Textile chemicals Market

Textile chemicals Market Size by Fiber (Natural, Synthetic), Product Type (Coating & Sizing, Finishing Agents, Surfactants, Colorants & Auxiliaries, Desizing Agents, Bleaching Agents, And Others), Application (Apparel, Technical Textile, Home Furnishing, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12609
  • Published Date: Nov, 2021
  • Pages: 234
  • Category: Chemicals & Materials
  • Format: PDF
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Global textile chemicals market is expected to reach USD 37.58 billion by 2030, at a CAGR of 4.5% from 2021 to 2030. High demand from the fast-growing apparel industry has led to this huge growth. Globally, rising disposable incomes have encouraged garment shopping, as has increased penetration of organised retail.

Market Overview:

A flexible woven material consisting of a network of natural or artificial fibres, typically referred to as thread or yarn," is referred to as textile. Textiles are used for carpets, furnishings, window shades, towels, tablecloths, bedcovers, flags, backpacks, tents, nets, handkerchiefs, balloons, kites, and sails. Textiles are created from a variety of materials. Animal (wool, silk), plant (cotton, flax, jute), mineral (asbestos, glass fibre), and synthetic materials are the four main sources of these materials (nylon, polyester, acrylic). Before reaching the final user, textiles must undergo a variety of treatment processes. Textile chemicals are specialty chemicals used to impart desirable features to the finished product during the dyeing and processing of textiles. Textile chemicals are chemicals used in clothing, textiles, furniture, and other products. Colors, finishing characteristics, and surfactants all differ across these chemicals. Textile chemicals are commonly found in both synthetic and natural fabrics. These chemicals are used to give materials certain attributes like sweat absorbency, antimicrobial properties, wrinkle resistance, stain resistance, and the desired texture and finish.

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Market Dynamics:

Drivers:
  • Increasing Awareness of Textile Chemistry's Benefits in Manufacturing to Boost Growth

Textile chemistry is a highly specialised field that employs chemistry principles at many stages of textile and clothing production. Textile chemistry is divided into several categories, including dyeing and finishing, fibre and polymer, and the more crucial combination of material science and textile materials. Textile chemistry has become a vital part in the textile and garment industry as customer demand for enhanced quality and functionality increases. 

  • Growing production

Chemicals have become more widely used as additional raw materials as textile production and consumption have expanded. Textile manufacture employs a wide range of chemical types and quantities. Chemicals used in textiles and their exposure to textile industry people, as well as their environmental implications, have received more attention in the current industry scenario. Novel technologies have been vital in ensuring the steady growth of these products while adhering to safety, health, and environmental requirements.

Restraints:
  • Fluctuating raw material prices

Fluctuating phenol and surfactant raw material prices are predicted to make it difficult for industry players to attain profitability and economies of scale. Esters, which have excellent lubricating characteristics and are utilised as surfactants, are one of the most extensively used raw materials for manufacturing various industrial textile auxiliary products. Softeners, emulsifiers, and antistatic agents are all possible applications.

Opportunities:
  • Textile manufacturers' adoption of sustainable products

Most textile and chemical businesses are switching to green chemicals as a result of strict environmental restrictions and a dedication to long-term goals. In 2019, for example, the biological dyeing company Colorifix conducted new industrial scale trials for biological dyes in collaboration with textile producers such as Switzerland's Forster Rohner and India's Arvind. Environmental rules are strictly followed in developed countries. Developing countries are also laying out their plans for a long-term future.

As a result, over the forecast period, the green textile chemical segment has potential growth possibilities in both developed and developing economies.

Challenges:
  • COVID-19 impact

Due to the lockdown in several nations, the COVID-19 has a significant impact on the garment business globally, as well as the textile chemicals industry. The global textile and garment sector is heavily reliant on China as a manufacturing base, as here is where the novel COVID-19 virus was initially found and spread to other countries. This resulted in store closures and decreased demand for textiles, which had a negative influence on the sector. Even if the situation improves, the industry may take some time to recover in the future years, which will have a substantial influence on demand for textile chemicals.

Segmentation Analysis:

The global textile chemicals market has been segmented based on fiber, product type, application, and regions.

