Bangladesh Textile Chemicals Market to Grow at 7% CAGR Till 2019, Says TechSci Research
Growing global demand for readymade garments, specialty finishing chemicals and dark textile shades to driving textile chemicals consumption in Bangladesh
According to a recently published report by TechSci Research a research based global management consulting firm, "Bangladesh Textile Chemicals Market Forecast & Opportunities, 2019", the country's textile chemicals market is forecast to grow at a CAGR of around 7% during 2014-19. 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 majorly 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 US and EU. Growing demand for knitted and woven wear in these two markets has been surging the overall consumption of textile chemicals in Bangladesh. The country is also exploring various other export markets, which is expected to further boost the demand for textile chemicals in Bangladesh over the forecast period. Leading textile brands such as Walmart, Mango and GAP manufacture their readymade garments in the country, which continues to benefit the market for high performance textile chemicals.
"Bangladesh textile chemicals market is expected to exhibit healthy growth over the next five years. Major factors that would boost textile chemicals market in Bangladesh include the country's growing textile industry, rising readymade garment exports to global markets, and growing demand for multi-functionality and specialty chemicals in the country", said Mrs. Rishi Koul, Consultant with TechSci Research.
"Bangladesh Textile Chemicals Market Forecast & Opportunities, 2019" has analyzed the potential of the textile chemicals market in Bangladesh and provides statistics and information on market size, share and latest trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with the essential drivers and key challenges faced by the Bangladesh textile chemicals market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research by press release