Technical Textile Chemicals Market To Grow With Over 4.6% CAGR During Forecast Period
Global Technical Textile
Chemicals Market is driven by growing demands for technical textile in the
forecast period, 2023-2027.
According to TechSci Research
report, “Technical Textile Chemicals Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2017-2027” The global technical textile
chemicals market may show a robust growth in the forecast years, 2023-2027 with
over 4.6% CAGR. Market value of the global technical textile chemicals market
was USD8.6 billion in the year 2021, and the further growth of the market can
be attributed to the factors like growing demands for technical textiles.
Surging demands for the specialty technical textiles from the fashion industry
as well as the healthcare industry for the PPE kits are further driving the
growth of the global technical textile chemicals market in the upcoming five
years. Increasing product and application development of the technical textiles
are major factors responsible for the market growth. Growing construction and
infrastructure development all over the world also support the growing demands
and thus the growth of the global technical textile chemicals market in the
next five years. Sales & production in the developing countries mostly the
southeast Asian countries are aiding the market growth in the future five
years. Rapid industrialization & globalization in the weaker economies with
abundance of raw material and growing demands for the technical clothing
further facilitate the growth of the global technical textile chemicals market
in the forecast years through 2027.
Growing investment in
multiple end use industry to advance their expansion, technological advancement
in the product manufacturing, and consistent research for the product
development further play vital roles in the growth of the global technical
textile chemicals market in the forecast period.
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The global technical textile
chemical market segmentation is based on material type, fibers, application,
end use, regional distribution, and competitive landscape. Based on material
type, the market is further segmented into coating and sizing chemicals, colorants
and auxiliaries, finishing agents, and others. By fibers, the market is
fragmented into regular, high tenacity, high performance, special performance,
and others. Regular fibers are anticipated to hold the largest revenue shares
of the market and dominate the market segment in the upcoming five years on the
grounds of growing demands from the multiple industries for the regular fibers.
Also, cost effectiveness and durability of the regular fibers play major role
in driving the growth of the global technical textile chemicals market in the
next five years. High tenacity fibers may register fastest growing CAGR value
in the future five years due to its tensile strength and its application for
the heavy lifting purposes.
Based on application, the market
is also bifurcated into clothtech, sporttech, protech, hometech, indutech,
medtech, mobiletech, and buildtech. By end-use, the market is sub-segmented
into hygiene & medicals, furniture & upholstery, automobiles, building
and construction, sports & leisure, personal protection, Agri &
forestry, and others.
Some of the market players,
dominating the global technical textile chemicals market are
·
The
Dow Chemicals Company
·
BASF
SE
·
Huntsman
International LLC
·
Archroma
·
E.I.
du Pont de Nemours and Company
·
DyStar
Colours Deutschland GmbH
·
Lubrizol
Corporation
·
Eastman
Chemical Company
·
3M
Company
·
Bayer
MaterialScience AG
·
Lanxess
AG
·
Sumitomo
Chemicals
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“Asia Pacific region is
anticipated to dominate the regional analysis of the market and hold largest
revenue shares of the market on account of growing construction industry in the
regions. Growth of infrastructure and increasing numbers of high rise building
in the growing economies like China, India, and other southeast Asian countries
further drives the growth of the global technical textile chemicals market in
the next five years. Other end use industries like automotive industry,
healthcare industry, etc. is further expanding and surging the demands for the
technical textiles. Moreover, since the southeast Asian countries have cheap
labor and affordable raw materials the production scale is higher. Also, growing
research and development of the advanced products is increasing and thereby
aiding the growth of the market in the next five years. North America region is
also anticipated to hold significant growth in the near future due to growing
market players in the countries like the United States, Canada, etc. New market
players are anticipated to invest in research and advanced product development
to satisfy the growing demands for advanced and innovative technical textiles
thus enable the brand establishment for the new market entrants,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Technical Textile
Chemicals Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2017-2027 Segmented By Material
Type (Coating and Sizing Chemicals, Colorants and Auxiliaries, Finishing
Agents, and Others), By Fibers (Regular, High Tenacity, High Performance,
Special Performance, Others), By Application (Cloth-tech, Sport-tech, Pro-tech,
Home-tech, Industry-tech, Med-tech, Mobile-tech, Build-tech), By End-Use
(Hygiene & Medicals, Furniture & Upholstery, Automobiles, Building and
Construction, Sports & Leisure, Personal Protection, Agri & Forestry
Others), By Region”, has evaluated the future
growth potential of global technical textile chemicals 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 global technical textile chemicals market.
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