Overview and Scope
Textile finishing chemicals are a part of the textile finishing process that uses chemical substances to alter the chemical composition of the fabric. It is used to alter the final appearance of fabric, soften it, or improve certain aspects of its performance.
Sizing and Forecast
The textile finishing chemicals market size has grown strongly in recent years. It will grow from $8.01 billion in 2023 to $8.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to textile industry growth, demand for specialty fabrics, fashion and apparel trends, consumer preference for functional fabrics, performance enhancement, globalization of textile trade.
The textile finishing chemicals market size is expected to see strong growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to fashion customization, rise in athleisure wear, resilience against external factors, increasing demand in emerging markets, sustainable and eco-friendly solutions. Major trends in the forecast period include digital printing technologies, fashion customization, innovations in functional finishes, nano-finishing technologies, smart textiles and wearables, biodegradable and biocompatible chemicals..
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Segmentation & Regional Insights
The textile finishing chemicals market covered in this report is segmented –
1) By Type: Softening Finishes, Repellent Finishes, Wrinkle-Free Finishes, Coating Finishes, Mothproofing Finishes, Other Types
2) By Process: Pad-Dry Cure Process, Exhaust Dyeing Process, Other Process
3) By Application: Clothing Textile, Home Textile, Technical Textile, Other Applications
Asia-Pacific was the largest region in the textile finishing chemicals market in 2023. The regions covered in the textile finishing chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapid growth in apparel industries is expected to propel the growth of the textile finishing chemicals market going forward. The apparel industry is referred to as sector that manufactures clothing designed or intended to be worn by any individual. The apparel industry uses textile finishing chemicals in textile finishing processes such as cutting, washing, dyeing, coating, and sewing of fabrics to create desired apparel or accessories such as footwear, outerwear, pants, and tops. For instance, in May 2022, according to a report by the National Retail Federation, a US-based retail trade association that represents the retail industry, sales at clothing and clothing accessory stores in the U.S. increased by 11.2% from the previous year and a 0.8% increase from the previous month. Therefore, the rapid growth in apparel industries is driving the growth of the textile finishing chemicals market.
Key Industry Players
Major companies operating in the textile finishing chemicals market are adopting a strategic partnership approach, aiming for textile finishing performance optimization and resource conservation. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2022, Archroma, a Switzerland-based manufacturing company of textile finishing chemicals, announced a partnership with Baldwin Technology Company, Inc. The two firms want to assist textile producers with their development initiatives, intending to improve product safety, performance, and functionality while also increasing the efficiency and utilization of resources in the finishing application process. Archroma and Baldwin are working together on several projects that integrate Archroma’s most environmentally friendly product advancements with Baldwin’s Texcoat G4. Baldwin Technology Company, Inc. is a US-based company that specializes in process automation equipment.
The textile finishing chemicals market report table of contents includes:
1. Executive Summary
2. Textile Finishing Chemicals Market Characteristics
3. Textile Finishing Chemicals Market Trends And Strategies
4. Textile Finishing Chemicals Market – Macro Economic Scenario
5. Global Textile Finishing Chemicals Market Size and Growth
……
31. Global Textile Finishing Chemicals Market Competitive Benchmarking
32. Global Textile Finishing Chemicals Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Textile Finishing Chemicals Market
34. Textile Finishing Chemicals Market Future Outlook and Potential Analysis
35. Appendix
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