According to the report “North America Textile Chemicals Market 2020-2026” by ResearchAndMarkets.com, the North American textile chemicals market is anticipated to grow at a CAGR of 3.1% during the forecast period.
High apparel demand, increasing environmental concerns and favorable government regulations and trade agreements are the primary drivers of the textile sector in the region, which directly induces the demand for textile chemicals. Strong economy has been one of the major drivers for the boom in the textile industry in the U.S.
The North American textile industry ranks third, after China and India, in the global market. It consists of yarns and fabric made from raw materials, such as cotton and manmade fibers. The textile industry in the region, overall, has shown a positive trend due to the growing technical textile demand from various end-user industries, such as automotive and industrial applications. The demand for technical textiles is expected to remain high in the coming years due to growth in the global economy, which will result in an increased demand for textile chemicals in the region.