In 2027, The Global Textile Chemicals Market Is Expected To Generate US $35.4 Billion In Revenue

The global textile chemicals market is expected to generate US $35.4 billion in revenue by 2027, with a CAGR of 4.3% in the 2020-2027 forecast period.

Reasons for growth

The rapid growth of the clothing industry and the increasing penetration of online retail stores have promoted the growth of textile chemicals market. These chemicals are added to the fabric during processing to give the garment new characteristics. Some specific properties include antibacterial, sweat absorption, stain resistance, crease resistance, fabric surface treatment, and the special texture required.

However, harmful chemicals released into the environment in the manufacturing process have a negative impact on human health, thus restricting market growth. In addition, government regulations on the use of textile chemicals are expected to hinder market growth. Nevertheless, manufacturing companies are shifting their focus to green chemicals, or biochemicals, which are expected to open up new opportunities for market growth in the next few years. These biochemicals are environmentally friendly and cost-effective because they are made up of vegetable and animal fats.

Coatings and chemicals will dominate the global textile chemicals market in 2019 and are expected to continue to dominate. The coating material is usually a thermoplastic polymer, which provides strength to the yarn and improves wear resistance during weaving. This reduces the risk of yarn breakage and wear during weaving.

On the other hand, the increasing preference for non-toxic dyes is expected to significantly promote the growth of this market segment. In addition, the development of environmental colorants technology innovation is to accelerate the market growth of other major factors. Natural dyes are mainly used for the coloring of leather and fibers such as silk, cotton and wool. Due to the increasing consumer preference for organic and non allergic printed fabrics, the demand for environmentally friendly dyes is expected to flourish in the near future.

In 2019, the clothing industry has a significant revenue share in the global textile chemicals market, and the clothing industry is increasing investment to capture unique market selling points, such as antifouling agents, soft finish, wrinkle resistance and antibacterial properties, to provide additional performance and comfort, which are key factors driving market growth. In addition, the improvement of living standards, the modernization of clothing industry, the increase of disposable income and the growth of population are also the main factors to promote the growth of clothing industry.

Due to the increasing demand for smart textiles, the profits of technology textiles are expected to increase significantly through the production of products with dynamic functions through smart materials. In addition, the application and innovation of automotive textiles and other industrial textiles are increasing, which provides new business opportunities for technical textiles in the industry.

As the world's largest textile producer, the Asia Pacific region has a strong attraction in the global textile chemicals market in 2019 and is expected to continue to grow substantially. China accounts for more than 60% of the global market share. The major factor in the growth of textile production capacity in the region. As early as 2016, China's total revenue from its textile export business amounted to $206 billion.

In addition, the consumption of textile chemicals in North America has also increased in terms of clothing demand. In addition, the increase of automobile production also promotes the growth of automobile textiles in the region.

Overall, the global textile chemicals market offers significant opportunities for new development and product customization due to rapid changes in consumer preferences. Market participants will choose sustainable solutions for long-term benefits. In addition, they mainly focus on purchasing high-quality raw materials, which determine the quality of finished products.