The Indian textile chemicals market is expected to exhibit a rapid CAGR of 5.1% during the forecast period (2020-2026). The Indian textile industry has witnessed positive growth, not only in India but also in the international market. It is one of the leading apparel-exporting countries, supplying to a large market in Europe, including Germany, Spain, France, and the UK, making it a hot prospect for textile chemicals during the forecast period.
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The present outbreak of COVID-19 in the country has boosted the manufacturing of masks, and PPE kits, which has, in turn, enhanced the usage of textile chemicals. In May 2020, the Indian government announced that the country has a capacity to manufacture 200,000 PPE kits and N95 masks daily and millions of 3-ply masks per day.
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While such trends have been prominent in the country, the recent COVID-19 outbreak has interrupted industrial production and all other economic activities. As the number of coronavirus cases has been continuously increasing in the country, lockdowns are still being practiced, affecting the textile coatings market as well. IMF has predicted the GDP growth of the country to fall to about 1.9% or less, from about 5% in FY2019, during the FY2020, due to the impact of COVID-19.
Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Type and Application
- Country Covered- India
- Competitive Landscape – Archroma, Rossari Biotech Ltd., Sarex Chemical Ltd., Tata Chemicals Ltd., Fineotex Chemical Ltd., JAY Chemical Industries Pvt. Ltd., K-TECH India Pvt. Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
