Views: 0 Author: Site Editor Publish Time: 2022-11-30 Origin: Site
Increasing consumer disposable income and growing demand for home furnishings are expected to drive the textile auxiliary market in the coming years. The market is expected to grow at a 4.7% CAGR between 2014 and 2021. However, the presence of substitutes is expected to hamper the global market growth. The textile auxiliary industry is a competitive one with few large-scale vendors holding a majority of market share. Some of the leading players in the industry are Archroma, Huntsman International LLC, Evonik Industries AG, Camex Ltd, and Fibro Chem LLC. These companies are investing in R&D and innovation and expanding their geographic footprints.
Textile auxiliary products have various uses in the textile industries. Some of the common products include: finishing agents, pre-treatment agents, printing agents, coating agents, lubricating agents, and dyeing agents. Various industries that utilize these products include automotive, apparel, household furnishings, printing, and packaging. However, the apparel industry remains the largest segment of the textile auxiliaries market. The automotive industry is expected to increase its consumption of textile auxiliaries as it is increasingly using lightweight materials that increase fuel efficiency and reduce the vehicle weight.
The textile industry is expected to expand in emerging markets such as China and India. Rapid economic development and a growing population are expected to drive the growth of the textile auxiliaries market in these countries. The increasing popularity of technical textiles in emerging markets will be the key driving force of the market in the coming years. These textiles are more durable and provide protection against environmental factors. They are also required for automobile components such as seat belts and airbags.
A growing demand for apparel and home furnishings is also expected to drive the textile auxiliary market in this region. However, the region faces challenges including the production of waste materials. Waste material is produced in different stages of the manufacturing process, and represents a serious threat to the environment. In order to combat this problem, various governments have imposed strict environmental regulations. Moreover, the presence of man-made fibers in various textile products is not environmentally friendly. These fibres contain toxic substances that are not easily biodegradable. Consequently, the demand for eco-friendly textile chemicals is expected to drive the industry.
As a result of rapid economic growth and increased population, the demand for apparel is increasing in the region. Advancements in fashion apparel production have helped the region to boost its revenue sources. However, the increasing production of textile items is expected to drive the demand for textile auxiliaries in the United Kingdom. The region's growing textile industries will also contribute to the market. In addition to that, the demand for textile auxiliaries will also rise in emerging markets such as India, China, and Japan. These countries are expected to be the leading consumers of these products.
The market is also expected to witness an increase in the demand for textile auxiliaries in emerging applications such as automotive, apparel, household furnishings, printing, packaging, and others. In addition to that, the demand for technical textiles is expected to increase in emerging markets due to rapid urbanization.
