NEW YORK, August 4, 2016 /PRNewswire/ --
Booming textile industry, increasing overseas demand for locally manufactured textile products and favorable government initiatives to drive India textile chemicals market through 2021
According to TechSci Research report, "India Textile Chemicals Market By Product Type, By Application, Competition Forecast & Opportunities, 2011 - 2021'’, textile chemicals market in India is projected to cross US$ 2.5 billion by 2021. Rising global as well as domestic demand for high quality textile products, growing textile production, favorable government policies and increasing garments sourcing from India by international brands are boosting demand for textile chemicals in the country. Textile chemicals are used during the processing of textiles, and are broadly classified as auxiliaries and colorants. Auxiliaries are chemicals used during almost all steps of textile manufacturing process to provide specific characteristics to the fabric, while colorants are used to impart color to the textile product. In 2015, Government of India sanctioned a corpus of more than US$ 154.73 million to the handloom, handicraft, silk, power loom and wool sectors to promote the country's textile industry. These initiatives are expected to boost demand for textile chemicals in the country through 2021.
Browse 23 market data Tables and 61 Figures spread through 109 Pages and an in-depth TOC on
"India Textile Chemicals Market"
In 2015, India textile chemicals market was dominated by apparel industry with a value share of more than 60%, followed by home furnishing and technical textile sectors. Apparel industry is expected to continue its dominance over the course of next five years on account of changing lifestyle and rising disposable income of consumers. Further, the textile ministry of India has announced and sanctioned setting up of textile parks across the country to encourage textile production, which would boost demand for textile chemicals in the coming years. Archroma, Huntsman, Rossari, Croda, and CHT India are few of the leading players involved in production and distribution of textile auxiliaries and colorants in India.
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Sales of textile chemicals in India exhibited strong growth over the last five years on account of expanding textile industry in the country. Additionally, growing overseas demand for textile products manufactured in India is positively influencing demand for textile chemicals in the country. "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 Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Textile Chemicals Market By Product Type, By Application, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of India textile chemicals market and provides statistics and information on market size, consumer behavior and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India textile chemicals market.
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