The Textile Chemicals Market is expected to reach USD 33.1 billion by 2026, at a CAGR of 4.6%. The driving factor for the Textile Chemicals market is chemicals is growing demand for technical textiles. Also growing adoption of low VOC and biodegradable materials for textile manufacturing is expected to provide lucrative opportunities for the growth of textile chemicals.
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Dow, Inc. (US), BASF SE (Germany), Wacker Chemie AG(Germany), Huntsman Corporation(US), Solvay (Belgium) among others, are the leading textile chemicals manufacturers, globally. These companies adopted new product launches, and agreements & contracts as their key growth strategies between 2019 and 2021 to earn a competitive advantage in the textile chemicals market.
Dow, Inc. is one of the largest players in the textile chemicals market. Dow, Inc. is a materials science company that combines science and technology to develop innovative solutions for various end-use markets. The Company conducts its worldwide operations through six global businesses which are organized into the following operating segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure and Performance Materials & Coatings. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries. The company has its presence across North America, South America, Europe, Middle East & Africa, and Asia Pacific.
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BASF SE is the second-largest player in the textile chemicals market, globally. BASF SE is one of the leading chemical companies which has its operation spread across all regions of the world. It operates in six major business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solution. The company provides fabric finishing chemicals through the Intermediates division, which falls under the Chemicals business segment.
The Textile chemicals market is projected to witness rapid growth in the Coating & Sizing Agents segment during the forecast period. This category is anticipated to be the fastest-growing by product type, driven by factors such as increased demand for advanced coatings and sizing solutions in the textile industry. This growth highlights the rising significance of Coating & Sizing Agents in enhancing textile properties and performance.
The Asia-Pacific (APAC) region is anticipated to dominate the global textile chemicals market in terms of market share. This can be attributed to various factors such as the thriving textile industry in the region, robust manufacturing capabilities, and a significant presence of textile manufacturing hubs. APAC’s leading position underscores its pivotal role in shaping the growth and dynamics of the global textile chemicals market.
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