USD 3.7 billion
Report ID:
SQMIG20B2022 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
Global Functional Textile Finishing Agents Market size was valued at USD 3.7 billion in 2021 and is poised to grow from USD 3.9 billion in 2022 to USD 5.89 billion by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).
The global functional textile finishing agents market has been experiencing significant growth in recent years, driven by the increasing demand for textiles with enhanced performance and functionality. Functional textile finishing agents are chemical substances applied to textiles to provide desired properties such as antimicrobial, flame retardancy, water repellency, wrinkle resistance, UV protection, and more. These agents play a crucial role in improving the durability, comfort, and overall quality of textiles. One of the key drivers of the global Functional Textile Finishing Agents market is the growing awareness among consumers regarding the benefits of functional textiles. With changing lifestyles and increasing emphasis on health and safety, consumers are seeking textiles that offer additional features beyond basic aesthetics. This trend has led to a surge in demand for functional finishing agents across various industries, including apparel, home textiles, and technical textiles. The apparel industry holds a significant share in the market, as functional finishing agents are extensively used to enhance the performance of clothing. Consumers are increasingly demanding textiles with properties like antimicrobial and moisture-wicking, as they provide hygiene and comfort. Additionally, the rise in sports and outdoor activities has fueled the demand for textiles with UV protection and quick-drying properties, further driving the market growth. The home textiles segment is also witnessing substantial growth, driven by the increasing focus on creating a comfortable and healthy living environment. Water repellent agents are in high demand for bedding, upholstery, and curtains, as they offer protection against spills and stains. Flame retardant agents are widely used in carpets and curtains to improve safety measures.
Global Market Size
USD 3.7 billion
Largest Segment
Antimicrobial Agents
Fastest Growth
Antimicrobial Agents
Growth Rate
5.3% CAGR
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The global functional textile finishing agents market is segmented based on type, application, and region. Based on type, the market can be segmented into Antimicrobial Agents, Flame Retardant Agents, Water Repellent Agents, Wrinkle-Free Agents and UV Absorbers. Based on application, the market is segmented into Apparel, Home Textiles, Technical Textiles and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Among the types of functional textile finishing agents, the dominant category in the global market is Antimicrobial Agents. These agents are widely used to impart antimicrobial properties to textiles, preventing the growth of microorganisms. With the growing focus on hygiene and cleanliness, especially in industries such as healthcare and apparel, the demand for antimicrobial agents has witnessed significant growth, making it the most dominant type in the market.
In terms of the fastest-growing type, Water Repellent Agents have emerged as the frontrunners. These agents provide textiles with resistance to water, preventing water absorption and enhancing durability. The increasing demand for water-repellent textiles across various applications, such as outdoor apparel, sportswear, and home textiles, has propelled the growth of Water Repellent Agents in the market. Factors such as the rise in outdoor activities, changing consumer preferences, and the need for high-performance textiles have contributed to the rapid growth of this segment.
Analysis by Application
Among the applications of functional textile finishing agents, the dominant category in the global market is the Apparel segment. The apparel industry holds a significant share in the market due to the extensive use of functional finishing agents to enhance the performance and functionality of clothing. Consumers are increasingly seeking textiles with additional features such as antimicrobial properties, moisture-wicking, UV protection, and wrinkle resistance, driving the demand for functional finishing agents in the apparel sector.
In terms of the fastest-growing application, technical textiles have emerged as the frontrunners. Technical textiles are specialised textiles used in industries such as automotive, healthcare, sports, and aerospace, among others. The demand for functional textile finishing agents in technical textiles has been rapidly increasing due to their critical role in enhancing the performance, durability, and safety of these specialised textiles. Factors such as technological advancements, innovation in materials, and the growing need for high-performance textiles have contributed to the rapid growth of functional finishing agents in the technical textiles segment.
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In the global functional textile finishing agents market, the most dominant region is Asia Pacific. The region encompasses countries such as China, India, Japan, South Korea, and others, which have a significant presence in the textile industry. Asia Pacific has emerged as a manufacturing hub for textiles, driven by factors such as lower labour costs, favourable government policies, and a large consumer population. The region's dominance in the global market can be attributed to the high demand for functional textile finishing agents in various sectors, including apparel, home textiles, and technical textiles.
Regarding the fastest-growing region, North America takes the lead. The region, comprising the US and Canada, is experiencing robust growth in the market for functional textile finishing agents. Factors such as increasing consumer awareness about the benefits of functional textiles, stringent regulations on product quality and safety, and the presence of key industry players are contributing to the market's growth in North America. Moreover, the rising adoption of functional finishing agents in industries like healthcare, automotive, and sports is driving the demand for these agents in the region.
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Drivers
Increasing Applications in Various Industries
Restraints
Cost Considerations
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The global functional textile finishing agents market is highly competitive and characterised by the presence of numerous key players. These companies strive to gain a competitive edge by offering a wide range of functional finishing agents and innovative solutions to cater to the evolving needs of the textile industry. The competitive landscape is shaped by factors such as product portfolio, research and development capabilities, technological advancements, and regional presence.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global functional textile finishing agents market analysis, the ability of these agents to enhance textile properties, including antimicrobial, flame retardancy, water repellency, and wrinkle resistance, is driving their adoption in different applications. The report emphasises the expanding scope of functional textile finishing agents in response to evolving consumer preferences and the need for high-performance textiles. It highlights the significance of research and development activities undertaken by these companies to develop innovative functional finishing agents that meet industry requirements. The report also underscores the importance of strategic collaborations and partnerships to strengthen market presence and enhance product offerings. One of the notable trends discussed in the report is the increasing focus on sustainability in the functional textile finishing agents market. Companies are investing in eco-friendly and sustainable solutions, aligning with stringent regulations and growing consumer demand for environmentally responsible products. The report emphasises the development of biodegradable ingredients, sustainable manufacturing processes, and eco-friendly materials as key strategies employed by market players to address sustainability concerns. The report also examines the regional landscape of the global Functional Textile Finishing Agents Market, highlighting the dominant and fastest-growing regions. It provides insights into the market dynamics, growth opportunities, and challenges in each region. Additionally, the report discusses factors influencing market growth, such as technological advancements, market maturity, and emerging trends.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 3.7 billion |
Market size value in 2031 | USD 5.89 billion |
Growth Rate | 5.3% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Functional Textile Finishing Agents Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Functional Textile Finishing Agents Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Functional Textile Finishing Agents Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Functional Textile Finishing Agents Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG20B2022