Textile Chemicals Market Key Players:
Sumitomo Chemicals Co., Ltd., AkzoNobel, Arkema, Kiri Industries, Lubrizol, BASF SE, Bayer AG, Dow Chemical Company, Huntsman International LLC, Omnova Solutions, Pulcra Chemicals, and Sumitomo Chemical among others are some of the prominent manufacturers in the competitive scenarios of Global Textile Chemicals Market and are profiled in MRFR Analysis.
Textile Chemicals Market surged to USD 9.80 Mn in 2017, the market will expand at CAGR of over 3.2% over the forecast period (2018-2022).
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Textile Chemicals Market Regional Analysis:
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.
Textile Chemicals Market Segmentation:
By application, the market is segmented into home furnishings, apparel, industrial textiles, and technical textiles. Increasing expenditure on home furnishings helps propel the textile chemicals market. Textile chemicals are used for carpets, rugs, furniture, and much more. Also, the rise in per capita spending on apparel has proved to be positive for the textile chemicals market.
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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.
Textile Chemicals Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Textile Chemicals Market
Textile Chemicals Market Table of Content to be Continue…….,
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