  • The fiber segment is divided into natural and synthetic. The synthetic segment dominated the textile chemicals market with a market share of around 58.1% in 2020.
  • The product type segment is divided into coating & sizing, finishing agents, surfactants, colourants & auxiliaries, desizing agents, bleaching agents, and others. The coating & sizing segment dominated the textile chemicals market with a market share of around 28.1% in 2020. Sizing chemicals are mostly used to improve yarn abrasion resistance and strength while weaving. The use of sizing chemicals decreases weaving risks such as yarn fraying and breakage during the weaving process. Over the forecast period, ingredients that improve the yarn's abrasion resistance and flexibility are expected to see a large increase in demand.
  • The application segment includes apparel, technical textile, home furnishing, others. The apparel segment dominated the textile chemicals market with a market share of around 46.1% in 2020. Shirts, t-shirts, suits, coats, trousers, skirts, shorts, kids' wear, and swimwear are among the products in the apparel segment. The major driver of segment expansion is increased garment production to fulfil rising demand from a growing population. The apparel industry is a fast-paced industry that is influenced by changing consumer preferences. Apparel manufacturers are more focused on maintaining product quality and using the latest manufacturing techniques and raw materials in order to survive in a highly competitive environment. As a result, textile chemicals are widely used in the apparel industry.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region emerged as the largest market for the global textile chemicals market with a 38.4% share of the market revenue in 2020.

  • Increased consumption of textile chemicals for application throughout various stages of fabric processing is expected as demand for apparels grows in North America. The need for technical textiles is predicted to expand fast as a result of their use in a wide range of industries, including chemical, manufacturing, and medical. Imported textiles manufactured with cheap labour costs and low-cost infrastructure are giving tough competition to North America's textile industry.

Asia Pacific Region Textile Chemicals Market Share in 2020 - 38.4%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global textile chemicals industry.

Huntsman Textile Effects and PhongPhu International (PPJ) announced a partnership agreement in April 2020, with the goal of supporting PhongPhu International's (PPJ) growth in Vietnam as a leading manufacturer of sustainable, high-performance textiles and garments for a variety of global brands and retailers.

In 2019, Croda International has partnered with Microban to bring its antibacterial and odour control solutions to the Indian and Indonesian markets. Microban'sScentry, Scentry Revive, AEGIS, and SilverShield are among the products included. Both companies hope to take advantage of new opportunities in the textile industry as a result of this agreement. ​

List of Key Market Players:

  • Evonik
  • Kemira
  • Kiri Industries Limited
  • Omnova Solutions Inc.
  • Sumitomo Chemicals Co. Ltd.
  • Tata Chemicals Ltd.
  • The Lubrizol Corporation

Key Target Audience

  • Investors
  • Chemical Manufacturing Companies
  • Chemical Suppliers/Distributors
  • Government Authorities and R&D Institutions
  • Consulting And Research Firm

Report Description:

  • Global Textile chemicals Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global textile chemicals market is based on revenue (USD Billion), volume (Kilotons) and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global textile chemicals market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East &Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of textile chemicals based on fiber, product type, application, and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global textile chemicals market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global textile chemicals market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global textile chemicals market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the textile chemicals market was valued at USD 24.20 billion in 2020 and is anticipated to reach USD 37.58 billion by 2030.

Global Textile chemicals market is growing at a CAGR of 4.5% during the forecast period 2021-2030.

The global textile chemicals market has been segmented based on fiber, product type, application, and regions. The synthetic segment led the fiber segment in the market. The coating & sizing segment led the product segment in the market.

Asia Pacific region emerged as the largest market for the textile chemicals.

Increasing awareness of textile chemistry's benefits in manufacturing is the key driving factor for the Textile chemicals market.

Fluctuating raw material prices may hamper the market growth.

Textile manufacturers' adoption of sustainable products will provide huge opportunities to the market.

