Textile Colourant Market-Expected to Secure Notable Revenue Share during 2025
Posted by Trends Market Research on June 5th, 2019
Trends Market Research (TMR) delivers key insights on the Textile Colourant market in its latest report titled, “Textile Colourant Market by 2025”. According to the report, the global textile colourant market is projected to expand at a healthy CAGR of XX% during the forecast period in terms of revenue.
The global textile colourant market is projected to register a CAGR of XX% in terms of value and XX% in terms of volume during the forecast period 2018-2025. On the basis of regions, Asia-Pacific excluding Japan is estimated to be the largest market for textile colourant by 2025, accounting for XX% value share of the global textile colourant market in 2018. The region continues to dominate the market and is expected to continue to do so throughout the forecast period. Whereas, MEA is estimated to account for 3.1% value share in 2018, with growth rate of XX% over the forecast period. The markets in North America and Western Europe are anticipated to contribute majorly to the global textile colourant market, owing to high investments in textile colourant development and manufacturing across these regions.
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On the basis of application, the apparel segment is anticipated to account for US$ XX Mn by 2025, expanding at the substantially high CAGR of XX% over the forecast period with relatively high value share of XX%. Followed by household segment with value share of XX% in 2025 with CAGR of XX%.
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The textile industry in developing regions has witnessed rapid growth due to low labour costs and adequate infrastructure. This has increased demand for textile chemicals in the region. For Instance, in 2014, Asia Pacific accounted for approximately 53% of the global textile chemicals market. Moreover, the growth of textile colourants market in Asian countries such as Bangladesh, Vietnam, Indonesia and Cambodia is expected to register relatively high growth rate. The textile chemicals industry is fragmented, comprising several large and small players. The major players have well developed supply chain network in the region leading to strong supply and availability of textile chemicals at reasonable prices for end-users in the market. The major textile colourants 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 focused on developing multi-functional chemicals. Textile chemicals are a class of specialty chemicals that are used in various processes involved in the textile and fabric processing. For instance, in 2018, textile chemicals account for around 2% of the US$ 785.0 Bn global specialty chemicals market. The global textile chemicals market was estimated around US$ XX Bn.
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