Asia Pacific is the leading market by revenue for the textile chemicals industry, accounting for over half of the gross worldwide revenue over the past couple of years, according to a new market survey report. Increasing government initiatives in countries like India to retain healthy growth in textile industry is one of the driving factors of this market.
The revenue of the global textile chemicals market, valued at more than 9.5 million tonnes in 2015, is projected to increase at a compounded annual growth rate of 4 per cent and become 13.5 million tonnes by 2024, says the report by Florida-based Market Research Engine.Asia Pacific is the leading market by revenue for the textile chemicals industry, accounting for over half of the gross worldwide revenue over the past couple of years, according to a new market survey report. Increasing government initiatives in countries like India to retain healthy growth in textile industry is one of the driving factors of this market.#
Fast growing textile industry markets like China, Vietnam, Bangladesh and Malaysia are triggering the demand for textile chemicals, says a press release from the company citing the report, which includes a detailed study of global and regional markets for various types of coatings with the reasons given for variations in the growth of the industry in certain regions.
The global textile chemicals market by product is segmented as surfactants, desizing agents, colorants & auxiliaries, coating & sizing chemicals, yarn lubricants and finishing agents. The geographical market segments are North America, Europe, Asia-Pacific and rest of the world.
Key players profiled in the report include BASF Corporation, Dow Chemicals, Bayer, Huntsman International, Clariant International, Sumitomo Chemicals, Kiri Dyes, Omnova Solutions, Kimera and Lubrizol Corporation. (DS)
Fibre2Fashion News Desk – India
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