Textile chemicals are used to enhance and improve manufacturing process and give the final product an exact needed appearance or offer a specific function like flameproof furniture fabrics, greenhouse material that reflects the sun and durable airbags for vehicles. The growth of global attire industry is expected to drive the demand for textile coatings over the forecast period. Global clothing industry was worth over $1.2 trillion in 2015 and is anticipated to witness significant growth over the estimated period. Around 75% of this market value is prominent in US, Japan, EU-27 and China. These areas account for less than 35% of the global population. This signifies higher expenditure on clothing and attire in these countries. Growing demand for textile across different end-use applications is also anticipated to be drive the market growth.
Rising environmental concerns towards the adverse effect of these chemicals may pose a challenge to the market growth. Water scarcity and contamination of water caused by the use of chemicals in fabric industry may have widespread local consequences in the manufacturing nations. Severe environmental regulation such as IPPC (Integrated Pollution Prevention and Control) along with ETS (Emission Trading System) and regulation on Registration, Authorization and Restriction, Evaluation is anticipated to hamper the growth of this industry. Sizing and coating dominated the product segment, accounting for over one-third of total market in 2015. Sizing chemicals are mainly used for improving abrasion strength and resistance of yarn during weaving. Auxiliaries and colorants segment is estimated to witness sluggish development over the next few years. The market for this product is expected to witness decline in sale on account of availability of substitute products such as pigments. Rising concerns over factors affecting finishing of yarn into the textile are anticipated to drive the demand for concluding agents over the following years. The demand for finishing agents is hence anticipated to rise over the period.
Home furnishing applications conquered the market in 2015 and accounted for over 40% of the total application segment. Growth in per capita spending on home furnishing in BRICS region is projected to boost the demand for textile coatings in fabric and other architectural applications. In addition, increasing infrastructural and urban development in Middle East region is also likely to fuel the growth of this industry. Industrial and other applications are anticipated to increase share over the following seven to eight years. Rising demand for high-quality textiles in various manufacturing facilities for assuring safety and provide protection from fluctuation of properties such as pressure and temperature is likely to drive demand of textile coatings in industrial applications.
Asia-Pacific held for over half of the total market share in 2015 and is expected to grow considerably over the estimate period. Increasing textile production in China, Vietnam, India, Indonesia, Malaysia and Bangladesh, along with the initiatives from governments of Asian countries for endorsing this industry is expected to benefit the regional market. In addition, growth in automotive and industrial sector in India, China and Japan is expected to have a positive impact on textile coatings market. Key companies which operate in this industry are focusing on developing effective work processes, restructuring their businesses and investing in niche products. Global textile chemicals market share is concentrated with the top five players accounting for over half of the overall demand. Key players include BASF, Huntsman International, Clariant International, Bayer Material Science and The Dow Chemical Company. Other business partners include Sumitomo Chemicals Co. Ltd., Omnova Solutions, Kiri Industries Limited, Kemira, Shaw Industries, Inc., Lubrizol Corporation and Archroma.
Market by Material
Market by End-use Industry
· Protective clothing
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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