- The explosive growth of the textile industry is the primary driver of the market.
- Increasing population and high disposable income are also driving the market.
- East Asia and South Asia accounted for a majority of the market share.
Textile stabilizers serve the purpose of stabilizing the chemical reactions through either slowing down or inhibiting the reactions within the textiles. The stabilizer plays a crucial role in the textile manufacturing industries by maintaining the strength, texture, composition and color of the textile materials. The stabilizers are used across various textile types including fibers, yarn, fabrics and garments. Antioxidants and sequestering agents are the most widely used stabilizers in the textile industry. The global textile stabilizers market is expected to witness a single digit CAGR over the forecast period, 2018-2028. Wood fiber yarn technology and tech infused wearable are some of the recent trends within the textile industry that would drive the textile stabilizers market. Moreover, growing textile industry, increasing demand for apparels coupled with increasing population worldwide and innovative stabilizers offered by the key players are some of the factors providing traction to the textile stabilizers market growth.
Rapidly growing textile industry worldwide is providing traction to textile stabilizers market growth over the forecast period
Surging textile industry across the globe is calling for high adoption of textile stabilizers that is positively influencing the market growth till 2028. As per Federation of Indian Chambers of Commerce & Industry, the global textile and apparel trade was estimated to be around $750 billion in 2017 that grew with a CAGR of 2% over 2007-2017. In addition, the overall apparel consumption is estimated to rise at a CAGR of 4% to touch $2.6 trillion by the end of 2025. European Union, United States, China and Japan are amongst the top countries considering apparel consumption. Such high growth in the textile industry tends to create wide adoption base for the textile stabilizers that would escalate the market growth. In addition, governments of countries, such as India, China, United States etc. along with the clothing companies have announced significant investments within the textile sector that would present enormous opportunities to the market till 2028. Moreover, the increasing population along with increasing disposable income tends to create unique demand for high quality apparels. Wood fiber yarn technology, tech infused wearable, Biofabrication Leather etc. are some of the bright trends that would give a positive boost to the textile production, thereby driving the textile stabilizers market over the forecast period.
Textile stabilizers Market: Regional Outlook
The global textile stabilizers market is segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA. Among the above-mentioned regions, East Asia and South Asia accounted for a majority of the market share under the global textile stabilizers market owing to high adoption of textile stabilizers within the textile industry. In addition, increasing disposable income and steadily growing apparel industry also drives the regional textile stabilizers market. Furthermore, Europe is projected to showcase moderate growth in the global textile stabilizers market. Moreover, North America is expected to hold significant market share till 2028 owing to wide number of global clothing brands and high disposable income coupled with presence of various key players of the textile stabilizers market.
Key players of Textile stabilizers Market
Prominent players in the global textile stabilizers market are Cristol, Huntsman Corporation, L.N. Chemical Industries, Songwon Industrial Group etc. The Textile stabilizers market consists of well-diversified global and regional players with global vendors ruling the market.
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