Research and Markets announced the addition of the “India Textile Chemicals Market Forecast and Opportunities 2019” report.
Textile chemicals are speciality chemicals used for sizing, pre-treatment, dyeing, finishing, optical brightening and printing applications during textile manufacturing. These chemicals are used to impart desired characteristics to textiles in terms of quality, colour and durability. Being one of the leading textile markets across the globe, India has been witnessing significant demand for textile chemicals over the last few years. However, the country is still not at par with other major textile chemical producing nations like China due to a number of factors such as high market fragmentation.
As of 2013, more than 300 large and small players were engaged in manufacturing textile chemicals in India. Small scale players are mainly thriving on government support in the form of hefty concessions in excise duties and other financial incentives in setting up business operations. However, by 2019, the share of small textile chemicals manufacturers in the market is expected to decrease due to increasing consumer preference for high-performance products offered by organized global leading players like BASF, Huntsman, Clariant, Croda, Jaysynth Group, and Rossari. According to India Textile Chemicals Market Forecast & Opportunities, 2019, the textile chemicals market in India is expected to grow at a CAGR of about 9 percent. The rising demand for innovative textile products like technical textiles is one of the major factors driving growth in textile chemicals market in India. The textile chemicals market in India has been segmented into colorants and auxiliaries. Of these, the market share of colorants in value terms is more than that of auxiliaries as the average selling price of colorants is much higher than that of auxiliaries.
However, the volume consumption of colorants is much less than that of auxiliaries as they are used at almost all the stages of textile processing. Major players such as Clariant, BASF and Huntsman are emphasizing towards product innovation in textile chemicals by offering eco-friendly products with additional functional properties. Textile manufacturing companies are also inclining towards bio-auxiliaries and other eco-friendly chemicals to decrease the overall pollution load in textile processing plants.