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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