Growing at an estimated CAGR of 3.7 per cent from 2014 to 2020, Global technical textile chemicals demand was 1,646.6 kilo tons in 2013 and is expected to reach 2,124.5 kilo tons by 2020. Main reason for the growth of technical textile market is the growing industrial growth rate in China, India, Russia and Brazil. Transtech is the biggest segment which accounted for 25.1 per cent of total market volume in 2013 while Geotech is expected to touch the highest growth rate of 6.4 per cent from 2014 to 2020. A new study by Grand View Research, Inc. claims that Asia Pacific emerged as the leading regional market for technical textile chemicals and accounted for over 55per cent of total market volume in 2013. Simultaneously European technical textile chemicals market is expected to exceed a market worth US $ 750 million by 2020, growing at a CAGR of 3.7 per cent from 2014 to 2020
