Textile Chemicals Market in India to Surpass $ 2.5 billion by 2021
Booming textile industry, increasing overseas demand
for locally manufactured textile products and favorable government initiatives
to drive India textile chemicals market through 2021
According to
TechSci Research report, “India Textile Chemicals Market By Product Type, By Application, Competition Forecast
& Opportunities, 2011 – 2021’’, textile chemicals market in India is projected to cross
US$ 2.5 billion by 2021. Rising global as well as domestic demand for high
quality textile products, growing textile production, favorable government
policies and increasing garments sourcing from India by international brands are
boosting demand for textile chemicals in the country. Textile chemicals are
used during the processing of textiles, and are broadly classified as
auxiliaries and colorants. Auxiliaries are chemicals used during almost all steps
of textile manufacturing process to provide specific characteristics to the
fabric, while colorants are used to impart color to the textile product. In 2015, Government of India sanctioned a corpus of more than US$ 154.73
million to the handloom, handicraft, silk, power loom and wool sectors to
promote the country’s textile industry. These initiatives are expected to boost
demand for textile chemicals in the country through 2021.
Browse 23 market data Tables and 61 Figures
spread through 109 Pages and an in-depth TOC on "India Textile Chemicals Market"
https://www.techsciresearch.com/report/india-textile-chemicals-market-by-product-type-auxiliaries-and-colorants-by-application-apparel-home-furnishing-technical-textile-by-region-competition-forecast-opportunities-2011-2021/707.html
In 2015,
India textile chemicals market was dominated by apparel industry with a value
share of more than 60%, followed by home furnishing and technical textile
sectors. Apparel industry is expected to continue its dominance over the course
of next five years on account of changing lifestyle and rising disposable
income of consumers. Further, the textile
ministry of India has announced and sanctioned setting up of textile parks
across the country to encourage textile production, which would boost demand
for textile chemicals in the coming years. Archroma, Huntsman, Rossari, Croda,
and CHT India are few of the leading players involved in production and distribution
of textile auxiliaries and colorants in India.
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Sales of textile chemicals in India exhibited strong growth
over the last five years on account of expanding textile industry in the country.
Additionally, growing overseas demand for textile products manufactured in
India is positively influencing demand for textile chemicals in the country. “The
Government of India is increasing its focus on the technical textile segment, as
it is an upcoming segment in the country’s textile industry. Technical textile
products are used for imparting durability, strength and safety to the textile
material. Anticipated growth in demand for technical textile products is
expected to boost consumption of textile chemicals through 2021”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Textile Chemicals Market By Product Type, By
Application, Competition Forecast & Opportunities, 2011 – 2021” has evaluated
the future growth potential of India textile chemicals market and provides
statistics and information on market size, consumer behavior and trends. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment evaluation. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers, challenges and
opportunities in India textile chemicals market.
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