The global textile chemical market is anticipated to increase at a CAGR of four per cent from 2016 to 2024. Asia Pacific is the leading market for textile chemical industry. It has accounted for over half of the gross revenues in the world over the past couple of years. Increasing initiatives in countries like India to retain a healthy growth in the textile industry is one of the driving factors of this market. Fast growing markets like China, Vietnam, Bangladesh and Malaysia are triggering the demand in the textile chemical market.
The global textile chemical market has products like surfactants, desizing agents, colorants and auxiliaries, coating and sizing chemicals, yarn lubricants and finishing agents. The market is further segmented into home furnishing, apparels, industrial and others. Market segments in terms of geographical regions include North America, Europe, Asia-Pacific and Rest of the World.
Textile chemicals are specialty chemicals which are in demand due to an increase in the variety of fabric manufacturing. These chemicals help impart better quality, flexibility and durability to the fabrics. They are the crucial part of the textile industry and play a vital role in manufacturing different type of fabrics like water resistant fabrics etc.