Evolving Apparel Industry Driving Textile Chemicals Market Growth

Industry Outlook Team

The global textile chemicals market is anticipated to reach USD 27560 million by 2022, growing at a CAGR of 3.4 percent. The major factors driving the growth of this market include the development of apparel industries owing to the surge in demand from consumers and the increasing population in developing nations across the world. Other factors fueling the textile chemicals market growth include the rise in demand for home furnishing products, the evolution of environmentally friendly chemicals required by textile industries, and the development of packaging industries.

The booming economy has resulted in a surge in disposable personal income in many countries across the world. This has enabled people to spend lavishly on expensive home furnishing textiles products that are supporting the textile chemicals market, remarkably.

Textile chemicals are specialty chemicals such as textile finishing chemicals that are used in the textile industry for a gamut of purposes that include dyeing, coloring, etc. Moreover, textile chemicals find applications in multiple divisions of the textile industry such as home furnishings, apparel, and many others.

An important part of the apparel production process

Textile chemicals form an important part of the apparel production process as they are added during the fabric processing and these chemicals provide varied features to the textiles that include stain resistance, anti-microbial properties, sweat absorbency, wrinkle resistance, etc. The key applications of textile chemicals are found to be in the apparel section, due to the emerging trends in fashion technology coupled with the growth of the apparel section in the textile industry. Therefore, the application of textile chemicals in the apparel section is anticipated to expand at a Compound Annual Growth Rate of 5 percent during the forecast period.

The emergence of e-commerce and the ensuing rise in trade of diverse products that are purchased and sold online has had a positive impact on the packaging industry that can also be conceived from the evident growth prospects in the packaging machinery market and this demand influx for packaging goods is leveraged by the textile industry since numerous packaging materials are manufactured using textile products. Since textile chemicals are used as colorants and finishing agents in the packaging materials, it is supporting the textile chemical market to flourish further.

Asia Pacific – the fastest-growing market in the textile chemicals industry

The Asia Pacific is not only one of the fastest-growing markets in the textile chemicals industry but also accounts for more than half of the total textile chemical market size. While the apparel industry dominates the other segments in this region owing to the surge in demand from consumers and increasing population especially in developing economies, the coating and sizing chemicals hold the major share in the product type segment in Asian countries. Furthermore, the availability of cheap labor and growth in the number of Research & Development centers is directly promoting the growth of the apparel industries.