Indian textile chemicals industry to cross US $ 2.5 billion-mark by 2021
TechSci, a research-based global administration consulting organization, has released its latest article titled, ‘India Textile Chemicals Market By Product Type, By Program, Competition Forecast & Opportunities - 2011-2021’, which states that textile chemical substances market in the united states will be greater than US $ 2.5 billion by the year 2021.
The Government of India’s support to textile industry, top quality textile products, growing export and domestic demand are the main reasons for this expected growth. The survey also mentions that the Indian attire sector will continue its dominance over the course of next five years on account of changing lifestyle and rising disposable income of buyers. In 2015, with a value share of more than 60 per cent, the textile chemicals industry was dominated by garment sector, accompanied by home furnishing and complex textile sectors.
Textile chemicals are used through the processing of textiles, and so are broadly classified as auxiliaries and colorants… Auxiliaries are chemicals used during at virtually all the steps of textile production process to provide specific qualities to the fabric, while colorants are being used to impart color to the textile product.
Huntsman, Archroma, Croda, Rossari and CHT India are several well-known companies involved in production and distribution of textile auxiliaries and colorants found in India. “THE FEDERAL GOVERNMENT of India is increasing its focus on the specialized textile segment, as it can be an approaching segment in the country’s textile sector. Technical textile products are used for imparting durability, durability and security to the textile materials. Anticipated growth in demand for technical textile goods is likely to boost consumption of textile chemicals through 2021,”explained Karan Chechi, Research Director at TechSci Analysis.
Source: apparelresources.com
