Textile Chemicals Market Size to Reach $26.40 Billion by 2027; Driven by Massive Investment in R&D of Green Chemicals for Manufacturing

The global textile chemicals market size is projected to reach USD 26.40 billion by the end of 2027. The massive investment in green-textile chemicals will bode well for the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Textile Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (Coating & Sizing Chemicals, Colorant & Auxiliaries, Finishing Agents, Surfactants, De-sizing Agents and Others), By Application (Apparel, Home Furnishing and Technical Textiles) and Regional Forecast, 2020-2027,” the market was worth USD 20.85 billion in 2019 and will exhibit a CAGR of 3.2% during the forecast period, 2020-2027.

Textile chemicals are liquids that are used to treat textile products in several manufacturing phases. The stages in a textile manufacturing product include dyeing, printing, mercerizing, scouring, and finishing. The chemicals are used to mould and treat textile products during the manufacturing process. The rise in use of textile and textile fabrics in day-to-day applications will create several growth opportunities for the companies operating in the market. The extensive use of the product is consequential to the demand for high-end and supreme quality textile products across the world. The presence of several large scale textile manufacturers will aid the growth of this overall market in the forthcoming years. The widening application scope of textile products across diverse industry verticals will ultimately emerge in favor of market growth.

Huntsman Corporation Introduces New Dye for Polyester Sport

The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. Accounting to the increasing production capacities, textile chemicals have been in huge demand in recent years. Several companies are looking to capitalize on the rising demand by introducing newer products that will help them stand out from the rest. In March 2020, Huntsman Corporation announced the launch of a new product in the polyester range. The company introduced ‘Terasil Blue W Dye,’ a high performance polyester sport and athleisure wear. The company states that this product will possess exceptional properties such as wash fastness. The use of Terasil Blue will help reduce energy consumption and allow water savings in textile mills. Huntsman Corporation’s latest product will not only help the company grow, but will also encourage other companies in the market; subsequently aiding the growth of the global market.

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https://www.fortunebusinessinsights.com/textile-chemicals-market-103284

Rising Product Applications will Provide Impetus to Market Growth

The rising applications of the product have created several opportunities for the growth of the companies in the market. Accounting to the increasing applications of the product, major companies are looking to invest huge capitals with a bid to acquiring a stronghold in the market. The rising demand for the product driven by applications across chemicals and apparel industry will bode well for the growth of the overall textile chemicals market in the coming years.

Company Mergers are an Increasing Trend among Major Businesses

Due to the increasing demand for textile chemicals, there are several large scale companies operating in numerous countries across the world. Due to healthy market competition, large scale businesses are looking to collaborate with each other to acquire a wider consumer base. These collaborations benefit both the companies in terms of revenue as well as company profile.

List of companies profiled in the report:

• Archroma (Switzerland)


•  Huntsman Corporation (USA)


• DIC Corporation (Japan)


•  Kiri Industries Ltd. (India)


•  Covestro AG (Germany)


•  Omnova Solutions Inc. (USA)


•  Lubrizol Corporation (USA)


•  Solvay S.A. (Belgium)


• Evonik Industries (Germany)


• Tanatext Chemicals (Netherlands)


• Rudolf GmbH (Germany)


• NICCA Chemical Co. Ltd. (Japan)


• Kemin Industries Inc. (USA)


• JINTEX Ltd. (Taiwan)


• Sarex Chemicals (India)

Industry Developments:

• October 2019 – Huntsman Corporation announced the launch of a new low-cost dye. The company introduced ‘ERIOPON E-3 SAVE’ dyeing auxiliary to cut cost of polyester dyeing.

The global market is segmented on the basis of: