Textile chemicals market forecast and opportunities, 2019

The textile chemicals market in Bangladesh is projected to grow at a CAGR of 6.9% during 2014-19, according to the recent announcement by Research and Markets’ in the addition of the “Bangladesh Textile Chemicals Market Forecast and Opportunities, 2019”.

textile chemicalThe country is witnessing significant investments in the textile market from all across the globe, primarily from China and India. The textile chemicals market is expected to witness healthy growth due to continuously increasing demand for Bangladeshi textiles and readymade garments in Europe and the United States. In addition, changing patterns in the consumption of specialty finishing and pre-treatment chemicals is expected to drive the demand for textile chemicals during the forecast period. The report provides a comprehensive list of buyers, distributors and suppliers of textile chemicals, along with their portfolio and contact details, in Bangladesh. The report also profiles companies operating in Bangladesh textile chemicals, including certain major players such as Huntsman, Archroma and BASF.

Textile chemicals are used during fabric coloring and textile processing in order to improve the overall fabric quality. These chemicals find widespread application during the processing of cellulosic fibers such as cotton, jute and linen as well as synthetic fibers like polyesters and nylon. With Bangladesh emerging as one of the major textile exporting nations, the demand for textile chemicals in the country has increased sharply in the recent years. Low worker wages and easy raw material availability are some of the prime factors driving the country’s textile industry as well as other allied industries such as textile chemicals. However, due to limited technical capabilities and poor infrastructure, multinational textile chemical companies have not been able to set up their production facilities in Bangladesh. Textile chemicals are largely imported in Bangladesh from other countries due to poor chemical production infrastructure in the country. In order to capitalize on huge growth opportunities in the market, these companies are importing textile chemicals from their key production facilities in countries such as India and China.