Technical Textile Chemicals Marketplace to be worth US $ 4.96 billion by 2020, claims Grand View Research
20 August, 2015
Growing at an estimated CAGR of 3.7 % from 2014 to 2020, Global complex textile chemicals demand was 1,646.6 kilo tons in 2013 and is likely to reach 2,124.5 kilo tons by 2020. Main reason for the development of technical textile marketplace is the growing commercial growth fee in China, India, Russia and Brazil. Transtech may be the most important segment which accounted for 25.1 % of total industry volume in 2013 while Geotech is expected to touch the highest growth rate of 6.4 % from 2014 to 2020.
A new study by Grand Viewpoint Research, Inc. promises that Asia Pacific emerged as the top rated regional market for technical textile chemical compounds and accounted for over 55per cent of total market quantity in 2013. Simultaneously European technical textile chemical compounds market is likely to exceed market worth US $ 750 million by 2020, developing at a CAGR of 3.7 per cent from 2014 to 2020
Source: apparelresources.com