The worldwide textile chemicals market was predicted at around USD 20 billion in 2013. It is estimated to attain about USD 25 billion by 2020. This expansion is anticipated to happen at around 4 percent CAGR through the forecast period. The said phase continues from 2014 to 2020. Textile chemicals are normally defined as composites, chemicals and intermediaries used in the processing and production of textiles.
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The textile chemicals market is fragmented on the basis of three categories. These include applications, products and regions. The applications sector consists of apparel, home furnishing and industrial and others. Home furnishing was the biggest application of the market in 2013. Apparel is predicted to be the most rapidly expanding application in the years lying ahead.
The various products of this market include surfactants, finishing agents, coating and sizing chemicals, bleaching agents, yarn lubricants, desizing agents and colorants and auxiliaries. Coating and sizing chemicals were the biggest product of the worldwide textile chemicals market. Finishing agents are projected to be the most swiftly expanding product in the future.
The textile chemicals market is fragmented furthermore into four regions, namely North America, Europe, Asia Pacific and rest of the world. Asia Pacific leaded the worldwide market in 2013. It made up in excess of 50 percent of the total market size that year. This region is also anticipated to be the most speedily expanding region of the world. Growing demand for textile chemicals in China and India is predicted to propel demand for the Asian Pacific textile chemicals market.
Information Source: Grand View Research