NEW YORK, September 22, 2016 /PRNewswire/ --
Textile chemicals are specialized formulations, which are used to impart desired properties and colors during manufacturing of textile, by means of various stages of textile processing such a s pretreatment, dyeing, finishing and printing. The textile industry is responsible for producing clothes and fabrics for use in carpets, towels, beddings, furnishings, flags, tents, mats, sails, etc. Textile factories require special chemical intermediates to enhance aesthetic appeal in the finished fabric items. There are a variety of textile chemicals used in Vietnam at different processing stages of fabric. Broadly, these textile chemicals can be categorized as auxiliaries and colorants. Textile auxiliaries, such as surfactants, wetting agents, scouring agents, sequestering agents, emulsifiers, de-sizing agents etc., account for the largest share in the Vietnam textile chemicals market owing to their high efficiency as pretreatment chemicals during textile processing. Textile colorants account for the remaining share in Vietnam with demand generating from the rising middle class population and requirement for new textile colors by the consumers. Consequently, these categories of textile chemicals account for a meager share in the textile chemicals market in Vietnam.
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Vietnam Textile Chemicals Market: Drivers and Restraints
The country is the fourth largest textile and apparels industry after China, India and Bangladesh, on account of which, Vietnam emanates large demand for textile chemicals in Vietnam. Flourishing textile and garments industry can be attributed to expanding exports market, rising demand for home furnishing items and increasing employment of industrial fabrics or technical textiles by domestic factories in Vietnam. Consequently, the Vietnam textile chemicals market is projected to exhibit robust growth over the next nine years. Highly fragmented and unorganized market due to presence of large number of small scale manufacturers is a major challenge for the Vietnam textile chemicals market. Rising labor wages in the country is also restraining the growth in the Vietnam textile chemical market. Additionally, devalued currency of China, India and Bangladesh, which have resulted in growth of textile industry exports from these countries, may impact the Vietnam textile chemicals market negatively.
Vietnam Textile Chemical Market: Segmentation
Based on product type, Vietnam textile chemicals market is segmented as:
Based on product type, Vietnam textile chemicals market is segmented as:
Vietnam Textile Chemicals Market: Overview
Textile chemicals market in Vietnam is expected to witness strong growth in the coming five years on account of improvements in macroeconomic factors and smooth trading policies. In 2015, total cotton fiber production accounted for 0.6 thousand metric tons and yarn production from cotton and polyester/rayon was 990 thousand metric tons in Vietnam, as a result of which, the country accounted for nearly USD 27.2 billion worth of total apparels export to international markets including US, Japan, EU, Korea, etc. in 2015. Implementation of Trans-Pacific Partnership (TPP) agreement is expected to aid the growth of textile industry of the country, thereby driving the Vietnam textile chemicals market over the next nine years. Rising industrialization and urbanization is leading to increase in the demand for high- quality textile products in the country, which would further escalate the growth of Vietnam textile chemicals market. Additionally, upcoming textile specialty chemical plants and projects in the country are further going to boost the overall textile chemicals market in the country through 2025.
Vietnam Textile Chemicals Market: Region-wise Outlook
Growing textile industrial establishments in the various regions of Vietnam is anticipated to aid the demand for textile chemicals in the country. Northern and southern region are expected to be the major demand generator for textile chemicals in the country and are expected to capture larger share in the market. Provinces in the central region are witnessing a comparatively slower industrial expansion, as a result, this region is projected to witness a slower year-on-year growth for textile chemicals during the forecast period.
Vietnam Textile Chemicals Market: Key Players
Key players in the Vietnam textile chemicals market include Huntsman Textile Effects, Avco Vietnam Company Limited, Archroma Vietnam and Others.
The report covers exhaustive analysis on:
"Vietnam Textile Chemicals Market Forecast & Opportunities, 2011-2025" has analyzed the potential of the Vietnam Textile Chemicals market and provides statistics and information on market sizes, shares, and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
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