ASIA TEXTILE CHEMICALS MARKET ANALYSIS

Asia Textile Chemicals MarketSize and Trends

The Asia textile chemical market is estimated to account for US$ 10,811.0 Mn in terms of value by the end of 2019

Statistics:

China dominated the global textile chemical market in 2019, accounting for 60% share in terms of value, followed by Rest of Asia and India, respectively

Statistics:

China textile chemical market was valued at US$ 6,489.0 Mn market in 2019 and is forecast to reach a value of US$ 13,654.2 Mn by 2027 at a CAGR of 8.6% between 2019 and 2027. 

Market Trends/Key Takeaways

Increasing focus on developing innovative product and increasing expenditure by the government on promoting R& D activities is projected to offer immense growth to the market over the forecast period. Growing demand for anti-microbial, stain-resistance and luxurious fabrics is projected to offer room for the growth of the market of textile chemicals. Moreover, emerging advanced technology such as sterilized textiles is also projected to propel the market growth over the forecast period.

Increasing demand for branded and high-quality fabric coupled with the growing sense of fashion in another major factor that has been observed in the market. Moreover, the increasing launch of smart technology for coloring the fabric is further expected to fuel the market growth over the forecast timeframe. For instance, in April 2019, Alchemie is pleased to announce the launch of a breakthrough new technology in textile dyeing — The Alchemie Endeavour waterless smart dyeing process, at Interdye on April 10 in Shanghai, delivering a step-change in sustainability at a radically lower cost.