Functional Textile Finishing Agents Market is Surging Demand and is Likely to Fuel the Growth Near Future :

Pune, India, June 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Functional Textile Finishing Agents Market.

Market Overview

The global functional textile finishing agents market is projected to be valued over USD 4.5 Billion by the end of 2024 at a CAGR of over 5% during the forecast period. The key factor favoring market growth is the growing popularity for functional textiles in the automotive, healthcare, sports & leisure, and consumer goods industries. With the increasing demand for functional textiles, the demand for finishing agents for these textiles is likely to rise, thus driving the market. Moreover, the rising consumer  awareness for a hygienic lifestyle, the necessity for a wide range of antimicrobial textile products is increasing. This is likely to be another prominent factor favoring market growth. The healthy growth of the textile industry in Asia-Pacific is further expected to boost the demand for functional textile finishing agents in the coming years.

Market Segmentation

The global functional textile finishing agents market has been categorized on the basis of product and processing method.

By product, the global market has been divided into repellents, flame retardant, hydrophilic agent, anti-static agent, softening agent, anti-bacterial agent, anti-slip agent, UV protective, and others. The repellents segment held the largest market share in 2018 owing to the widespread use of finishing agents such as oil repellents, water repellents, and dirt & stain repellents. The demand for fluoride-free water repellent agents is expected to increase in the coming years owing to the declaration by the global apparel brands to abolish the use of fluorine type water repellent agents by 2020. The flame retardant segment is estimated to be the other major product segment of the market during the forecast period, owing to the increasing concerns over worker safety in the industries.  

On the basis of the processing method, the global functional textile finishing agents market has been classified into continuous processing, batch treatment, coating, and others. The continuous processing method is expected to be the leading segment during the review period. This is mainly attributed to fast processability and precision achieved by use of this processing method.

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Competitive Analysis

The prominent players in the global functional textile finishing agents market are NICCA CHEMICAL CO., LTD (Japan), Huntsman International LLC (US), CHT Group (Germany), Rudolf GmbH (Germany), Zschimmer & Schwarz GmbH (Germany), Wacker Chemie AG (Germany), Evonik Industries AG (Germany), Tepar Tekstil Sanayi ve Ticaret A.S (Turkey), DAIKIN INDUSTRIES, Ltd (Japan), Tanatex Chemicals B.V. (The Netherlands), Zydex Industries (India), Sarex (India), and Nano Tech Chemical Brothers Private Limited (India).