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Industry Overview

Textile chemicals are the specialty chemicals used by textile processing industry for dyeing and processing of textiles in order to get the final end product with required characteristics. The market for textile chemicals in India is highly fragmented and comprises of over 300 large and small players. The presence of several players can be attributed to the heavy concessions provided by Government of India to small manufacturers, in terms of excise, setting up of business operations, etc. However, it is expected that by 2018, the share of minor textile chemicals manufacturers will decrease as a result of increasing preference for quality products as well as growing market penetration of technical textiles. According to "India Textile Chemicals Market Forecast & Opportunities, 2018", the textile chemicals market in India is expected to grow at the CAGR of approximately 12%, in terms of industry revenues. The government of India is also taking initiatives to encourage new players to enter the market of technical textiles by introducing "Technological Mission", which aims to support new industry players by offering them knowledge about technical textiles. In addition, major factor supporting the growth of textile chemicals in Indian market is the rapidly growing textile and apparel industry.

The dragon nation of China has been the largest consumer and producer of textile chemicals across the globe. China accounts for a huge domestic consumption and also exports a large amount to countries like Japan, Europe, and America. The increase in disposable incomes of the population has led to a boost in the domestic consumption of apparels especially in menswear and casual wear, carpets, and home furnishings.

Similarly, India has developed into a massive market for textile chemicals owing to the domestic production and export of cotton and synthetic fibres. Since production of textile products and garments have a direct relationship with the amount of textile chemicals to be consumed, it is estimated that India and China will up their use of textile chemicals for the period 2013-2017 from 50 percent to 53 percent of the world consumptions. On the other hand Middle East, Africa, Europe, America, and East Asia will be losing their share from 50 percent to 47 percent during the same period.

With majority production of textiles and garments concentrating in Asia, many American, European, and Japanese textile chemical companies are merging their operation in the domestic markets and looking forward to expanding in countries like India and China. Asia accounts to 30 to 40 percent of Europe's textile chemical export.

With textiles being used in various fields like medicine, construction, architecture, and even for agricultural purposes the need to develop multi-functional textile products to achieve such results are increasing the potential textile chemicals hold. Clothing in todays time has become way more than just covering ones body they need to be functional and smart. With the help from innovative textile chemicals there are finishes like anti-microbial, wrinkle-resistant, and stain resistant available in clothing and home textiles.

Along with functionality consumers expect comfort and soft finishes provide extra performance and coziness. The technique of microencapsulation used by textile chemical manufacturers brings odorless, moisturizing, and deodorant releasing properties being used for making sportswear and luxury garments. These effects containing active ingredients last up to multiple washes and can be treated from time to time to retain the properties.

The textile chemical industry and market are going to witness progressive times ahead as the global consumption is expected to rise at an annual average rate of 1 percent to 3 percent. However, in countries in Western Europe, Korea, Taiwan, Middle East, and Africa there is believed to be a fall in consumption by 1 to 6 percent from 2012 to 2017. Countries with the highest growth rate of 3 to 6 percent are India, Turkey, and China.

Asia Pacific accounted for over 55% of total volume in 2014 and is expected to gain more share over the forecast period. Growing textile production in China, India, Vietnam, Malaysia, Indonesia, and Bangladesh coupled with the government of China and India's inclination towards promoting this industry is expected to benefit the regional market. In addition, application growth in the industrial and automotive sector in India, Japan, and China is expected to have a positive impact.
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