Scouring Agent Market Trends

Growth Drivers

Expansion in the Production of Textile Fibers – According to recent data, the worldwide production volume of textile fibers rose from 98 thousand metric tons in 2017 to 108 thousand metric ton in 2020.
Increased Spending in R&D Activities – As per the World Bank, the Research and Development expenditure accounted 2.63% of total GDP in 2020. This was a rise from 2.13% of total GDP in 2017.
High Expenditure on Advanced Materials and Chemicals – According to the recent statistics, the global research and development expenditure spending on advanced materials and chemicals was accounted for USD 41 billion in 2019.
Engagement of Population in the Field of Material Science – As per statistics by the U.S. Bureau of Labor Statistics, as of May 2019, there were active 6,690 material scientists employed in the United States. Further, the employment rate of chemists and materials scientists in the region is anticipated to grow by 6% in the period from 2020 to 2030. Also, around 9,100 openings for chemists and materials scientists are projected each year, over the decade.

Challenges

Discharge of High Amounts of Chemical Loads
High Consumption of Water and Harmful Chemicals
Stringent Rules Regarding Environment Protection

Scouring Agent Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	5.4%
Base Year Market Size (2023)	USD 3.38 billion
Forecast Year Market Size (2036)	USD 7.59 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of scouring agent is assessed at USD 4 billion.

Scouring Agent Market size was valued at USD 3.83 billion in 2023 and is likely to reach USD 7.59 billion by 2036, registering around 5.4% CAGR during the forecast period i.e., between 2024-2036. The expansion of textile industry and the rise in production of textile fibers will boost the market growth.

Asia Pacific industry is anticipated to dominate majority revenue share by 2036, impelled by rising population along with their increasing demand and manufacturing of textiles.

The major players in the market are The Dow Chemical Company, QuoteMedia, Inc., Evonik Industries AG, Viswaat Chemicals Limited, HT Fine Chemical Co., Ltd, Tata Chemicals Limited, Archroma Management GmbH, Fineotex Chemical Limited, SAREX, Rung International, Huntsman International LLC and others.

Scouring Agent Market Trends