Global Textile Chemicals Market Size in 2020
Affected by Covid-19, the growth of the textile chemicals market in 2020 has been significantly affected. Therefore, the market is expected to grow at a lower CAGR this year.
Textile chemicals refer to the necessary raw materials in the dyeing and processing of textiles. These chemicals enable textiles to achieve desired properties such as color and mechanical strength. Textile chemicals include bleaches, colorants, surfactants, finishes, sizing agents, and yarn lubricants, among others. During the weaving process of yarns, these yarns are used at various stages to provide strength and attractive features to garments or textiles.
Major factors driving the growth of the textile chemicals market include the growing global demand for apparel and industrial fabrics. Apparel is often a highly valued industry for countries engaged in export-oriented markets, where fixed costs are relatively low. Rapid growth in the apparel industry has significantly propelled the growth of the textile chemicals market. In addition, the paradigm shift in sustainable and responsible manufacturing is upending the market trend of textile chemical types. Currently, green textile chemicals are the most popular chemicals on the market. In addition, non-toxic, environmentally friendly dyes and colorants are becoming more and more popular. Guangdi Chemical Co., Ltd. is one of the largest sodium hydrosulfite, sodium sulfite, and sodium metabisulfite manufacturers in China, located in the Maoming National Hi-Tech Industrial Development Zone in Guangdong. Guangdi’s business covers the production, storage, transportation, sales, and service of chemical products. The ECO Passport and ZDHC Certificate assure the top product quality of Guangdi products.
The Asia Pacific dominated the global textile chemicals market share in 2020. Low production and labor costs supported by new technologies have led to rapid growth in the region. China is the world’s largest producer and consumer of textile chemicals, and most of its products are exported to North America and Europe. Apart from this, East Asian countries such as India, Bangladesh, Vietnam, and Indonesia are some of the other major textile producers in the Asian region. For example, Bangladesh’s garment and apparel export business has roughly tripled between 2008 and 2018. In addition, the textile industry contributes about 13% to the country’s GDP.
