16/02/2023 – Huntsman Corporation, Solvay, Tata Chemicals, DyStar Singapore, Dow Chemical, Evonik
Textile Auxiliaries Market Report
By 2032, the global textile auxiliaries market is expected to reach a value of US$ 16,589.3 Mn, with a moderate compound annual growth rate of 5.2%.
According to a report by Future Market Insights, the growth of the textile chemicals market is expected to support the expansion of the textile auxiliaries market during the forecast period. Textile chemicals are specialty chemicals that are utilized in various steps in the manufacturing of textiles and fabrics. These chemicals help improve the strength, adaptability, and original characteristics of the fabric. The increasing demand and growth of the textile chemicals industry is a key driver of the global textile auxiliaries market. Additionally, the adoption of technical textiles in various industries, such as infrastructural development, urbanization, and environmental protection initiatives, is expected to promote market growth.
The automotive sector is also expected to contribute to the expansion of the textile auxiliaries market. The rising environmental awareness and the use of technical textiles in erosion protection, waste treatment/recycling, and domestic water sewerage plants are other factors expected to drive market growth during the forecast period. However, stringent environmental regulations may hinder market growth.
The report highlights that the pre-treatment agents sub-segment is predicted to account for 38.1% of the global sales of textile auxiliaries market in 2022, and the dyestuff segment is projected to register a 5.3% CAGR during the forecast period. Asia Pacific is offering multiple lucrative opportunities for the textile auxiliaries market, and major players in the market are investing more in developing eco-friendly, energy-efficient, and affordable chemicals.
Key players in the textile auxiliaries market
The report profiles major players in the textile auxiliaries market, including Huntsman Corporation, Solvay, Tata Chemicals, DyStar Singapore Pte Ltd., The Dow Chemical Company, Akzo Nobel N.V., and others. These players are focused on investing in research and development activities to introduce innovative products, expanding their capacity, and entering new markets in emerging economies. They also employ acquisition of other firms to strengthen their position in the international market.