TMR_Research_Reports_2017 Global Textile Chemicals Industry Analysis By 2024 | Page 2

Textile Chemicals Market
REPORT DESCRIPTION
Textile Chemicals Market - Global Industry Analysis Size Share
Growth Trends and Forecast 2016 – 2024
The rising need for better and smarter textiles in various industrial applications is supporting the expansion of
armamentarium of advanced and enhanced textile. This is prompting players in the global textile chemicals
market to invest in research and development activities to cater to the changing consumer demands, observes
Transparency Market Research (TMR) in a new study. For instance, companies such as The Dow Chemical
Company are launching antimicrobial technology that restricts the growth of harmful bacteria on textiles.
Other prominent participants in the market are The DyStar Group, Kiri Industries Limited, Huntsman
International LLC, Solvay SA, Covestro AG, The Lubrizol Corporation, and Pulcra Chemicals GmbH. “These
players are focusing towards mergers and acquisitions to expand their market shares. This strategy is also
helping them in expanding their existing product portfolio and augmenting expertise,” says the author of the
report.
TMR analysts have pegged the opportunity in the global textile chemicals market at US$21.02 bn in 2015. The
market is expected to be worth US$29.15 bn by the end of 2024, progressing at a CAGR of 3.7% between 2016
and 2024.
Browse Market Research Report @ http://www.transparencymarketresearch.com/textile-chemicals-
market.html
Asia Pacific to Remain Leading Consumer of Textile Chemicals through 2024
On the basis of application, the home furnishings segment will be at the forefront of growth throughout the
forecast period, reaching a valuation of US$10.22 bn by 2024. The improving economic conditions along with
the increasing number of residential construction projects, especially in emerging nations, are supplementing the
growth of the segment. The growing sales of various home furnishing products, including towels, curtains, toilet
linen, carpets, and rugs are augmenting the demand for textile chemicals. The segment is anticipated to expand
at a CAGR of 3.1% during the same period.
Geographically, Asia Pacific will continue to be the most prominent segment in terms of volume until 2024,
owing to the snowballing demand for textile chemicals from the home furnishings and apparel sectors. The
region is poised to post a CAGR of 4.5% during the review period.
Transparency Market Research
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