Textile industry being one of the most established industries of the market is concerned with production, design, and distribution of cloth, and yarn. Textile auxiliary, being a part of the textile industry is maneuvered for various purposes at various stages of textile processing. These stages are pre-treatment, printing, dying, and finishing. Textile auxiliaries are engaged in the processing in order to increase the esthetic appeal as well as durability of textile products. The textile industry is seen to be increasing its utilization in the market due to the functional properties of these products. The surge in consumption and production of textiles is presumed to boost the global textile auxiliaries market in the future years.
There are various exhibitions held in order to do branding and advertise textile products in the world. There is a taste for garments developed with time and various textile companies try to use this trend to draw more revenue into their company by producing better quality products as compared to their fellow competitors. For instance, the latest textile products and technologies were out for exhibition on Vietnam Hanoi Textile and Garment Industry Expo towards the end of September. This expo had hosted textile materials from around 12 countries of the world including Hong Kong, and China which had attracted almost about 118 enterprises from the world to display their best quality products including silk, yarn bamboo fiber, cotton, and non-woven fabrics, at the expo.
BRIC Nations to Contribute More Revenue Share Due To Surge in Architectural Purposes
The growth in infrastructure and urbanization on a rapid scale in the BRIC nations of Brazil, Russia, India, China, and South America is providing an advantageous factor for the development of textile auxiliaries in the global market. It is mainly used for architectural and construction purposes like concrete reinforcement, insulation, and faced foundation. The increase in technical textile usage is projected to accelerate the market for textile auxiliaries in the period of assessment.
Major players of the market are focusing on innovative techniques in Research and development strategies in order to set their strong foot in the market. Another sub division of textiles called meditech textiles are used for health and hygiene purposes and are also used for surgical purposes. Rising awareness regarding hygiene and health in developing nations is also boosting the need and demand for medical care all around the world.
Government is also taking initiatives to increase per capita income expenditure on medical facilities on a global basis. They are making investments in research and development activities in order to produce energy efficient and eco-friendly products. Along with that the demand for healthcare products like sanitary napkins and baby diapers are also fuelling the growth of the textile auxiliaries market in the world.
Asia Pacific to Witness High Growth Frequency with Eco-Friendly and Cost-Efficient Products
Although the growth of the textile auxiliaries is projected to witness remarkable growth, factors like the high cost of natural textile auxiliaries may further hamper the market in the long run. Natural textiles are more expensive as compared to synthetic ones and this is because of the high cost of raw materials and cost of operation that have limited availability in terms of natural auxiliaries. However, the operations used for manufacturing and extraction of natural textile auxiliaries require trained workers with technical knowledge in order to organize the process. Factors like these may affect the development of the textile auxiliaries market in the long run.
Geographically, the textile auxiliaries companies are seen to be dominating the market in regions of Europe, North America, Asia Pacific and the Rest of the World. There is more focus on producing chemicals that are cost efficient, energy efficient as well as eco-friendly. Asia Pacific is seen to be dominating the market due to contributions from emerging nations of Japan, South Korea, Thailand, Malaysia, Bangladesh, and Singapore. India also contributes a large portion of the share of the Asia Pacific market. Latin America is also presumed to be competing at a close end with Asia Pacific owing to revenue generation from countries like Peru, Chile, Argentina, Mexico, and Brazil. The future market of textile auxiliaries is forecasted to be growing significantly with time.