Global Textile Chemicals Market Trending in 2021
New York, NY 11 Nov 2021: The global textile chemicals market is anticipated to reach USD 25.73 billion by 2026 according to a new study published by Polaris Market Research
Textile chemicals are one of the major segments of the global chemical manufacturing industry. The growth of the textile manufacturing industry has been the major factor driving demand for these products. Relatively low capital intensity, use of low skilled labor and lower investment cost characteristics depicts the industry’s relatively footloose nature and hence can adjust to the changing conditions of the market. Several trade policy regulatory norms and their nature of volatility in different geographies have played a significant role as this segment of the chemicals are bound to satisfy even the textile manufacturing legislations.
Demand of these chemicals across different geographies is influenced by the rising emphasis of product quality all throughout the world-wide textile industry and also the increasing demand for durable and comfortable apparels. Moreover, increasing production of technical/industrial and automobile textiles is expected to further add to the demand of these products. Natural fibers of cheap are among the leading segments generating higher consumption figures for these products. However, cheaper fibers with manmade better performance alternatives use in several industrial might be a restraint for direct and vat dyes, reactive as well as preparation and sizing chemicals that are generally used in the processing of these natural fibers.
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The nonetheless naturally derived fibers are projected to constitute a larger share of the application segment. This will provide higher market penetration opportunities mainly for the high value non-chlorine bleaching agents including hydrogen peroxide and also for other product segments like finishing chemicals. As natural fibers are expected to be the largest market for these textile chemical components, strong demand for products designed for offering improved performance and comfort of cellulosic and synthetic manufactured fibers.
Asia Pacific region is expected to emerge as the largest market worldwide. Along with increasing penetration of these products, consumption of these products is increasing, owing to the increasing textile manufacturing base especially in China and India. The primary export markets of the region include Brazil, Western & Eastern Europe and the Middle East. The Asia Pacific market is also projected to grow at a faster rate compared to other regions.
Some of the leading industry participants actively operating in the present industry scenario include Archroma, The DyStar Group, The Lubrizol Corporation, Lonsen Inc., The Dow Chemical Company, Kiri Industries Limited, Solvay SA, OMNOVA Solutions Inc., Covestro AG and Pulcra Chemicals GmbH.
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
