Textile Chemicals Market Growth Analysis

1. Textile Chemicals Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2021-2028

2. Global Textile Chemicals Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global textile chemicals market was worth USD 26.4 billion in 2021 and is forecast to reach USD 35.7 billion by the end of 2028. The global textile chemicals market is flourishing owing to the increasing demand for textiles and apparels due to changing fashion trends, increasing population as well as rising disposable income of the consumers. In addition, a growing number of small and medium-sized enterprises engaged in clothing and the development of biodegradable textile chemicals are anticipated to provide lucrative growth opportunities for the market in the forecast period. Although awareness of the hazards of textile chemicals may act as a huge restraint, the market for textile chemicals is still developing.

3. Growth Drivers  Flourishing Fast Fashion Industry The rapid growth in the fast fashion industry is emerging as one of the major growth factors for textile chemicals. The continuously changing fashion trends, increasing disposable income and exposure to media and global fashion trends is boosting the growth of the fast fashion industry. In the fast fashion industry, textile chemicals are used in large quantities because it helps to make clothes trendy while keeping the cost low, which is expected to drive the market growth during the forecast period.

4. Restraints  Negative Impact of Textile Chemicals on Environment Increasing awareness of the hazards of textile chemicals is emerging as the major restricting factor for the growth of the textile chemicals market. The textile industry uses many chemicals that can potentially harm humans and the environment. The US Environment Protection Agency has already declared Perfluorinated acids, which are used as a finishing agent, hazardous to human health. Although the companies are focusing on developing biodegradable chemicals, their mass adoption is still in the early stages.

5. Impact of COVID-19 The unprecedented COVID-19 pandemic outbreak has had a negative impact on the growth of the global textile chemicals market. The manufacturing and production of textile were halted due to nationwide lockdowns imposed in different parts of the world. The restrictions on distribution channels for both textile as well as chemicals were also hindered during the pandemic. The market may also face difficulties caused by the increasing awareness regarding the drastic effects of textile chemicals, as well as increasing discussion surrounding the fast fashion industry, which may limit the market growth. Sample Copy: https://www.blueweaveconsulting.com/report/textile-chemicals-market/report-sample

6. Regional Insights Geographically, the global textile chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Asia-Pacific accounts for the largest share in the textile chemicals market owing to the expanding textile manufacturing industry. The low cost and high-volume production are making emerging economies such as China, India, Japan, etc., the largest exporters of textiles in the world, which is further fueling the demand for textile chemicals. However, North America is also growing at a significant rate, and will likely grow at the fastest pace during the forecast period.

7. Competitive Landscape The leading players in the global textile chemicals market are Achitex Minerva SpA, Archroma, Sarex, Giovanni BozzettoSpA, Rudolf GmbH, Chemipol, Nouryon, CHT Group, Kiri Industries Ltd., Covestro AG, L. N. Chemical Industries, Croda International PLC, K-Tech Limited, Dow, Kemira, Evonik Industries AG, Huntsman International LLC, Formosa Organic Chemical Industry Co., Ltd., Tanatex Chemicals BV, and other prominent players.

8. Recent Development In January 2022, Origin Materials, a US-based carbon-negative materials company, announced its strategic partnership with Mitsui Group, a leading Japanese conglomerate, to industrialize advanced carbon-negative materials including textile and chemicals.

9. Key Players Achitex Minerva SpA, Archroma, Sarex, Giovanni BozzettoSpA, Rudolf GmbH, Chemipol, Nouryon, CHT Group, Kiri Industries Ltd., Covestro AG, L. N. Chemical Industries, Croda International PLC, K-Tech Limited, Dow, Kemira, Evonik Industries AG, Huntsman International LLC, Formosa Organic Chemical Industry Co., Ltd., Tanatex Chemicals BV, and other prominent players.

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