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On the basis of fiber type, cotton segment have the relatively high volume share i.e. 25.4% in 2016 which is expected to increase to 25.6% by 2026 with CAGR of 3.6%. In terms of value, acrylic segment is expected to expand with relatively high CAGR of 5.1% over the forecast period and accounts for 9.2% in 2016 which is expected to increase to 9.5% by 2026. The textile industry in developing regions has witnessed rapid growth due to low labour costs and adequate infrastructure. This has increased demand for textile chemicals in the region. For Instance, in 2014, Asia Pacific accounted for approximately 53% of the global textile chemicals market. Moreover, the growth of textile colourants market in Asian countries such as Bangladesh, Vietnam, Indonesia and Cambodia is expected to register relatively high growth rate. The textile chemicals industry is fragmented, comprising several large and small players. The major players have well developed supply chain network in the region leading to strong supply and availability of textile chemicals at reasonable prices for end-users in the market. The major textile colourants companies have set-up their research and development facilities in regions including Asia Pacific, North America, and Western Europe.
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