The global textile
chemicals market is expected to showcase a stable growth during the forecast period
(2017-2023). The growing demand for apparels in emerging economies and the
increasing middle-class income are the driving force for the growth of the textiles
chemicals market.
With textiles being used in various fields such as medicine,
construction and architecture the need to develop multi-functional smart
textile products to achieve such results is increasing the potential of the
textile chemicals market globally.
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Textile Chemicals are an integral part of various commercial
and industrial sectors, where any sort of fabric is used in operation. The
textile chemicals are in huge demand owing to the enormous growing production
of apparels and rising demand for home furnishings, floor coverings and smart
textiles globally.
The key driver observed in the study includes growing demand
for apparels in emerging economies. The consumption and production of textiles
is growing at a long-term growth of nearly 3% every year. The pattern of
consumption of apparels and textiles is growing rapidly in developing economies
such as India, China, Taiwan and South Korea.
The major restraints observed in the study includes
increasing popularity for bio-based textiles, increasing labour cost in
emerging economies and rising environmental concerns for the use of textile
chemicals in developed countries. All of these factors are expected to hinder
the swift flow of the global textile chemicals market during the forecast
period.
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The major players in the global textile chemicals market are
adopting significant competitive strategies such as merger, acquisitions and
joint ventures to hold a competitive stance in the global market. Manufactures
in the industry are undergoing continuous R&D to come up with cutting-edge
advancement in the industry. Some of the key players in the global market
include OMNOVA Solutions Inc., The DyStar Group, The Dow Chemical Company and
Kiri Industries Limited.
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International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
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