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U.S. textile chemicals market to surpass $2 billion by 2020

June 2nd, 2015 / By: / Industry News

Anticipated growth in textile manufacturing is expected to spur U.S. textile-chemicals revenue past $2 billion by 2020, according to a report by TechSci Research, a Canadian market research firm.

The report, “United States Textile Chemicals Market Forecast and Opportunities, 2020,” notes the chemicals market is broadly classified into two different segments: auxiliaries and colorants. Because of rising labor costs internationally, the report says, domestic textile manufacturers are shifting their focus on local production, thereby reviving the American textile sector. The leading manufacturers of textile chemicals operating in the United States are DuPont, DOW Chemicals and BASF.

The currently depressed market is expected to recover during the forecast period with an increasing focus on domestic production, which in turn is expected to fuel demand for textile chemicals. In addition, increasing consumer preference toward domestically manufactured goods, due to their high quality and ongoing promotion of the “Made in USA” campaign, is expected to have a positive impact on the market.

Exports of textile products from the United States are also increasing due to growing demand for superior quality products in the international markets.