The global textile chemicals market size is projected to reach USD 26.40 billion by the end of 2027. The increasing applications of the product across diverse industry verticals will emerge in favor of the growth of the market. According to a report published by Fortune Business Insights, titled “Textile Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (Coating & Sizing Chemicals, Colorant & Auxiliaries, Finishing Agents, Surfactants, De-sizing Agents and Others), By Application (Apparel, Home Furnishing and Technical Textiles) and Regional Forecast, 2020-2027,” the market was worth USD 20.85 billion in 2019 and will exhibit a CAGR of 3.2% during the forecast period, 2020-2027.

Source:

https://www.fortunebusinessinsights.com/textile-chemicals-market-103284 

Covid-19 Impact

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Textile chemicals are products that are used in the treatment of textile material at various stages in the manufacturing process. The product plays an important role in obtaining favorable textile properties. The rising applications of textile chemicals across diverse industry verticals will emerge in favor of the growth of the overall market in the forthcoming years.

Cost-reduction Needs have put Innovations to the Fore

The report encompasses several factors that have contributed to the growth of the overall textile chemicals market in recent years. Among all factors, the increasing number of product innovations driven by rising need for low-cost products will have a huge impact on the growth of the market. Several companies are focusing on manufacturing methods with the view to minimizing the total product cost. In October 2019, Huntsman Corporation, a leading textile chemical manufacturer, announced that it has launched a new dyeing auxiliary that will save the total cost of polyester dyeing.