Scouring Agent Sector: Growth Drivers and Challenges
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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.4% |
|
Base Year Market Size (2024) |
USD 4.04 billion |
|
Forecast Year Market Size (2037) |
USD 8 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of scouring agent is estimated at USD 4.23 billion.
Scouring Agent Market size was valued at USD 4.04 billion in 2024 and is likely to cross USD 8 billion by 2037, registering more than 5.4% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is expected to hold largest revenue share by 2037, 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.
