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Market Analysis
The Functional Textile Finishing Agents Market is projected to touch USD 4.5 billion at a 5% CAGR between 2017-2024, reveals the new Market Research Future (MRFR) report. Functional textile finishing agents, simply put, are used for improving the properties of fabrics along with imparting special functions.
Key Players
Notable players profiled in the global functional textile finishing agents market report include Zydex Industries (India), Nano Tech Chemical Brothers Private Limited (India), NICCA CHEMICAL CO., LTD (Japan), Sarex (India), Tanatex Chemicals B.V. (The Netherlands), DAIKIN INDUSTRIES, Ltd (Japan), Tepar Tekstil Sanayi ve Ticaret A.S (Turkey), Evonik Industries AG (Germany), Wacker Chemie AG (Germany), CHT Group (Germany), Rudolf GmbH (Germany), Zschimmer & Schwarz GmbH (Germany), and Huntsman International LLC (US).
Numerous factors are adding to theglobal functional textile finishing agents market Growth. Such factors, according to the recent MRFR report, include increasing use of environment-friendly bio-based agents in various textile finishing applications, booming textile industry, and increasing use in the production of upholstery, household textiles, medical textiles, industrial textiles, sportswear, and protective textiles.
On the contrary, rising strict environmental guidelines pertaining to the harmful effects of chemicals and adverse impact on human health may limit the global functional textile finishing agents market growth over the forecast period.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global functional textile finishing agents market based on the processing method and product.
By product, the functional textile finishing agents market is segmented into UV protective, anti-slip agent, anti-bacterial agent, softening agent, anti-static agent, hydrophilic agent, flame-retardant, and repellents. Of these, repellents will lead the market over the forecast period for its increasing use in the form of dirt and stain repellents, water repellents, and oil repellents. This will be followed by the flame-retardant segment for the rising concerns about workers' safety in industries.
By the processing method, the Functional Textile Finishing Agents Market is segmented into coating, batch treatment, continuous processing, and others. Of these, continuous processing will dominate the market over the forecast period for the precision and fast processability attained through this processing method.
Regional Analysis
By region, the global functional textile finishing agents market covers the growth opportunities and recent trends across Europe, North America, the Middle East & Africa (MEA), Latin America, and the Asia Pacific (APAC). Of these, the APAC region will dominate the market over the forecast period. Factors adding to the functional textile finishing agents market growth in the region include increasing use of industrial textiles, rapidly growing textile industry, and the growth of leading end use industries that use functional textiles such as consumer goods, personal care, protective clothing, automotive, and healthcare. The Asia Pacific is a hub for the textile industry with maximum textile production taking place here due to the easy accessibility of raw materials and less labor cost.
The global functional textile finishing agents market in North America is predicted to have healthy growth over the forecast period. Factors adding to the growth of the functional textile finishing agents market in the region include the region’s growing textile industry, and demand for enhanced & smart textiles from fashion, healthcare, and defense sectors.
The functional textile finishing agents market in Europe is predicted to have favorable growth over the forecast period for the presence of top industry players and the booming textile sector. Besides, strict regulations related to industrial workers' safety is boosting the demand for protective clothing, thus for anti-static and flame-retardant agents.
The market of functional textile finishing agents market in the MEA and Latin America is likely to possess notable growth during the forecast period for the rising influx of expats, increasing migration activities, and growing demand for functional textile finishing agents from textile industries.
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