Textile Chemicals Market rising at a CAGR of 4.7% during the forecast period 2022 - 2030
Textile Chemicals Industry Overview The global textile chemicals market size was valued at USD 23.89 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. This growth is attributable to a growing demand for apparel, technical textiles, home textiles, and others. With the growing population, the demand for clothes and other textile products is expected to increase, thus fueling the production capacities of this industry. But at present, global trade is getting more complicated due to recession in various countries, resulting in currency fluctuations. Other major challenges faced by the textile industry include the Eurozone crisis and Britain post-BREXIT. According to the American Chemistry Council, the chemicals industry in the U.S. is expected to witness an increase in volume consumption due to growing demand for chemicals from the automotive, construction, and consumer goods industries. However, the chemi...