Report Description Report Description and Highlights

Global Textile Chemicals Market Trends :

The rising sales of clothing with numerous textures and designs due to the expanding global population, evolving fashion trends, and inflating consumer purchasing power represents the primary factor driving the market growth. Besides this, the growing demand for apparel, home furnishings, and other textile products owing to improving lifestyles, rapid urbanization, and increasing social media influence has accelerated product adoption rates. In addition, there is a surge in the use of textile chemicals for manufacturing automotive fabrics, such as headliners, seat belts, and seat fabric. Along with this, the escalating demand for technical textiles with enhanced mechanical resistance, anti-dust properties, elasticity, and ultraviolet (UV) and thermal resistance in non-aesthetic applications has catalyzed the market growth. Furthermore, the leading manufacturers are introducing green or bio-based textile chemicals obtained from renewable or readily available resources. These chemicals are biodegradable and nonflammable, with low toxicity and a low tendency to undergo bioaccumulation in the environment, unlike their traditional counterparts. This, coupled with the rising adoption of artificial intelligence (AI) and the Internet of Things (IoT) in production processes, has propelled market growth. Other factors, including the launch of smart textiles, significant expansion in the apparel sector, increasing consumer preferences for foreign textile brands, and ongoing research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 32.3 Billion by 2028, growing at a CAGR of 4.5% during 2023-2028. Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).