US Textile Chemicals Market to Cross USD2 Billion by 2020
Anticipated increase in demand for home as well as technical textiles to drive consumption of textile chemicals in United States through 2020
Use of textile chemicals during the manufacturing and processing of textile products enhances product quality and provides special properties to the fabric. Due to such properties, usage of these chemicals in textile manufacturing is increasing. According to recently published TechSci Research report “United States Textile Chemicals Market Forecast and Opportunities, 2020”, the United States textile chemicals market is forecast to cross USD2 billion by 2020. The textile chemicals market is broadly classified into two different segments, i.e. auxiliaries and colorants. Due to rising labor cost internationally, domestic textile manufacturers are shifting their focus on local production, thereby reviving the textile sector in the United States. Currently, the leading manufacturers of textile chemicals operating in the United States are DuPont, DOW Chemicals and BASF.
In spite of the decline in production capacity over the last few years experienced by the textile industry, the market is anticipated to recover during the forecast period due to the increasing focus on domestic production, which in turn is expected to fuel demand for textile chemicals. In addition, increasing consumer preference towards domestically manufactured goods due to their high quality and ongoing promotion of the ‘Made in USA’ campaign is expect to positively impact the country’s textile chemicals market. Exports of textile products from the United States are also increasing due to growing demand for superior quality products in the international markets.
“In United States textile chemicals market, the textile auxiliaries account for a higher share in revenue terms in comparison to colorants due to their inevitable usage during textile production process. Presently, home textile application segment holds the dominating share, however, consumption of textile chemicals intechnical textile segment is expected to grow at a faster rate over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Textile Chemicals Market Forecast and Opportunities, 2020” has analyzed the potential of textile chemicals market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the textile chemicals industry in the US.