Growth and Forecast for Global Textile Chemicals Market
According to the latest analysis of Emergen Research, the global textile chemicals market will reach USD 21.23 billion in 2020, with a compound annual growth rate of revenue of 4.3% during the forecast period. The growing demand for global textiles is one of the key factors that continue to drive the growth of the global textile chemicals market. In addition, the global urbanization and industrialization growth trend is expected to continue to support the revenue growth of the textile chemicals market for at least the next five years.
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.
In the report, technical textile segment revenue is expected to boost at a significantly rapid CAGR during the forecast period due to the increasing usage of textile chemicals in technical textiles. Usage is expected to rise due to rising awareness about better function and uses of such products in various industries.
The revenue growth rate in the Asia-Pacific region is expected to accelerate significantly during the forecast period. Countries in the Asia-Pacific region have low manufacturing costs and many companies are actively introducing cutting-edge technologies, which are expected to drive revenue growth in the region’s market in the next few years.