The global textile chemicals market size is expected to reach US $ 38.66 billion by 2030 and register a revenue CAGR of 4.3 per cent during the forecast period.
Claiming this, a report by Reports and Data says that the increased demand for home decor products is expected to drive market revenue growth. At the same time, demand for fashionable clothing is being driven by constantly changing fashion trends and an increase in the working population. This, in turn, stimulates the growth of textile chemicals market.
Reports and Data is a market research and consulting company that provides syndicated research reports, customised research reports and consulting services.
The report highlights that in developing countries such as India, manufacturers have turned their attention to investing in product innovation, which is aided by the Government’s Make in India programme.
Overall the growing demand for natural fibres is expected to fuel demand for textile chemicals during processing.
Few of the major companies in the textile chemical segment are Huntsman Corporation, Archroma, Dow Inc., BASF SE, Wacker Chemie AG, Evonik Industries AG, Solvay S.A., TANATEX Chemicals India Ltd., DIC Corporation and OMNOVA Solutions Inc.
