Global Textile Chemicals Market to be Driven by Rising Demand from Asia Pacific; Market to Expand at 3.7% CAGR.

A recent market research report published by Transparency Market Research (TMR) presents a detailed overview of the global textile chemicals market. The study forecasts a moderate yet positive growth prospects for the market over the period between 2014 and 2020. The market, which had a valuation of US$19.66 bn in 2013, is projected to expand at a 3.7% CAGR and rise to US$25.42 bn by 2020. The report is titled “Textile Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, and is available on the company’s website for sale.

The global apparel industry will be the primary driver of the global textile chemicals market over report’s forecast period. Growth of the global technical textiles industry is also expected to propel the market for textile chemicals over the report’s forecast period. However, the use of some chemicals such as nonylphenol ethoxylates in the textile chemicals industry, which are harmful for aquatic species and are also banned by certain regions, is expected to restrict the growth of the market in certain regional markets. The rising adoption of bio-based alternatives to textile chemicals is also expected to hinder the overall growth of the global textile chemicals market over the report’s forecast period.

The report segments the global textile chemicals market on the basis of three criteria: product type, application, and geography. On the basis of product type, the market is segmented into coating and sizing chemicals, finishing agents, colorants and auxiliaries, desizing agents, bleaching agents, surfactants, and yarn lubricants. Of these, the segment of coating and sizing chemicals emerged as the largest product segment by accounting for over 30% of the market in 2013. The rising demand for high-finished fabrics is expected to lead to an increased demand for finishing agents over the report’s forecast period.

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In terms of application, the market for textile chemicals is segmented into home furnishing, apparel, and industrial textiles and others. Of these, the segment of home furnishing led the market by accounting for over 33% of the market in 2013. Over the report’s forecast period, the segment of apparel is expected to expand at the fastest pace owing to the mounting demand for branded apparel in developing regions.

Of the key regional markets for textile chemicals studied in the report, Asia Pacific accounted for over 50% of the global textile chemicals market in 2013. The rising demand for textile chemicals in industrial textiles and apparels in the region is expected to drive the global textile chemicals market over the report’s forecast period as well.Some of the key companies operating in the global textile chemicals market are The Dow Chemical Company, Lonsen, The Lubrizol Corporation, The Dystar Group, Kiri Industries, BASF SE, Bayer Material Science AG, Huntsman Corporation, Archroma, Solvay SA, and Omnova Solutions Inc.

The report segments the global textile chemicals market as:

Textile Chemicals Market - Product Segment Analysis

• Coating & Sizing Chemicals
• Colorants & Auxiliaries
• Finishing Agents
• Surfactants
• Desizing Agents
• Bleaching Agents
• Yarn Lubricants

Textile Chemicals Market - Application Analysis

• Home Furnishing
• Apparel
• Industrial & Other

Textile Chemicals Market - Regional Analysis

• North America
  • U.S.
  • Mexico
• Europe
  • European Union
  • Turkey
• Asia Pacific
  • China
  • India
  • Thailand
  • Indonesia
  • Rest of Asia
• RoW (South America, Africa and the Middle East)
  • Brazil

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