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Global Textile Chemicals Market Report to 2027 – Rising Living Standards Contribute to Market Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Global Textile Chemicals Market by Type, by Application, by Region, Competition, Forecast and Opportunity, 2017-2027” has been added to from ResearchAndMarkets.com offer.

The global textile chemicals market is expected to reach a value of USD 23.94 billion in 2027 growing at a CAGR of 5.85% owing to increasing capacity utilization in the apparel industry.

Since the beginning of the textile industry, efforts have been made to create long-term value in people’s lives. The expansion of the textile chemicals market has been fueled by the increase in consumption across the globe. Textile chemicals are in high demand due to their seamless applications in a wide range of industries. The textile industry is also benefiting from the emergence of modern technologies needed to manufacture textile chemicals.

The home textile industry and the garment industry have witnessed higher demand, which is driving the growth of the textile chemicals market. Governments of various countries are increasing their business potential in the textile chemicals market. With the inclusion of modern low-impact materials and technologies, as well as strategies based on the circular economy, sustainability has remained a significant concern for the global textile chemicals market.

Population growth and increased consumption

A significant factor behind the growth of textile chemicals market consumerism is population and people across the globe seem to be highly dependent on textile chemicals and their end applications. The population, in general, is increasing across the world and will follow the same trend in the years to come. Population and consumption generally go hand in hand. It is therefore plausible that the growing population across the world is contributing to the escalation of the market as the demand increases with the increase in population.

Development of infrastructure facilities in the APAC region

Historically, limited regions around the world had sufficient potential to produce the textiles that could satisfy consumer needs. Pricing was dynamic because the installation of manufacturing facilities was happening in very few parts of the world, ultimately making the market more anti-competitive. However, over time, the technology penetrated the market and new players started setting up their factories to manufacture textiles. With the boom in textile manufacturing, the textile chemicals market has started attracting investors from all over the world.

APAC has been a pioneer in manufacturing textile chemicals and supplying them to other parts of the world that have either closed their production sites or do not have the economic means to run the machinery to produce the textiles. China, the leading country in the APAC region, is a leading player in the global textile chemicals market. In fact, during economic crises, the textile industry in China has experienced slight growth due to the dominance attributed to the availability of cheap labor and flexible environmental and government laws applied to produce textiles and materials. clothes.

Rising standard of living contributes to market growth

The gradual improvement in the standard of living has led to a remarkable change in people’s fashion habits, which has contributed to the growth of the global textile chemicals market. Over time, people have realized the usefulness of textile products and they have become more concerned about their health, and prefer environment-friendly textile products as well as premium textiles and so they started to use them on a large scale in various applications. , which subsequently increased the overall market size of the global textile chemicals market.

Free Trade Agreements have a positive impact on market growth

In recent years, various free trade agreements have been signed between different countries around the world. In addition, important trade pacts such as the Trans-Pacific Partnership (TPP) are currently under consideration. As a result of these free trade agreements, various taxes on textile items have been reduced or removed, resulting in a substantial increase in textile imports and exports, which is expected to strengthen the textile market.

Report Scope:

In this report, the global textile chemicals market has been segmented into the following categories, in addition to industry trends which have also been detailed below:

Textile Chemicals Market, By Type:

  • Auxiliaries

  • Dyes

  • Others

Textile Chemicals Market, By Application:

  • Clothes

  • Household linen

  • Technical Textiles

  • Others

Textile Chemicals Market, By Region:

  • Asia Pacific

  • China

  • India

  • Pakistan

  • Indonesia

  • South Korea

  • Thailand

  • Vietnam

  • Bangladesh

  • Europe

  • Italy

  • Romania

  • Poland

  • Portugal

  • Germany

  • UK

  • North America

  • United States

  • Mexico

  • Canada

  • South America

  • Brazil

  • Argentina

  • Colombia

  • Middle East and Africa

  • South Africa

  • Saudi Arabia

  • United Arab Emirates

  • Egypt

  • Iran

Companies cited

  • BASF SE

  • Huntsman International LLC

  • Archrome

  • DyStar Colors Deutschland GmbH

  • Sumitomo Chemical Co., Ltd.

  • Kiri Industries Ltd

  • sarex

  • SF Dyes Limited Liability Company

  • Finotex

  • Siam Textile Chemicals Limited

For more information about this report visit https://www.researchandmarkets.com/r/72rfa1