India Textile Chemicals Market to Grow by more than 9% through 2019
Textiles
have symbiotic relationship with textile chemicals. Increasing demand for textilesis
boosting the consumption of textile chemicals across the globe. Textile
chemicals are speciality chemicals used in textile processing industries for
dyeing and processing of textiles during pre-treatment, dyeing and printing
& finishing processes. These chemicals help in imparting the desired
characteristics and aesthetic properties to the fabric. More than 100 chemicals
are used during textile processing, however, they are broadly divided into two
categories - Colorants and Auxiliaries.
According
to a recently published TechSci Research report “India Textile Chemicals Market Forecast and Opportunities, 2019”,
the demand
for textile chemicals in India is forecast to grow at a CAGR of more than 9%
during 2014-19.As of 2013, more than 300 large and small players were
engaged in manufacturing textile chemicals in India. Small scale players are
mainly thriving on government support in the form of hefty concessions in
excise duties and other financial incentives in setting up business operations.
Rising demand for innovative textile products like technical textiles is one of
the major factors driving textile chemicals market in India. Of these, the
market share of colorants in value terms is more than that of auxiliaries as
the average selling price of colorants is much higher than that of auxiliaries.
However, the volume consumption of colorants is much less than that of
auxiliaries as they are used at almost all the stages of textile processing.
Major players such as Clariant, BASF and Huntsman are
increasing their focus on product innovation to offer eco-friendly products
with additional functional properties. Textile manufacturing companies are also
inclining towards bio-auxiliaries and other eco-friendly chemicals to decrease
the environmental effects of manufacturing textile chemicals.
“In India’s textile chemicals
market, colorants account for a significant share in revenue terms due to
increasing global prices of dye intermediates. This market segment is expected
to grow over the next five years on account of increasing demand for darker
shades and high quality products. Moreover, technical textiles segment is
expected to witness inflow of new investments, which would boost the demand for
innovative and high performance textile chemicals through 2019 in India.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Textile Chemicals Market Forecast and Opportunities, 2019” has evaluated the future growth potential of
India textile chemicals market and provides statistics and information on
market structure and industry behavior trends. The report includes textile
chemicals market projections and demand forecasting. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
available in textile chemicals market in India.About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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