Vietnam Textile Chemicals Market to Grow with a CAGR of 4.28% through 2029
Growth
technological advancements in textile industry is expected to drive Vietnam
Textile Chemicals Market in the forecast period 2025-2029.
According to TechSci
Research report, “Textile Chemicals Market – Vietam Industry Size, Share,
Trends, Opportunity, and Forecast, 2019-2029F”, the Vietnam Textile Chemicals
Market stood at USD 90.56 million in 2023 and is anticipated to grow with a
CAGR of 4.28% in the forecast period. The government's proactive measures
regarding textile chemicals have created favorable conditions for the Vietnam
Textile Chemicals Market. Various factors contribute to the growth of different
textile chemical products.
On August 6th, 2022, a
significant milestone was achieved when the Vietnam government approved
Resolution 115/NQ-CP. This resolution outlines a comprehensive strategy to
boost the development of supporting industries in Vietnam from 2020 to 2030,
with a particular focus on enhancing the textile sector. The resolution
underscores the importance of sustainable practices, implicitly highlighting
the necessity for responsible management and utilization of textile chemicals.
In collaboration with the Vietnam Cleaner Production Centre, the government has
initiated an innovative partnership aimed at evaluating circular concepts and
business models within the textile industry. This collaborative endeavor seeks
to explore novel approaches like chemical leasing, which advocate for the
responsible use and recycling of textile chemicals. Through the adoption of
such forward-thinking strategies, Vietnam is proactively advancing towards
establishing a sustainable and environmentally conscious textile industry.
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over XX market data Figures spread through XX Pages and an in-depth TOC on
"Vietnam Textile Chemicals Market”
In the dynamic textile
industry, constant evolution and adaptation are imperative to meet the evolving
needs of consumers. Research and development (R&D) emerge as crucial
components in this ever-evolving landscape, serving as catalysts for innovation,
quality enhancement, and sustainability promotion.
The Vietnam Textile
Chemicals Market is segmented in product, application, regional distribution,
and company.
Based on application, the
apparel segment held the largest share in the market. Vietnam's textile
industry is heavily skewed towards garment manufacturing, with apparel
constituting a significant portion of the country's textile exports. This high
demand for apparel necessitates a correspondingly large volume of textile
chemicals for processes such as dyeing, finishing, and enhancing fabric
properties. The apparel segment typically requires a wide variety of chemical
treatments to achieve desired colors, textures, and functionalities, driving
the demand for a diverse range of textile chemicals. The rapid growth of Vietnam's garment
industry, fueled by favorable government policies, low labor costs, and
increasing export opportunities, further amplifies the dominance of the apparel
segment in the Vietnam Textile Chemicals Market.
Based on region, Central
Vietnam segment is expected to grow during the forecast period. Central
Vietnam's geographical location places it at the heart of the country,
providing convenient access to major markets in the region and facilitating
seamless import and export operations. This prime location enables efficient
distribution and timely response to market demands, bolstering the region's
attractiveness for textile manufacturing. Central Vietnam boasts robust
infrastructure tailored to support the textile industry. Well-established
roads, ports, and airports ensure smooth transportation of raw materials and
finished goods, while reliable power supply and modern telecommunication networks
enhance operational efficiency. These infrastructure advantages further elevate
Central Vietnam's appeal as a textile manufacturing hub. The thriving textile
manufacturing industry in Central Vietnam drives significant demand for textile
chemicals. The availability of high-quality chemicals, combined with the
region's skilled workforce and favorable business environment, makes Central
Vietnam an attractive destination for textile and garment manufacturers. This
concentration of manufacturing activity further solidifies the region's
dominance in the Vietnam Textile Chemicals Market, positioning it as a key
player in the country's textile industry landscape.
Major
companies operating in Vietnam Textile Chemicals Market are:
- NICCA VIETNAM CO.,
LTD.
- Jintex Vietnam
Company Limited
- Avco Vietnam Company
Limited
- Dow Chemical
International Limited
- Evonik Vietnam
Limited Liability Company
- Lautan Luas Vietnam
Company Limited
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“The Vietnam
Textile Chemicals Market include the country's rapid industrialization, growing
textile industry, emphasis on sustainability, participation in free trade
agreements, and technological advancements. These factors fuel demand for
textile chemicals, including dyes, finishing agents, and auxiliaries, driven by
increased production volumes, export opportunities, and evolving consumer
preferences. Government initiatives promoting the textile sector, such as
infrastructure development and support for research and development, further
stimulate market growth. These drivers collectively contribute to the expansion
and competitiveness of the Vietnam Textile Chemicals Market in the global
textile industry” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Vietnam Textile Chemicals
Market By Product (Coating & Sizing Chemicals, Colorants & Auxiliaries,
Finishing Agents, Surfactants, Others), By Application (Apparel, Home
Furnishing, Technical Textiles, Others), By
Region, By Competition Forecast &
Opportunities, 2029F”,
has evaluated the future growth potential of Vietnam Textile Chemicals 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 Vietnam Textile Chemicals Market.
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