Textile Auxiliaries Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Textile Auxiliaries Market grew at a CAGR of 4.0 % between 2017-2021 and is estimated to be US$ 6,782.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.4% and is expected to reach a valuation of US$ 10,432.3 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to rising demand for textile auxiliaries, which is being boosted by the expanding apparel and clothing sector, increasing use of textile auxiliary materials for various applications, and a shift in emphasis toward ecologically friendly products.
THE GROWING TREND FOR SPECIAL PROPERTY FABRICS IN TEXTILES WILL BOOST THE MARKET FOR TEXTILE AUXILIARIES
The hydrophobic property of spandex fabric refers to the capability of suppressing wetting by aqueous fluids and resisting wicking. Due to its hydrophobic, high temperature resistant, lightweight & durable, air permeability, good tensile strength, and zero toxicity, the demand for textiles tends to increase. The hydrophobic feature of special fabrics implies their waterproof property. It doesn’t just mean that it is purely water repellent; it helps maintain quality fabrics even if water gets inside.
RISE IN RAW MATERIAL COSTS HAMPER THE MARKET GROWTH
Ethylene glycol and dimethyl terephthalate are combined in a high-heat process to create polyester fiber. This process yields a monomer, which forms a polymer when combined with dimethyl terephthalate. The manufacture of polyester is generally more expensive than the production of other raw materials due to the sharp rise in the price of crude oil, which restrains the market’s expansion. The output of synthetic raw materials is also declining due to environmental regulations, while demand for natural fibers, replacing them, is rising. This factor is also likely to restrain market expansion, and the effects of this trend can be seen in hypothetical market scenarios.
THE RISE IN TECHNICAL TEXTILE PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
The technical textiles industry has immense potential in developing countries. Asia is now emerging as a powerhouse of production and end-use consumption of technical textiles. In technical materials, available high-tech finishes are utilized to make them functionally superior and relevant to the end-use application, such as anti-bacterial, anti-static, UV protective, thermal, or biodegradable functions, which play an increasingly important role.
Due to the concern that the COVID-19 epidemic caused, local and international demand for textile items slowly decreased until they abruptly stopped. Numerous textile-related factories were closed as a result of the lockdown. A cash constraint, supply chain disruptions, and challenges with human resources also impacted the textile market. Over 40 million garment workers in their supply chains worldwide were in danger of going hungry as factories closed and orders dried up due to the Covid-19 pandemic. The fashion industry was under pressure to intervene and preserve their pay. Due to the COVID-19 pandemic, the textile sector in many emerging nations suffered significant losses, which decreased the demand for fabrics and hindered market expansion until the second half of the century. The market value might not catch up to the pre-COVID-19 value until 2027.
Market Segments Covered in Report
By Product Type:
By End Use:
By Region and Country:
Why are Synthetic fibers projected to ensure the most revenue during the forecast period?
At 40.0 % of the market, Synthetic fibers had the greatest revenue share. Synthetic fibers are made from chemicals superior to natural fibers, such as cotton or silk. The most common types of synthetic fiber include polyester, acrylic, nylon, and rayon. Synthetic textiles can be more durable than natural fibers like cotton. Compared with raw materials such as cotton or paper, synthetic materials are more likely to be breathable and comfortable while providing other benefits such as better dyes, longer durability, and lower cost per gram.
Why is the textile industry segment expected to expand the fastest during the forecast period?
In 2021, The global textile industry was expected to witness an accelerating growth trend during the forecast period, resulting in a steady rise in revenues. Increasing demand for textiles and growing investments in the fashion and clothing sector are driving the market’s growth. Moreover, the rising usage of materials for fashion and clothing applications is estimated to drive market growth in the forecast period.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Key players in the market have been aggressively investing in research and innovations to develop products for high-growth applications such as apparel and home furnishings. Further, they are also focusing on geographic expansions to bolster their stronghold in the market. Leading players are also acquiring other competitors to increase their consumer base.
Some of the key developments that have taken place in the Textile Auxiliaries Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, End Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.4%.
In the upcoming years, the growth of the auxiliary textile market is anticipated to be driven by growth in the automotive sector, particularly in emerging economies. To increase fuel efficiency, automotive manufacturers focus on using lightweight materials, such as technical textiles, on reducing vehicles’ overall weight.
Major global Textile Auxiliaries Market players are Huntsman Corporation, Solvay, Zschimmer and Schwarz GmbH & Co KG, Rudolph GmbH, The Dow Chemical Company, Akzo Nobel N.V., Evonik Industries AG, Archroma Limited, ChemDyes Sdn Bhd, Oleon, Fibro Chem LLC, Covestro AG, Tata Chemicals, DyStar Singapore Pte Ltd., Camex Ltd., Fineotex Group, Croda International Plc, OMNOVA Solutions Inc., Kemin Industries, Others.
Polyester production tends to be expensive compared to other raw materials due to the sharp rise in crude oil prices, which restrains the market’s expansion.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Textile Auxiliaries market.
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