The European textile chemical market is anticipated to grow at a moderate CAGR of 2.9% during the forecast period. In Europe, the textile industry is a major contributor to the economy, employing nearly 6% of the working class in total manufacturing in the region, which creates a plethora of opportunities for textile chemicals space in the region. The European textile and apparel market has experienced weak growth overall in the last few years, however, is expected to speed up toward the end of the period, which will result in a moderate growth overall in the textile chemicals space. Top producers of textiles in the EU include Italy, Germany, France, Spain, Portugal, the UK, Belgium, Poland, Romania, and Austria.
Due to the outbreak of COVID-19, the European textile industry incurred significant losses in most of the categories. In Europe, according to an ongoing poll by EURATEX, the voice of the European textile and clothing industry, 80% of companies are already laying off workers; and more than half of them expect a drop in sales and production by over 50%, creating serious financial constraints. One out of four companies is even considering closing down their operations. All these factors have resulted in a major decrease in the growth rate of textile chemicals in the region.
The European textile chemical market is segmented based on type, application, and raw material. Based on application, the market is classified into apparel, automotive textile, home furnishing, industrial textile, and others. Automotive textile materials cover a broad range of applications, including floor covering and trunk liners, safety belts, upholstery and seating, thermal and sound insulators, airbags, hoses, filters, tires, and a variety of textile?reinforced flexible and hard composites. Since the automobile industry in Europe is colossal, the prospect of growth for textile chemicals in the automotive industry is quite high.
By geography, the market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Italy is projected to be the largest textile chemicals market across Europe with a hefty value share, recording a moderate CAGR during the forecast period. Italy is one of the leading fashion hubs, globally. It is home to some of the most famous luxury clothing brands in the world, including Dolce Vita, Prada, Fendi, Versace, Valentino, and various other brands. The Italian textile sector is highly specialized, with the presence of manufacturing facilities pertaining to different segments, along with the textile industry value chain. The textile sector has been showing signs of recovery since 2017, owing to the growth in the export of fabrics, majorly to countries, such as China. However, currently, the country is facing a huge challenge in the form of the COVID-19 outbreak, in 2020. The Italian economy was previously estimated to have witnessed a growth of nearly 0.5%, in terms of GDP, and the GDP growth is now estimated to witness a drastic downfall, in 2020. The GDP of the country is estimated to witness decline rates between 3% and 4%, in the first half of 2020.
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European Textile Chemicals Market Segmentation
By Type
- Colorants &Auxiliaries
- Coating&Sizing Chemicals
- Surfactants
- Desizing Agents
- Finishing Agents
- Others
By Application
- Apparel
- Automotive Textile
- Home Furnishing
- Industrial Textile
- Others
By Raw Material
- Synthetic (Polyester, Nylon)
- Cotton
- Wool & Cashmere
- Silk
- Rayon/Viscose
- Others
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Regional Analysis
- UK
- Germany
- France
- Italy
- Spain
Rest of Europe
Company Profiles
- AB Enzymes GmbH
- Achitex Minerva SpA
- Archroma
- Arkema SA
- Borealis AG
- CHT Germany GmbH
- Covestro AG
- Croda International PLC
- Evonik Industries AG
- Giovanni Bozzetto SpA
- INEOS AG
- KemiraOyj
- Koninklijke DSM N.V.
- LyondellBasell Industries N.V.
- Nouryon
- Rudolf GmbH
- Solvay SA
- Tanatex Chemicals B.V.
- Wacker Chemie AG
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