Textile chemicals market in India to cross Rs. 9,500 crores by 2018

– TechSci Research study

Chemicals have symbiotic relationship with the textile industry. Hence growth in the textiles market, coupled with the growing textile trade, is expected to positively influence the textile chemicals market in India. For production of the final product, textiles have to go through numerous chemical and water intensive processes. In addition, more than a hundred chemicals are used during textile processing and manufacturing, which are broadly classified into colorants and auxiliaries.

Textile-Chemicals-intro-1By 2018, auxiliaries are expected to hold a major market share of the Indian textile chemicals market because of the growing domestic and international demand for quality textiles and technical textiles. The market for auxiliaries will also grow with the rising textile exports to markets such as the US and Western Europe which demand high quality products.

According to a study done by TechSci Research titled “India Textile Chemicals Market Forecast & Opportunities 2018”, the Indian market for textile chemicals is expected to cross $1.7 billion (Rs. 9,500 crores) by 2018. The market for textile chemicals is highly fragmented with the majority share being held by the unorganized/minor players. However, the share of organized/major players is expected to expand by 2018 as a result of the growing preference for quality products as well as high market penetration of technical textiles.

The study has analyzed the potential of the textile chemicals market in India and provides statistical details and information on market sizes, shares and trends. It provides clients with adequate intelligence to help them in taking sound investment decisions. It also identifies and analyses the emerging trends and the key challenges faced by the industry.

Chemicals such as formaldehyde and azo dyes used in textile processing are hazardous to the environment. As a result, manufacturers of textile chemicals are investing heavily in R&D and are opting for green solutions in order to produce eco-friendly chemicals. They are also widening the use of bio-auxiliaries and other environment-friendly materials to reduce pollution.

The textile chemical industry is also one of the major consumers of water and energy. Around 60 per cent of the energy consumed by the textile industry is for wet processing. In terms of water consumption, the dyeing process requires a product-to-water ratio of 1:200 in terms of weight. Water and energy consumption can be reduced by novel energy conserving processes such as beck dyeing modification, foam process, dye bath reuse, mach nozzle fabric drying, close cycle textile dyeing, ink and film application, etc.

Textile chemicals application segments are classified into apparels, home furnishings/textiles and industrial textiles. Of these, the apparel segment is projected to account for the largest market share by 2018. This can be attributed to the increasing demand for fashionable and eco-compatible products.

“Healthy growth in the textiles market is expected to positively influence the textile chemicals market as these chemicals are derived products and are essential for the manufacturing and processing of textiles. The renewed thrust on exports to Western countries is expected to positively drive the market for textile chemicals. In addition, the increasing investments by the industry players on eco-friendly chemicals and nanotechnology will also contribute to the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research.