DYESTUFF FOR COTTON MARKET ANALYSIS

Market Challenges And Opportunities

The growing textile industry in Asia Pacific, in turn is expected to boost growth of the dyestuff for cotton market during 2017-2025. China and India are the major manufacturers and exporters of textiles across the world. The Indian textile industry comprises small scale, weaving, finishing, non-integrated spinning and apparel enterprises. Favorable government policies such as tax policy, regulations and labor intensive enterprises coupled with employment opportunity to the ever growing populations is propelling growth of the textile industry. This is expected to boost the market for dyestuff for cotton, as this industry uses large volumes of dyestuff for providing texture to the finished product. For instance, according to India Brand Equity Foundation (IBEF)—a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian textiles industry, in 2016, at around US$ 108 billion, and is projected to reach US$ 223 billion by 2021. The growing textile trade activities between Asia Pacific and North America is expected to propel the growth of the non-woven end use industry. However, stringent government regulations in North America in terms of export and import of non-woven textiles is expected to hinder growth of the market for dyestuff for cotton during the forecast period. For instance, in April 7, 2008, The Consumer Product Safety Commission (CPSC) published on March 25, 2008 a final rule amending the 1953 flammability standard for clothing textiles (16 CFR 1610). According to the CPSC, the rule clarifies and modifies definitions and procedures to generally match those already in practice, and therefore should not increase costs of compliance for manufacturers and importers.