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Global Textile Chemicals Market is projected to reach USD 25.42 billion by 2020, expanding at a CAGR of 3.7% from 2014 to 2020 : Transparency Market Research

Albany, NY, March 3, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Textile Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global textile chemicals market was valued at USD 19.66 billion in 2013 and is Expected to reach USD 25.42 billion by 2020, expanding at a CAGR of 3.7% from 2014 to 2020.

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Textile chemicals are generally defined as compounds, intermediates and chemicals used in processing and manufacturing of textiles. Textile chemicals improve and optimize the manufacturing process, endowing the final products with a specific function or particular desirable appearance. For instance, greenhouse fabrics (that reflect the sun), flameproof furniture fabrics and durable airbags for vehicles. Coating & sizing chemicals was the largest product segment of the global textile chemicals market, accounting for more than 30% of the global market volume in 2013. Home furnishing was the largest application segment of the global textile chemicals market in 2013, due to rising demand from the residential construction industry. In terms of volume, the segment accounted for more than 33% of the global market in 2013.

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Finishing agents is expected to be the fastest growing segment of the global textile chemicals market in the next few years. Increasing demand for these types of textile chemicals can be primarily ascribed to the requirement of better-finished fabrics. Additionally, apparel segment is estimated to be the fastest growing application segment of the global textile chemicals market in the next few years. Increasing demand for apparels in developing regions is likely to drive the demand for textile chemicals in the apparels application segment in the next few years.

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Asia Pacific dominated the Global Textile Chemicals Market, accounting for more than 50% of the total market volume in 2013. Rising demand for textile chemicals in apparels and industrial textiles segments is likely to drive the textile chemicals market in Asia Pacific in the next six years. Asia Pacific is expected to be the fastest growing region in the textile chemicals market in the next few years. Increasing demand for textile chemicals in fast developing nations in Asia, such as India and China, is expected to drive the textile chemicals market in Asia Pacific in the next six years. Furthermore, factors such as steady economic recovery in the U.S. and Europe and higher demand for textile chemicals in RoW are anticipated to boost the global textile chemicals market in the next few years. Key players operating in the textile chemicals include The Dow Chemical Company, Solvay S.A., Zhejiang Longsheng Group Co. Ltd (Lonsen), Archroma (formerly Clariant), BASF SE, and The DyStar Group.

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The Report Segments the Global Textile Chemicals Market as:

Textile Chemicals Market - Product Segment Analysis

  • Coating & Sizing Chemicals
  • Colorants & Auxiliaries
  • Finishing Agents
  • Surfactants
  • Desizing Agents
  • Bleaching Agents
  • Yarn Lubricants

Textile Chemicals Market - Application Analysis

  • Home Furnishing
  • Apparel
  • Industrial & Other

Textile Chemicals Market - Regional Analysis

North America

  • U.S.
  • Mexico

Europe

  • European Union
  • Turkey

Asia Pacific

  • China
  • India
  • Thailand
  • Indonesia
  • Rest of Asia

RoW (South America, Africa and the Middle East)

  • Brazil

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Source:Transparency Market Research