Market Trends of Sizing Agent Industry
This section covers the major market trends shaping the Sizing Agent Market according to our research experts:
Growing Demand from the Textile Manufacturing Industry
- Sizing agents are widely used in the manufacturing of textiles, and the studied market is expected to be the fastest-growing market during the forecast period.
- Sizing agents are used in the textile industry to protects yarns, like cotton, linen, and polyesters, to prevent breakage of yarn during weaving and reduce machinery downtime.
- Moreover, sizing agents help yarn withstand high mechanical stress during weaving. Sizing agents improve abrasive resistance and strength and reduce the hairiness of the yarns.
- However, natural sizing agents, such as starch, are insufficient for modern demand and high-performance looms. The increase in the use of synthetic sizing agents, like polyvinyl alcohol, carboxymethyl cellulose, and polyacrylates, to meet modern demands is expected to drive the market.
- As stated by the National Development and Reform Commission of China, domestic sales of apparel and knitwear stood at around USD 172.4 billion for the first 11 months of 2019, which showed an increase of about 3% year-on-year growth rate.
- The growing demand for apparel industry to fulfill the demands of growing population and increasing fashion trends are expected to drive the market for sizing agents in the textile manufacturing sector during the forecast period.
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The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for sizing agents during the forecast period, due to an increase in the demand from countries, like China and India.
- Sizing agents are used in the manufacturing of paper, to reduce water absorptivity and porosity, which increases the printability of paper, and the inks and paints remain true on the surface of the paper.
- In India, an increase in the use of paper bags and paper-based (paperboard) packaging to prevent environmental pollution is expected to drive the market for sizing agents in the paper industry.
- The increasing demand from the e-commerce and food delivery sectors is expected to drive the market. China's e-commerce market is dominated by Alibaba, whose market share is around 59%. The company's annual revenue in FY 2019 has seen 51% year-on-year growth and the growing e-commerce industry requires paper packaging.
- As per the Ministry of Textiles annual report 2018-2019, India's textile industry contributes 7% to industry output in value terms, 2% to India's GDP, and 15% to the country's export earnings.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for sizing agent in Asia-Pacific during the forecast period.
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