The demand for textile chemicals in India, which stood at 323.52 thousand tonne in 2018, is projected to grow at a CAGR of 3.62 per cent to reach 487.63 thousand tonne by 2030.
Government initiatives like Powertex for fabric segment, Amended Technology Upgradation Fund Scheme (ATUFS) for all segments except spinning and setting up of integrated textile parks willfuel market growth in the country.
Moreover, the government has also revised the export rates under Merchandise Exports from India Scheme (MEIS) to 4 per cent. Exporters can also avail financial assistance under the Market Access Initiative (MAI) scheme. The government’s support, which is changing the lifestyles of the consumers by increasing their per capita income, is anticipated to drive the Indian demand for textile chemicals during the forecast period
Some of the major players operating in the country's textile chemicals market are Bodal Chemicals, Kiri Industries, Huntsman International (India), Archroma India, Fineotex Chemical, etc.
