Shambhu Nath Jha
Senior Research Consultant Fact.MR
North America & Europe witnessing highest growth in non-toxic colourant and dyes
Leading research and consulting firm Fact.MR recently launched a report on Textile Chemicals Market. Senior research consultant Shambhu Nath Jha shares insights from the report.
What is the present volume/value of textile chemicals trade? At what rate is it expected to increase over the next few years?
The global textile chemicals market registered a value of ~$25,590 million in 2020, and in terms of volume, the market is estimated at ~11,330 kilo tons in the same year. The market is expected to grow at a CAGR of 3.9 per cent during the forecast period of 2021-2027 in terms of value.
Which region(s) are the largest consumers of textile chemicals? What is their consumption? At what rate is their consumption expected to increase over the next few years?
Asia-Pacific and Europe are the largest consumers of textile chemicals holding over 80 per cent share of the overall market. The consumption in APAC is expected to grow at a CAGR of 3.8 per cent while that of Europe is 2.8 per cent during the forecast period.
In terms of product type, which segment dominates the textile chemicals market? At what rate is this segment expected to increase over the next few years? Why?
In terms of product type, coatings & sizing chemicals is the largest segment, consuming ~7,660 kilo tons in 2020. The segment is expected to grow at a CAGR of 4.1 per cent over the forecast period. Consumers nowadays focus more on the material that they wear and usually go for comfortable clothing. Sizing chemicals are used to increase the smoothness and reduce the hairiness of the warp yarn. Size coating protects yarns from abrasion and reduce warp breakage rate in the loom. For this reason, the use of such chemicals is increasing and expected to continue during the upcoming years.
What is the growth pattern of non-toxic, environment-friendly colourants and dyes? What per cent of all textile chemicals are non-toxic, environment-friendly? Which region(s) are witnessing growing demand for non-toxic, environment-friendly chemicals? At what rate is the demand growing at present? At what rate is it expected to grow by 2025?
Non-toxic, environment friendly colourant and dyes are anticipated to grow at a steady pace with a CAGR of more than 5 per cent till 2025. Since most of the textile chemicals have Volatile Organic Compounds (VOCs) in their content and the concept of green chemicals has just taken off in the last decade, the percentage of non-toxic, environment-friendly colourant and dyes varies between 10-15 per cent only. North America and Europe are witnessing the highest growth in demand due to strict governmental regulations.
What various predictions does the report make on 'bio-chemicals'?
Following prediction can be made for bio-chemicals from our Textile Chemicals Market Report:?
a)The market penetration of bio-chemicals in conventional chemical market will increase in the days to come;?
b)Manufacturers are expected to increase their R&D spending on the development of green chemicals; and
c)Consumers are expected to be more aware of the products they are using and the environmental impact they have on disposal. So they will be more conscious about the percentage of bio-chemical in the products that they are using. (RKS)
Published on: 22/12/2020
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