The global textile chemicals market size is expected to grow from $23.45 billion in 2021 to $24.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.23%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global textile chemical market size is expected to reach $29.33 billion in 2026 at a CAGR of 4.67%.
Technological development is a key trend gaining popularity in the technical textile chemicals market. Companies in the textile chemistry market are focusing on developing textiles with the latest technologies like non-fluorinated durable water repellence and eco-friendly digital printing. For instance, in September 2021, India-based specialty chemicals company, Cosmo Speciality Chemicals, launched Superwash POL, a dye transfer inhibitor to prevent textiles from bleeding and staining. The specially formulated agents provide the amphiphilic character with polar groups and hydrophilic properties with un-polar groups, which prevent textiles from dye bleeding and redepositing on different colored textiles and white.
Major players in the textile chemicals market are Dow Inc, Wacker Chemie AG, Huntsman Corporation, Solvay, BASF SE, Archroma, Evonik Industries AG, Tanatex Chemicals, Kemin Industries, CHT Group, The Lubrizol Corporation, Kiri Industries Limited, Kemira, Tata Chemicals Ltd., GIOVANNI BOZZETTO S.p.A, AkzoNobel NV, FCL, Indofil, Pulcra Chemicals, NICCA Chemical Co.Ltd, JINTEX Ltd, Sarex Chemicals, DIC Corporation and Lonsen Inc.
TBRC’s global textile chemicals market forecast report is segmented by product type into coating and sizing chemicals, finishing agents, colorants and auxiliaries, surfactants, desizing agents, yarn lubricants, bleaching agents; by application into apparel, home furnishing, automotive textile, industrial textile, others.
