Albany - NY, Oct. 19, 2015 (GLOBE NEWSWIRE) -- Rising demand for high-quality, texture-exquisite fabrics is fueling the growth of the Europe textile chemicals market , states Transparency Market Research in its recently published report. The 80-page comprehensive report is titled "Textile Chemicals Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" and is available for sale on the company website. Registering a 4.2% CAGR from 2014 to 2020, the Europe textile chemicals market stands to grow from US$1.24 billion in 2013 to US$1.64 billion by 2020. Growth in mobiltech, rising demand for hometech, surge in research and development activities, presence of various government initiatives, and increasing importance of geotextiles has contributed to the growth of the textile chemicals market over the years. However, emergence of biobased alternatives and rising environmental concerns are anticipated tochallenge the European market.
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Textile chemicals, chemical compounds used in the manufacturing and processing of textiles, enhance as well as optimize the entire process and lend remarkable properties to the final products to suit a desired appearance or specific functions. By product, the textile chemicals market is segmented into desizing agents,yarn lubricants,colorants and auxiliaries,finishing agents,bleaching agents,surfactants, and coating and sizing chemicals. The coating and sizing segment held a dominant share in 2013, accounting for 30% of the textile chemicals market in Europe. However, growing demand for high-quality fabrics is likely to push the finishing agents segment to become the fastest growing product by 2020.
With a 25% share of the overall textile chemicals market in Europe in 2013, mobiltech registered the highest growth among all other applications, presenting extensive demand from the ship, automotive, spacecraft, railway, and aircraft industries. The agrotech segment is likely to be the most rapidly developing application segment by 2020, according to the TMR report. Agrotech textiles have immense potential for usage in agriculture, floriculture, forestry, horticulture, and landscape gardening. There has been a significant increase in the number of organic farms in Europe, which has impacted the dynamics of technical textiles in the region. This will in turn fuel the demand for agrotech textiles by the end of the forecast period.
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Prominent players in the Europe textile chemicals market include ArchromaManagement LLC, BASF SE, Bayer MaterialScience AG, The Lubrizol Corporation, Solvay S.A., Omnova Solutions Inc., Zhejiang Longsheng Group Co., Ltd. (Lonsen), The DyStar Group, The Dow Chemical Company, Kiri Industries Limited, and Huntsman Corporation. These companies have been profiled in the textile chemicals market report on the basis of attributes such as company and financial overview, product portfolio, recent developments, and business strategies.
Textile Chemicals Market for Technical Textiles - Europe Product Segment Analysis
- Coating & Sizing Chemicals
- Colorants & Auxiliaries
- Finishing Agents
- Desizing Agents
- Bleaching Agents
- Yarn Lubricants
Textile Chemicals Market for Technical Textiles - Europe Application Analysis
Other Applications (Including Geotech and Oekotech)
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Source:Transparency Market Research