Key players areEvonik, Kemira, Kiri Industries Limited, Omnova Solutions Inc., Sumitomo Chemicals Co. Ltd., Tata Chemicals Ltd. And The Lubrizol Corporation.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis ByFiber
          4.3.2. Market Attractiveness Analysis ByProduct Type
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing Awareness of Textile Chemistry's Benefits in Manufacturing to Boost Growth
          5.2.2. Growing production
    5.3. Restraints
          5.3.1. Fluctuating raw material prices
    5.4. Opportunities
          5.4.1. Textile manufacturers' adoption of sustainable products
    5.5. Challenges
          5.5.1. COVID-19 impact

6. Global Textile Chemicals Market Analysis and Forecast, By Fiber
    6.1. Segment Overview
    6.2. Natural
    6.3. Synthetic

7. Global Textile Chemicals Market Analysis and Forecast, By Product Type
    7.1. Segment Overview
    7.2. Coating & sizing
    7.3. Surfactants
    7.4. Finishing agents
    7.5. Colorants & auxiliaries
    7.6. Bleaching Agents
    7.7. Desizing Agents
    7.8. Others

8. Global Textile Chemicals Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Apparel
    8.3. Technical textile
    8.4. Home Furnishing
    8.5. Others

9. Global Textile Chemicals MarketAnalysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Textile Chemicals Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Textile Chemicals Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Evonik
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Kemira
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Kiri Industries Limited
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Omnova Solutions Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Sumitomo Chemicals Co. Ltd.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Tata Chemicals Ltd.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. The Lubrizol Corporation
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
 

List of Table

1. Global Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

2. Global NaturalTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

3. Global SyntheticTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

4. Global Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

5. Global Coating & sizingTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

6. Global SurfactantsTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

7. Global Finishing agentsTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

8. Global Colorants & auxiliaries FoodTextile ChemicalsMarket, By Region, 2018-2030 (USD Billion) (Kilotons)

9. Global Bleaching AgentsTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

10. Global Desizing AgentsTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

11. Global OthersTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

12. Global Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

13. Global ApparelTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

14. Global Technical TextileTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

15. Global Home FurnishingTextile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

16. Global Textile Chemicals Market, By Region, 2018-2030 (USD Billion) (Kilotons)

17. North America Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

18. North America Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

19. North America Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

20. U.S. Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

21. U.S. Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

22. U.S. Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

23. Canada Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

24. Canada Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

25. Canada Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

26. Mexico Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

27. Mexico Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

28. Mexico Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

29. Europe Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

30. Europe Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

31. Europe Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

32. Germany Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

33. Germany Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

34. Germany Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

35. France Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

36. France Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

37. France Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

38. U.K. Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

39. U.K. Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

40. U.K. Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

41. Italy Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

42. Italy Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

43. Italy Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

44. Spain Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

45. Spain Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

46. Spain Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

47. Asia Pacific Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

48. Asia Pacific Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

49. Asia Pacific Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

50. Japan Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

51. Japan Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

52. Japan Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

53. China Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

54. China Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

55. China Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

56. India Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

57. India Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

58. India Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

59. South America Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

60. South America Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

61. South America Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

62. Brazil Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

63. Brazil Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

64. Brazil Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

65. Middle East and Africa Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

66. Middle East and Africa Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

67. Middle East and Africa Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

68. UAE Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

69. UAE Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

70. UAE Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

71. South Africa Textile Chemicals Market, By Fiber, 2018-2030 (USD Billion) (Kilotons)

72. South Africa Textile Chemicals Market, By Product Type, 2018-2030 (USD Billion) (Kilotons)

73. South Africa Textile Chemicals Market, By Application, 2018-2030 (USD Billion) (Kilotons)

List of Figures 

1. Global Textile Chemicals Market Segmentation

2. Textile Chemicals Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Textile Chemicals Market Attractiveness Analysis By Fiber

9. Global Textile Chemicals Market Attractiveness Analysis By Product Type

10. Global Textile Chemicals Market Attractiveness Analysis By Application

11. Global Textile Chemicals Market Attractiveness Analysis By Region

12. Global Textile Chemicals Market: Dynamics

13. Global Textile Chemicals Market Share by Fiber (2020 & 2030)

14. Global Textile Chemicals Market Share by Product Type (2020 & 2030)

15. Global Textile Chemicals Market Share by Application (2020 & 2030)

16. Global Textile Chemicals Market Share by Regions (2020 & 2030)

17. Global Textile Chemicals Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global Textile Chemicals market based on below mentioned segments:

Global Textile Chemicals Market by Fiber:

  • Natural
  • Synthetic

Global Textile Chemicals Market by Product Type:

  • Coating & Sizing
  • Finishing Agents
  • Surfactants
  • Colorants & Auxiliaries
  • Desizing Agents
  • Bleaching Agents
  • Others

Global Textile Chemicals Market by Application:

  • Apparel
  • Technical Textile
  • Home Furnishing
  • Others

Global Textile Chemicals Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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