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Technical Textile Chemicals Market Evolving Industry Trends and key Insights by 2020

Increasing penetration of technical textiles across various end-use industries such as medical, military and transportation is expected to drive the global technical textile chemicals market. Positive outlook on global automotive industry is also expected to have a positive influence on the market growth over the next six years.

The Global Technical Textile Chemicals Market is expected to reach USD 4.96 billion by 2020, according to a new study by Grand View Research, Inc.
 


Increasing industrial growth rate in emerging markets of China, India, Brazil and Russia is further expected to complement the market growth. Volatile prices of key raw materials coupled with growing environmental concerns are expected to remain a key challenge for market participants.

Transtech emerged as the largest application segment and accounted for 25.1% of total market volume in 2013. Growth of automotive industry particularly in BRIC nations coupled with resurgence of American automotive industry is expected to drive the market. Geotech is expected to witness the highest growth rate of 6.4% from 2014 to 2020. Growth of geotextiles market particularly in Asia Pacific and Middle East is expected to remain a key driving factor for this segment.

Global technical textile chemicals demand was 1,646.6 kilo tons in 2013 and is expected to reach 2,124.5 kilo tons by 2020, growing at an estimated CAGR of 3.7% from 2014 to 2020.

To Know More About Technical Textile Chemicals Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/technical-textile-chemicals-market

Asia Pacific emerged as the leading regional market for technical textile chemicals and accounted for over 55% of total market volume in 2013. Increasing infrastructure spending coupled with growth of automotive industry particularly in emerging markets of China, India, Thailand and Indonesia is expected to drive the regional market.

Top Players of Technical Textile Chemicals Market:

Major market participants include Lonsen, DyStar Group, The Lubrizol Corporation, Kiri Industries, The Dow Chemicals Company, Sumitomo Chemicals, BASF SE, Huntsman Corporation, Bayer Material Science AG, Archroma, Clariant International, Omnava Solutions Incorporated, Solvay SA, and Kemira.

Market Segmentation of Technical Textile Chemicals Market:

The Technical Textile Chemicals Market segmented on the basis of Application and Region.

By Application:

    Agrotech
    Buildtech
    Geotech
    Medtech
    Miltech
    Packtech
    Protech
    Transtech

By Region:

    Americas
    Europe
    Asia Pacific
    Middle East & Africa

Inquire about Technical Textile Chemicals Market with Our Experts @ https://www.grandviewresearch.com/inquiry/960
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