Textile Auxiliaries Market: Key Facts and Forecast Predictions Presented by 2026
Posted by Arslan on March 15th, 2019
The global market for textile auxiliaries is estimated to be valued at nearly US$ 7,770 Mn in the year 2017. By 2026, the market is expected to be valued at nearly US$ 12,400 Mn, registering a CAGR of 5.2% in terms of value over the forecast period. The global textile auxiliaries market is expected to witness an absolute dollar opportunity of nearly US$ 4,400 Mn between 2016 and 2026.
Technical textiles impart strength as well as resistance and protection from various pollutants and environmental factors. Growing infrastructural development as well as rapid urbanisation, especially in BRIC countries is driving demand for Buildtex – a technical textile that is more durable and effective as compared to conventional textile materials. It is majorly used in construction and architectural applications such as faced foundation, insulation (majorly in Russia) and concrete reinforcement. The growing use of technical textiles is set to boost the market for textile auxiliaries during the assessment period.
Meditech textiles consists of textiles that are used in hygiene, health as well as in surgical applications. The global textile auxiliaries market is expected to witness increasing contribution in value as well as volume share by the Meditech segment over the forecast period. This is primarily due to rising government and per capita spending on healthcare worldwide. Growing awareness about health and hygiene in emerging economies is fuelling demand for healthcare products such as baby diapers and sanitary napkins that use technical textiles.
The major textile auxiliaries companies have set up their research and development facilities in regions including Asia Pacific, North America, and Western Europe. The emphasis is on developing chemicals that are eco-friendly, energy efficient and at the same time are cost effective. Moreover, efforts are focussed on developing multi-functional chemicals. This is set to increase the market for textile auxiliaries during the forecast period.
Natural textile auxiliaries are relatively expensive as compared to synthetic substitutes. This is due to high costs associated with raw materials and operational costs and limited availability of natural textile auxiliaries. For instance, processes used in the extraction and manufacturing of natural textile auxiliaries are more capital intensive as compared to those used in synthetic textiles. Moreover, natural textile auxiliaries manufacturing needs technically trained workers to oversee the processes. These factors may hamper the growth of textile auxiliaries during the forecast period.
