Textile Chemicals Market

New Product Launches, Expansions, and Mergers & Acquisition Were Key Development Strategies Adopted by Leading Players in the Global Textile Chemicals Market

Textile chemicals are high functional chemicals which are widely used in textile manufacturing. They include a very broad class of chemical compounds such as scouring agents, sizing agents, surfactants, emulsifiers, coatings, desizing agents, bleaching agents, yarn lubricants, dyes, and others which are used extensively in yarn preparation, fabric formation, textile coloring, and finishing. These chemicals improve the appearance, durability, and overall functionality of fabrics. Growing demand for technical textiles and preference for exquisite home furnishing fabrics and aesthetics are the major factors driving the market for textile chemicals, globally. Increasing adoption of low VOC and biodegradable chemicals in textile manufacturing are also expected to offer opportunities for the growth of textile chemicals. The global textile chemicals market size is estimated at USD 26.00 billion in 2018 and is projected to reach USD 31.64 billion by 2023, at a CAGR of 4.0% between 2018 and 2023.

The key companies manufacturing textile chemicals were majorly involved in new products launches, expansions, and mergers & acquisition to strengthen their positions in the market. These were the most preferred strategies adopted by market players from 2014 to 2018. The rise in organic strategies such as new product launches indicate that companies are carrying out to R&D operations to bring innovation into their product portfolio to capture market share. Furthermore, increase in the number of expansions indicates that manufacturers are expanding their distribution networks, production capacity, and geographical reach to strengthen their position in the textile chemicals market.

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Major manufacturers such as Archroma (Switzerland), Huntsman (US), Tanatex Chemicals (Netherlands), DowDuPont (US), DyStar Group (Singapore), Wacker Chemie AG (Germany), Evonik Industries (Germany), Rudolf Group (Germany), and Bozzetto Group (Italy) are profiled in this report. These companies have adopted both organic and inorganic strategies to reach leading positions in the global textile chemicals market.

Archroma (Switzerland), Huntsman (US), Tanatex Chemicals (Netherlands), DowDuPont (US), DyStar Group (Singapore) are the leading players in the global textile chemicals market. These companies have broad product portfolios and strong geographical presence as well as strong positions in the textile industry.

Archroma (Switzerland) is one of the leading manufacturers of textile chemicals with a broad product portfolio, strong geographical reach, and strong position in the textile chemicals market. The company has expanded organically in the past few years by launching new products and expanding their manufacturing facilities to maintain its position as one of the global leaders in the textile chemicals market. In May 2018, the company introduced new aniline-free indigo, Denisol Pure Indigo 30 dye for denim materials. The new dye will be produced in the company facility in Pakistan and is expected to help designers and brand owners to manufacture indigo-dyed denim without having high levels of aniline impurities.

Huntsman is another major company operating in the textile chemicals market. It has recently adopted major strategies to further strengthen its position in the market. For instance, in July 2017, Huntsman’s Textile Effects introduced HIGH IQ SUN PROTECT, which provides an ultraviolet protection factor (UPF) of up to 50 and above. This is an extension to the company’s HIGH IQ performance assurance scheme which offers built-in sun protection in garments.

Related Reports:

Textile Chemicals Market by Fiber (Natural, Synthetic), Product Type (Coating & Sizing, Colorants & Auxiliaries, Finishing Agents, Desizing Agents, Surfactants), Application (Apparel, Home Textile, Technical Textile), and Region - Global Forecast to 2023

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