The global textile chemicals market size is projected to reach USD 26.97 billion by the end of 2026. The increasing applications of the product across diverse industry verticals will emerge in favor of the growth of the market. According to a report published by Fortune Business Insights, titled “Textile Chemicals Market Size, Share & Industry Analysis, By Product Type (Coating & Sizing Chemicals, Colorant & Auxiliaries, Finishing Agents, Surfactants, De-sizing Agents and Others), By Application (Apparel, Home Furnishing, and Technical Textiles) and Regional Forecast, 2019-2026,” the market was worth USD 20.67 billion in 2019 and will exhibit a CAGR of 3.5% during the forecast period, 2019-2026.
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Asia Pacific Likely to Emerge Dominant; Presence of Major Textile Manufacturers will Bode Well for Market Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The Asia Pacific is the hub for leading textile manufacturers. The region is home to companies such as DIC Corporation, Sarex Chemicals, and Kiri Industries. The favorable climatic conditions have led to an ease of availability of raw materials in several countries across this region. As of 2019, the market in the Asia Pacific was worth 1.54 billion, and this value is projected to increase at a considerable pace in the coming years.