Textile Chemicals Market Report by Technology, Industry Share and Size Expansion to 2026 | Fortune Business Insights™
The global textile chemicals market size is projected to reach USD 26.97 billion by the end of 2026. 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 & Industry 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, 2019-2026,” the market was worth USD 20.67 billion in 2019 and will exhibit a CAGR of 3.5% during the forecast period, 2019-2026.
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. In October 2019, Huntsman
Corporation, a leading textile chemical manufacturer, announced that it has
launched a new dyeing auxiliary that will save the total cost of polyester
dyeing. The company introduced ‘Eriopon E-3 SAVE’ dyeing; a product with the
ability to shorten the dyeing cycle of the polyester. The product will combine
pre-sourcing, reduction, and dyeing in a single bath. This will significantly
reduce the time as well as the cost associated with the product. Huntsman’s
latest product is not the only progress that the company has made and recent
activities will help the company gain a formidable stand in the market.
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In-depth Summary of This Research Insight@ https://www.fortunebusinessinsights.com/textile-chemicals-market-103284
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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 1.54 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.
List
of companies profiled in the report:
- Archroma (Switzerland)
- Huntsman Corporation (USA)
- DIC Corporation (Japan)
- Kiri Industries Ltd. (India)
- Covestro AG (Germany)
- Omnova Solutions Inc. (USA)
- Lubrizol Corporation (USA)
- Solvay S.A. (Belgium)
- Evonik Industries (Germany)
- Tanatext Chemicals
(Netherlands)
- Rudolf GmbH (Germany)
- NICCA Chemical Co. Ltd.
(Japan)
- Kemin Industries Inc. (USA)
- JINTEX Ltd. (Taiwan)
- Sarex Chemicals (India)
Industry Developments:
- March 2020: Huntsman
Corporation announced the launch of a new high performance polyester dye.
The company introduced ‘Terasil Blue W Dye,’ for polyester sport and
athleisure wear.
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