Increasing demand for textile products from domestic as well as international market coupled with capacity expansion and favorable government policies to fuel India textile chemicals market through 2023
According to TechSci Research report, “India Textile Chemicals Market By Type, By Process Type, By Textile Type, By Sales Channel, By End Use, Competition, Forecast & Opportunities, 2013 – 2023”, India textile chemicals market is projected to grow at a CAGR of around 10%, in value terms, during 2018-2023. The market is highly fragmented with around 300-500 players operating in the market, owing to high rate of subsidy offered to small enterprises by the government of India to establish their business. Over the past few years, textile industry has witnessed constant growth due to increasing exports of yarn and fabrics along with growing focus towards the development of technical textiles in the country. Moreover, stringent environmental regulations imposed in China against pollution have forced several Chinese textile dye manufacturers to discontinue their operations, which in turn is resulting in opportunities for Indian players to further penetrate the international market.
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Several textile manufacturers are striving for the production of high-quality finished textile products to compete with highly rated clothing brands, owing to which increasing focus on pre-treatment and finishing processes is growing in India. Moreover, rising focus on imparting wrinkle- free anti-microbial, anti-fungal properties to final textile products is anticipated to propel the demand for textile chemicals in India during forecast period. Western region accounts for the largest share in India textile chemicals market, backed by the presence of large number of textile mills in the region, majorly in Gujarat and Maharashtra for production of apparel, home furnishing products and technical textiles.
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“Western India is the hub for textile manufacturing industry, boasting presence of major players like Reliance Industries Ltd., Arvind Ltd. and Jindal Worldwide Ltd. in the region. Growing government investments towards the establishment of textile technical parks and favorable policies of state governments of Gujarat and Maharashtra to promote growth and expansion of technical textile industry are expected to aid the domestic textile manufacturing industry in western region, thereby catalyzing the demand for textile chemicals in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Textile Chemicals Market By Type, By Process Type, By Textile Type, By Sales Channel, By End Use, Competition, Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of textile chemicals market across the country and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India textile chemicals market.
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