The global textile chemical market is anticipated to increase at a CAGR of four per cent from 2016 to 2024. The fast growing markets are: China, Vietnam, Bangladesh and Malaysia who are triggering demand. Asia Pacific is the leading market for textile chemicals by revenue which accounted over half of the gross revenue in the world over the past couple of years.
Textile chemicals are specialty chemicals in demand due to an increase in the variety of fabrics manufactured. These chemicals give fabrics better quality, flexibility and durability. They are a crucial part of the textile industry and play a vital role in manufacturing different type of fabrics like water resistant fabrics.
The global textile chemical market is segmented as surfactants, desizing agents, colorants and auxiliaries, coating and sizing chemicals, yarn lubricants and finishing agents. According to its applications the market is further segmented into home furnishing, apparels, industrial and others.
However, the major restraining factor for textile chemicals market is its harmful effects on the environment. The textile manufacturing process includes consumption of large volumes of water and specialty chemicals for dyeing, washing, bleaching, desizing and other processes. These chemicals contain surfactants and other toxic material which can cause potential harm to the environment.