The Indian textile chemicals market is estimated to grow at a substantial CAGR of 5.1% during the forecast period. India is a growing economy and holds great potential for future market opportunities. The country witnessed a decline in its GDP to 5% in the quarter ending June 2019 (its lowest in five years) from 7.1% in 2018. The stagnation caused in the industrial output, greenfield investment, and flattened demand have led to a decline in the growth rate in the country. However, the outbreak of COVID-19 has further affected the economy at present. The textile industry in India is one of the most vital sectors of the economy, contributing over 2% to the country’s GDP. India is the world’s second-largest manufacturer and exporter of textile and apparel after China. India’s textile sector is one of the oldest industries in the Indian economy, dating back to several centuries. The Indian textile industry is estimated to register a CAGR of nearly 8.0% during the forecast period. The government of India has announced to invest of over $100 million in setting up 21 ready-made garment manufacturing units for the development and modernization of the Indian textile sector.

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Further, drivers for the textiles and apparel industry include India’s rising middle class, its ongoing urbanization, and the rising number of nuclear families, which have resulted in westernized tastes and higher consumption and spending. This creates opportunities for boosting domestic production capacity and expertise, as well as for the entry, or deeper penetration of, global textile and apparel brands. Emerging trends including technical textiles, a global player in fast fashion, textile parks to attract global investments, and technology upgradation, all are playing an important role in advancing the textile industry in the country, which, correspondingly accelerates the demand for textile chemicals.

Moreover, industrial manufacturing in the country has emerged as one of the high growth sectors. The "Make in India" initiative is an opportunity for the country to make it a manufacturing hub. This program is expected to aid the country to become the fifth largest manufacturing hub by the end of 2020. However, COVID-19 has negatively impacted growth, and it is also expected to impact the market for textile chemicals.

The Indian textile chemicals market is segmented based on type, application, and raw material. Based on type, the market is classified into colorants & auxiliaries, coating & sizing chemicals, surfactants, desizing agents, finishing agents, and others. Based on application, the market is segmented into apparel, automotive textile, home furnishing, industrial textile, and others. Based on raw material, the market is fragmented into synthetic, cotton, wool & cashmere, silk, rayon/viscose, others.

Lastly, textile in India has always been one of the most lucrative businesses for manufacturers, distributors, and all the players involved in the life chain of textiles. A huge number of different size players reside in the country. Owing to this numerous textile chemical players have also emerged in the market. Some of the major ones include Archroma, Rossari Biotech Ltd., Sarex Chemical Ltd., Tata Chemicals Ltd., Fineotex Chemical Ltd., JAY Chemical Industries Pvt. Ltd., K-TECH India Pvt. Ltd., among more.

Research Methodology

The market study of the Indian textile chemicals market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for chemical manufacturers, the textile industry, raw material suppliers, traders, third-party distributors, importers, exporters, government organizations, regulatory bodies, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and strategies adopted by them. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. India Textile Chemicals Market Research and Analysis by Type
2. India Textile Chemicals Market Research and Analysis by Application
3. India Textile Chemicals Market Research and Analysis by Raw Material

The Report Covers

• Comprehensive research methodology of the India textile chemicals market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian textile chemicals market.
• Insights about market determinants that are stimulating the Indian textile chemicals market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.