Global Functional Textile Finishing Agents Market

Functional Textile Finishing Agents Market Size, Share, Growth Analysis, By Type(Antimicrobial Agents, Flame Retardant Agents), By Application(Apparel, Home Textiles) - Industry Forecast 2024-2031

Report ID: SQMIG20B2022 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

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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 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. 'Huntsman Corporation (US)', 'Archroma (Switzerland)', 'BASF SE (Germany)', 'Dow Chemical Company (US)', 'Lubrizol Corporation (US)', 'CHT Group (Germany)', 'Tanatex Chemicals (Netherlands)', 'DyStar Group (Singapore)', 'Pulcra Chemicals Group (Germany)', 'Bozzetto Group (Italy)', 'Zschimmer & Schwarz (Germany)', 'Evonik Industries AG (Germany)', 'Rudolf Group (Germany)', 'Wacker Chemie AG (Germany)', 'NICCA Chemical Co., Ltd. (Japan)', 'Sumitomo Chemical Co., Ltd. (Japan)', 'DCC PLC (Ireland)', 'HT Fine Chemical Co., Ltd. (China)', 'Zhejiang Ruico Advanced Materials Co., Ltd. (China)', 'Dymatic Chemicals, Inc. (Taiwan)'

The Functional Textile Finishing Agents market is witnessing increased adoption across diverse industries, including apparel, home textiles, automotive, healthcare, sports, and others. This surge in demand is driven by the unique benefits provided by functional finishing agents such as antimicrobial properties, flame retardancy, and water repellency, which cater to specific requirements in these industries.

Increasing Demand for Eco-friendly and Sustainable Solutions: As sustainability becomes a critical focus across industries, including textiles, there is a growing emphasis on developing functional finishing agents that are environmentally responsible throughout their lifecycle. This trend is driven by factors such as stricter regulations, consumer awareness, and a shift towards eco-conscious manufacturing practices.

In the 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 market can be attributed to the high demand for functional textile finishing agents in various sectors, including apparel, home textiles, and technical textiles.

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