According to a recently published report by TechSci Research, a global market research and consulting company, the textile chemicals market in Bangladesh is forecast to grow at a compound annual growth rate of around 7 percent from 2014 to 2019. Growing global demand for ready-made garments, specialty finishing chemicals and dark textile shades is driving textile chemicals consumption in Bangladesh.
The report indicates that Dhaka is the largest consumer of textile chemicals in the country due to the presence of a large number of textile mills and garment factories in the region. Huntsman, Dystar and Archroma are some of the country’s leading suppliers of textile chemicals, which are imported from countries such as Singapore, India, China, Taiwan and South Korea.
Textile chemicals are used for coloring textiles and fabrics, improving the quality of textiles, and providing desired properties to the textile during processing. These chemicals find widespread application during the processing of cotton, wool and synthetic fibers. Bangladesh continues to be one of the major textile exporting countries, globally, after China and India.
The textile chemicals market in Bangladesh benefits from large-scale exports of knitted and woven garments from the country to international markets, including the U.S. and Europe. Growing demand for knitted and woven wear in these two markets has been surging the overall.