Textile chemical market to reach 33.1 billion USD by 2026

The report 'Textile Chemicals Market by Fiber (Natural, Synthetic), Product Type (Coating & Sizing, Colorants & Auxiliaries, Finishing Agents, Desizing Agents, Surfactants), Application (Apparel, Home Textile, Technical Textile) & Region – Global Forecast to 2026″ The global Textile Chemicals Market is estimated to be USD 26.5 billion in 2021 and is projected to reach USD 33.1 billion by 2026, at a CAGR of 4.6% from 2021 to 2026. Thedriving factor for the Textile Chemicals market is chemicals is growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.

Coating & Sizing Agents is expected to be the fastest-growing by product type in the Textile chemicals market during the forecast period.

Coating & Sizing Agents is the fastest-growing product type segment in the Textile chemicals market. In the process of sizing, various types of materials are applied to the yarn. It is a procedure carried out by applying a protective adhesive coating on the yarn. The main objective of sizing is to provide strength and glaze to the yarn. This improves the weaving efficiency by reducing yarn breakage. Coating is the process of depositing a polymeric layer on one or both sides of the textile substrate which enhances the functional properties. The chemicals used for sizing of yarns and textile coatings are called coating & sizing agents, which constitute an integral part of textile chemicals.

APAC accounted for the largest share of the Textile chemicals market in 2020. The Textile Chemicals market in APAC is driven by the demand from countries such as China, Japan, and India. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global Textile Chemicals market. The region' s strong industrial base and the growing middle-class populations have driven the demand for a variety of textiles such as technical textiles, home textiles, and apparel. Apart from this, favorable government policies, as well as low labor costs in countries such as India, Vietnam, and Bangladesh, are further strengthening the textile industry in these countries. Low production cost in these countries and huge installed textile production capacity in countries such as China has further attracted many international textile players in the region. This is expected to drive the demand for textile chemicals in the region. 

Textile chemicals is a diversified and competitive market with a large number of global players and few regional and local players. Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), Solvay (Belgium) are some of the key players in the market.