ID: MRFR/CnM/6589-HCR | February 2021 | Region: Global | 160 pages
Functional textiles have particular physical and chemical properties in addition to the integral properties of general textiles or fabrics. The demand for traditional textile products from natural as well as synthetic fibers such as cotton, wool, silk, and polyester is less for aesthetic, comfort, and protective purposes in the end-use industries. Functional fabrics that possess antibacterial, anti-wrinkle, antistatic, water repellency, and other special properties, which are increasing their popularity in the textile industry. The textile finishing process is a series of processing operations applied to the fabrics to enhance their appearance and handling and functional properties such as resistance to water, UV, chemicals, fire (flame), and odor and it softens the fabric, improves color deepening. These finishes change the internal performance properties of the fabric, thereby correcting the deficiencies in the textile or fabricd.
In 2018, the global functional textile finishing agents market was valued at over USD 3.5 billion and is projected to register a moderate growth with a CAGR of over 5.2% during the forecast period, 2019–2027. The increasing use of functional textiles in the production of protective textiles, sportswear, industrial textiles, medical textiles, household textiles, and upholstery is expected to boost the demand for textile finishing agents in the coming years. Likewise, with the booming textile industry in Asia-Pacific and the Middle East & Africa on account of the availability of favorable macroeconomic conditions, skilled and low-cost labor, and abundant availability of natural resources are further expected to boost demand for functional textile finishing agents in the textile industry in these regions. Asia-Pacific is the largest consumer of the product globally, hence the rising product demand in the region is expected to favor the global market growth in the years to follow.
Furthermore, the growing adoption of the eco-friendly bio-based agents in textile finishing applications is likely to propel the market growth during the forecast period.
Some of the leading players in the global functional textile finishing agents market are Huntsman International LLC (US), Zschimmer & Schwarz GmbH (Germany), Rudolf GmbH (Germany), CHT Group (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), Sarex (India), NICCA CHEMICAL CO., LTD (Japan), Nano Tech Chemical Brothers Private Limited (India), and Zydex Industries (India).
Global Functional Textile Finishing Agents Market Share, by Product, 2019 (%)
Source: MRFR Analysis
The major regional markets studied for functional textile finishing agents are North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest share in 2018, accounting for over 50% share. The healthy growth of the textile industry in the region, coupled with the growing adoption of industrial textiles is expected to be the major driving factor for the growth of the regional market. The growth of the major end-use industries that use functional textiles, including the healthcare, automotive, protective clothing, personal care, and consumer goods, is further expected to propel the growth of the regional market in the coming years.
The Middle East & Africa is expected to be the other lucrative market for functional textile finishing agents owing to the high growth potential exhibited by the African economies, including Turkey, Egypt, and South Africa, on account of the growing textile sector in these countries.
The North American and European markets are expected to witness moderate growth during the forecast period. Stringent regulations pertaining to the safety of industrial workers is one of the key factors driving the demand for protective clothing and hence for flame retardant and anti-static agents, in these regions.
The global functional textile finishing agents market has been segmented by product, processing method, and region.
Based on product, the global functional textile finishing agents market has been classified into repellents, flame retardant, hydrophilic agent, anti-static agent, softening agent, anti-bacterial agent, anti-slip agent, UV protective, and others.
By processing method, the global functional textile finishing agents market has been categorized into continuous processing, batch treatment, coating, and others.
The global functional textile finishing agents market has been studied with respect to five key regions—Asia-Pacific, Latin America, North America, Europe, and the Middle East & Africa.
Frequently Asked Questions (FAQ) :
The functional textile finishing agents market projected to grow at a 5% CAGR between 2019-2024.
The functional textile finishing agents market is predicted to touch USD 3.5 billion million by 2024.
The Asia Pacific is expected to lead the functional textile finishing agents market.
Growing demand for functional textiles and growing textile industry is adding market growth.
Specific strategies that industry players have incorporated to create a niche in the functional textile finishing agents market include collaborations, mergers, and product launches.