Expanding Textile Industry is Boosting the Indian Textile Chemicals Market

Indian textile chemicals market is estimated to grow at a substantial CAGR of 5.1% during the forecast period (2024-2031). The market growth is driven by the rising middle class, increasing urbanization, and the rising number of nuclear families, which have resulted in Westernized tastes and higher consumption and spending. In addition, technical textiles, and fast fashion trends are driving the market growth. Moreover, industrial manufacturing in the country has emerged as one of the high-growth sectors. The 'Make in India' initiative is further boosting manufacturing in the country, driving market growth.

Indian textile chemicals market is segmented by type (colorants & auxiliaries, coating & sizing chemicals, surfactants, de-sizing agents, finishing agents, and others) and by application (apparel, automotive textile, home furnishing, industrial textile, and others), by raw material (synthetic, cotton, wool & cashmere, silk, rayon/viscose, other).

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Market Dynamics

According to Invest India, the domestic apparel & textile industry contributes approx. 2.3 % of the country's GDP, and 7% of industry output in value terms. The industry contributes 13% to industrial production and 12% to exports. India has a 4.6% share of the global trade in textiles and apparel, with a 10.5% share in India's overall export basket.

India is one of the largest producers of cotton and jute in the world, and the second largest producer of silk and PPE. India has more than 600 companies certified to produce PPE. The global market for PPE is expected to be over $92.5 billion, in 2025. The production of Eri and Muga silks, increased by 6% and 6.7% respectively during 2021-22.

The country manufactures 95% of the world's hand-woven fabric. The textile exports are valued at $36 billion and are anticipated to reach $100 billion by 2030.

India aims to achieve $250 billion in textiles production and $100 billion in exports in 2030. The country is the 5th largest producer of technical textiles across the globe. The market size of technical textiles in the region is valued at $22 billion and is expected to reach $300 billion in 2047. India's exports of technical textile products grew from $2.21 billion in 2020-21 to $2.85 billion in 2021-22, up by 28.4% YoY.

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Cotton is a major textile in the region and supports 6 million cotton farmers and 40-50 million people engaged in related activity including cotton processing & trade. India is the largest cotton producer (23%) in the world and has the highest area under cotton cultivation (39% of the world area). India registered the highest textile exports in FY 2021-22, crossing $44 billion. Thus, the high growth of the textile industry contributes significantly to the Indian textile chemicals market.

The growth of the textile industry was further supported by the QCO (Quality Control Order) relaxation introduced for the polyester fiber, filament yarn, and spun yarn imported under the advance authorization scheme, export-oriented units, and special economic zone industries, in June 2024. The government relaxed the QCO norms for the import of viscose fiber under the advance authorization scheme (through an order issued on March 11, 2024) and extended the relaxation for polyester staple fiber, filament, and spun yarn through a notification dated June 6, 2024.

The major players in the Indian textile chemicals market include Archroma, Rossari Biotech Ltd., Sarex Chemical Ltd., Tata Chemicals Ltd., Fineotex Chemical Ltd., JAY Chemical Industries Pvt. Ltd., and K-TECH India Pvt. Ltd., among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

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