Textile Finishing Agents Market Share, Size, Trends, Industry Analysis Report, By Type (Aesthetic and Functional); By Product; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM3297
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global textile finishing agents market was valued at USD 2.59 billion in 2023 and is expected to grow at a CAGR of 5.0% during the forecast period. The rise in consumer disposable income and extensive growth in the chemical manufacturing sector mainly in developing nations like China, India, South Korea, and Brazil coupled with the change in fashion trends and high demand for smooth fabrics, has accelerated the consumption of these agents across the globe and contributing positively towards the market growth.
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Moreover, the growing implementation of research & development activities and surging modernization trends and high technological advancements including nanotechnology is creating significant growth opportunities for the market. For instance, in April 2022, Cosmo Specialty, introduced its new “Wetofast” solution to maintain the quality of the fabric. It includes 3 new products Wetofast GN, Wetofast LOR, & Wetofast LR that help in removing oils, waxes, & greasy impurities more effectively.
Furtherly, the continuously growing migration of the rural population to urban areas for various purposes including better areas for education, better transportation, and healthcare facilities, has also resulted in a rapid surge of consumption of apparel like shoes and clothes, as they have become very essential for products used by young generation all over the world. Additionally, there has been a significant rise in the need for these agents to add more characteristics like fragrance & water repellant properties.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the textile finishing agents market. The extensive rise in the spread of deadly coronavirus across the globe has forced governments of many countries to impose several stringent regulations on trade activities and nationwide lockdowns, due to which many manufacturing facilities of these agents and textile sector were temporarily closed and high disruptions in the global supply chains, which directly affected the sales of the product.
Industry Dynamics
Growth Drivers
The extensively rising demand for clothing and home furnishing and continuous rise in the demand for product from the rapidly rising apparel industry along with the increased penetration of organized retail and rising focus on major market players on the development of apparel industries to meet the growing consumer demands from all over the world, which is likely to fuel the growth of the textile finishing agents market over the anticipated period.
Furthermore, textile chemical manufacturers worldwide are concentrating on the innovations of various new products with smart features and characteristics, and implementation on improving the mechanical properties of cotton fabrics by using nanocomposite coating is also anticipated to have a positive impact on the global market.
Report Segmentation
The market is primarily segmented based on type, product, application, and region.
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By Type |
By Product |
By Application |
By Region |
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Functional segment dominated the market in 2022
Functional segment dominated the global market with significant revenue share and is expected to grow at substantial growth rate during the forecast period. The growth of the segment can be highly attributed to high strength and durability of these product types. Moreover, the growing popularity of functional finishing agents to improve the overall performance of the textile products and gaining traction to enhance the functionality and performance of umbrella as well, which in turn, propelling the demand and growth of the market.
The aesthetic segment is expected to grow at significant growth rate over the anticipated period, which is highly attributable to its ability to influence the drape, texture, luster, surface, and hand feel of various types of fabric. In addition, the technique is being widely used to improve the aesthetics in several textile such as blending, texturizing, zari, brocade, and embroidery, that has fueled the product applications and resulting in high demand across the globe.
Softeners segment held the significant market revenue share in 2022
Softeners segment held the largest market revenue share, on account of growing prevalence of softeners to remove the electrostatic charge generated during the manufacturing and use of the fabrics and these types of products are being applied on all textile products, on which the frictional contracts might cause charge accumulation. In the recent years, softeners have become very important and crucial in textile processing, as now almost every single piece leaving a textile mill is being treated with softeners to achieve a soft handle and enhance the wearability.
The water repellent segment is expected to expand at highest growth rate over the coming years, which is largely attributable to its widespread utilization in the manufacturing of variety of electronic goods, clothes, and several other consumer goods along with the increased adoption of the product to maintain the breathability of fabrics and maintains air permeability.
Technical textiles segment is expected to witness highest growth
Technical textiles segment is anticipated to grow at a fastest CAGR during the anticipated period, which is mainly accelerated by an increase in the number of public infrastructure development projects by government of several major countries including US, UK, China, and India along with the increasing utilization of the product in ProTech applications as flame retardants. They are also being widely used in the agriculture, automotive, and packaging applications to make products pollen & dust free, UV protected, soft-textured, and soil-resistant which is propelling the segment market.
The apparel segment led the industry market with healthy revenue share, mainly due to rising product demand in the production of fabrics that are being highly used for developing clothes, blankets, footwear, and bedsheets. The rapidly increasing acceptance of various types of apparel and changing fashion requirements across the globe, are some other factors fueling the growth of the market extensively.
Asia Pacific region accounted for the largest market share in 2022
Asia Pacific region accounted for largest market share, and is projected to maintain its dominance throughout the anticipated period. The growth of the regional market can be attributed to growing modernization of the manufacturing processes of textile and high focus on key manufacturers in the region on reorganizing their business operation and portfolio, raising investments to develop specialized products, and continuous expansion of their production capacity. In addition, several macroeconomic reasons like rapid urbanization and growth in the population burden in countries like China and India are further anticipated to fuel the demand and stimulate the growth.
Europe region is anticipated to grow at considerable growth rate over the course of study period, owing to presence of various supportive policies in countries like Spain, Germany, Italy, and France, continuous employment creation, and surge in the wages. The U.K. is the home to various famous apparel brands like Ed Hardy and Alexander McQueen and consumer are preferring innovative fabrics with rich feel are also driving the regional market growth.
Competitive Insight
Some of the major players operating in the global textile finishing agents market include Fineotex Chemical, Huntsman International, Resil Chemical, Zydex Group, Lubrizol Corporation, Kemin Industries, Evonik Industries, Organic Dyes, DyStar Singapore, Synthomer, Dow Chemical, AB Enzymes, Sumitomo Chemicals, Nicca Chemical, Rudolf, and Tanatex Chemicals.
Recent Developments
- In June 2022, Cosmo Specialty introduced new finishing textile auxiliary, which enables softening effect on all types of textiles. Product is recommended for several fabric type as it helps in imparting surface smoothness.
- In February 2022, ACATEL has entered a strategic partnership with the FiberTrace and ‘Good Earth Cotton’ to introduce new knits & fabrics. This partnership helped product to be considered active agent of the positive environmental change.
Textile Finishing Agents Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 2.71 billion |
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Revenue forecast in 2032 |
USD 4.01 billion |
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CAGR |
5.0% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Type, By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Fineotex Chemical Ltd., Huntsman International LLC, Resil Chemical Pvt. Ltd., Zydex Group, Lubrizol Corporation, Kemin Industries Inc., Evonik Industries, Organic Dyes and Pigments LLC, DyStar Singapore Pte. Ltd., Synthomer Plc, Dow Chemical, AB Enzymes, Sumitomo Chemicals Co. Ltd., Nicca Chemical Co. Ltd., Rudolf GmbH, and Tanatex Chemicals B.V. |
FAQ's
key companies in textile finishing agents market are Fineotex Chemical, Huntsman International, Resil Chemical, Zydex Group, Lubrizol Corporation, Kemin Industries, Evonik Industries, Organic Dyes.
The global textile finishing agents market expected to grow at a CAGR of 5.0% during the forecast period.
The textile finishing agents market report covering key segments are type, product, application, and region.
key driving factors in textile finishing agents market are growing implementation on the research & development activities.
The global textile finishing agents market size is expected to reach USD 4.01 billion by 2032.
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