TechSci, a research-based global management consulting firm, has released its latest report titled, ‘India Textile Chemicals Market By Product Type, By Application, Competition Forecast & Opportunities – 2011-2021’, which states that textile chemicals market in the country will be of more than US $ 2.5 billion by the year 2021.
The Government of India’s support to textile industry, high quality textile products, growing export as well as domestic demand are the main reasons for this expected growth. The report also mentions that the Indian apparel industry will continue its dominance over the course of next five years on account of changing lifestyle and rising disposable income of consumers. In 2015, with a value share of more than 60 per cent, the textile chemicals market was dominated by garment industry, followed by home furnishing and technical textile sectors.
Textile chemicals are used during the processing of textiles, and are broadly classified as auxiliaries and colorants… Auxiliaries are chemicals used during at almost all the steps of textile manufacturing process to provide specific characteristics to the fabric, while colorants are used to impart colour to the textile product.
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Huntsman, Archroma, Croda, Rossari and CHT India are few of the well-known companies involved in production and distribution of textile auxiliaries and colorants in India. “The Government of India is increasing its focus on the technical textile segment, as it is an upcoming segment in the country’s textile industry. Technical textile products are used for imparting durability, strength and safety to the textile material. Anticipated growth in demand for technical textile products is expected to boost consumption of textile chemicals through 2021,”said Karan Chechi, Research Director at TechSci Research.
