals Report has analysed the degree of competitive scenario among the major operating players in Textile Chemicals Market as well as sector growth and market scenario. The Global Textile Chemicals Market comprises of wide range of suppliers operating in the market which includes small scale and medium level producers. The important players of Textile Chemicals and large level suppliers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from India, Malaysia, South Korea, the Philippines, Taiwan, Japan, Australia, China, and Thailand. Moreover, the major operating players of textile chemicals are observed to follow various strategic plans to enhance their product portfolio such as joint ventures, product launches, distribution agreements, strategic acquisition, and mergers, and exclusive agreements. Prominent manufacturers in this market are estimated to improve their manufacturing capacity of Textile Chemicals to meet the rising demand for Textile Chemicals worldwide.
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