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Textile Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast by 2023
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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 textile chemical products range from coatings and sizing chemicals, colorants and auxiliaries, finishing agents and surfactants. The coatings and sizing chemicals dominated the market in the product type segment owing to their excellent properties to increase the strength and abrasion resistance of yarns.
The textile chemicals market on the basis of application is segmented as apparels, automotive textiles, geo-textiles, home furnishing, industrial textiles, smart textiles and others. The home furnishing application dominated the segment, the growth of the home furnishing segment will be attributed to the remarkable growth of the construction industry in the developing economies.
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.
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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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