Market Challenges And Opportunities

Market Restraints

Growing demand for sustainably-produced chemicals

The growing demand for sustainably-produced chemicals due to rising awareness regarding the adverse effect of synthetic chemicals is acting as one of the major challenges for the market. This factor is hindering the market growth of the Textile Chemicals for technical textile over the forecast period.

Increasing incidence of health issues

Owing to the high exposure of workers to textile, there is an increasing incidence of health issues such as pulmonary edema and other respiratory problems. Also, the high manufacturing cost of the technical textiles is expected to hinder the market growth of the Textile Chemicals for technical textile over the forecast period.

Market Opportunities

Growing importance of geotextile across Europe

The growing importance of geotextile across Europe is expected to provide potential market growth opportunities in the near future. Geotextiles are used in the construction industry especially across the erosion control, drainage systems, and road construction applications. They are mainly used owing to their separation property which helps prevent the mixture of different substances under different stresses. It helps in retaining soil particles and the passage of water in the pavement, road, and field constriction.

Continuous product innovations in technical textiles

Continuous product innovations in technical textiles are projected to serve as major growth opportunities in the near future. For instance, in April 2020, Alchemie Technology launched Novara, a high-throughput digital precision coating technology for technical textiles. This coating is created with the aim to combat COVID-19 by applying Novara technology to manufacture safety-critical products including anti-viral facemasks.