India Textile Auxiliaries Market to Grow with a CAGR of 3.68% through 2029
Growth in research and development activities is
expected to drive the India Textile Auxiliaries Market growth in the forecast
period, 2025-2029.
According to TechSci Research report, “India
Textile Auxiliaries Market- By Region, Competition, Forecast
and Opportunities, 2019-2029”, the India Textile Auxiliaries Market stood at USD588.24
million in 2023 and is anticipated to grow with a CAGR of 3.68% in the forecast
period, 2024-2029. Initiatives taken by government based on textile auxiliaries
has led to favorable market conditions for the India Textile Auxiliaries Market.
Several factors contribute to the growth of various textile auxiliaries products.
The Apparel Industry Sustainability Action (AISA) was
launched with the aim of boosting the sustainability of India's apparel and
textile sector. This holistic initiative encompasses various measures and
strategies that address environmental, social, and economic aspects of the
industry. By promoting the use of eco-friendly textile auxiliaries, AISA seeks
to align the production processes with the broader sustainability goals of the
industry, ensuring a greener and more responsible approach that benefits both
the environment and society as a whole.
Public Sector Undertakings (PSUs), established by the
government, play a vital role in managing the affairs of the textile industry
in India. These government-owned enterprises are responsible for the
production, distribution, and maintenance of various textile products. As part
of their operations, PSUs often require a wide range of textile auxiliaries to
enhance the quality, durability, and performance of their textile products.
This consistent demand for textile auxiliaries from PSUs serves as a catalyst
for the growth of the textile auxiliaries market, fostering innovation and
driving the development of new and improved auxiliaries to meet the specific
needs of the industry.
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Textile Auxiliaries Market.”
Research and development (R&D) plays a crucial and
indispensable role in driving the growth and advancement of the textile
auxiliaries market. As textile manufacturers strive to meet the ever-evolving
and diverse needs of various industries, the demand for innovative textile
auxiliaries has witnessed a significant surge. These auxiliaries, meticulously
developed through extensive research and experimentation, serve to enhance
multiple aspects of textiles. They not only improve color fastness, durability,
and texture but also contribute to making textiles more visually appealing,
functionally superior, and environmentally sustainable. The continuous pursuit
of R&D in the field of textile auxiliaries ensures that the industry
remains at the forefront of innovation, delivering cutting-edge solutions that
elevate the overall quality and performance of textiles in the global market.
The India Textile Auxiliaries Market is segmented into
product, application, regional distribution, and company.
Based on its product, the dyeing & printing agents
segment held the largest market share in the forecast period. Over the years,
technological advancements have significantly contributed to the widespread use
of dyeing and printing agents in various industries. One such example is the
emergence of modern techniques like digital printing, which has revolutionized
the textile industry. These advanced methods require specialized dyes and
pigments to achieve vibrant and high-quality prints, leading to an increased
demand for these materials in the market.
Moreover, continuous innovations in dyeing and
printing technologies have brought about remarkable improvements in the
efficiency and effectiveness of these agents. Textile manufacturers now have
access to more precise and efficient methods of dyeing and printing, resulting
in enhanced color vibrancy, durability, and overall product quality.
With the combination of cutting-edge technology and
advancements in dyeing and printing techniques, textile manufacturers can now
offer a wide range of products with intricate designs and vibrant colors. This
has not only expanded the creative possibilities but has also opened up new
opportunities for businesses in the textile industry to meet the ever-evolving
demands of consumers.
Based on region, West India segment is expected to
grow during the forecast period.
The Indian government has implemented several
comprehensive policies and initiatives to provide extensive support to the
textile industry, with a particular focus on the West India region. These
policies, such as the Technology Upgradation Fund Scheme (TUFS) and Integrated
Textile Parks (SITP), have been instrumental in fostering growth and
development in the textile and textile auxiliaries market. Through these
schemes, the government has encouraged investments, promoted innovation, and
facilitated the adoption of advanced technologies, leading to a significant
boost in the overall competitiveness and productivity of the industry. As a
result, the textile sector in West India has witnessed remarkable progress,
attracting both domestic and international players and contributing
significantly to the region's economic growth and employment opportunities.
Major companies operating in India Textile Auxiliaries
Market are:
- Archroma India Pvt. Ltd.
- Huntsman International (India) Pvt. Ltd.
- Rossari Biotech Limited
- Croda India Company Pvt. Ltd.
- Sarex Chemicals Limited
- Indofil Industries Limited
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“Growing application of textile auxiliaries in various
end user industries are key drivers of the textile auxiliaries market. Growth
in competitive landscape and presence of well-established companies in the
market who are dedicated to enhance their productivity of textile auxiliaries with
every passing year are anticipated to register an impressive growth to India
Textile Auxiliaries Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Textile Auxiliaries Market By Product (Dyeing & Printing Agents, Pretreatment
Agents, and Finishing Agents), By
Application (Technical Textiles, Home Furnishings, Apparel, and
Industrial Textiles), By
Region, By Competition Forecast
& Opportunities, 2019-2029”, has evaluated the future growth potential of India
Textile Auxiliaries Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Textile
Auxiliaries Market.
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