Textile Finishing Agents Market Size Worth $3.8 Billion By 2030

Textile Finishing Agents Market Growth & Trends

The global textile finishing agents market size is expected to reach USD 3.8 billion by 2030, registering a CAGR of 5.1% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rapid changes in fashion trends and increased demand for home décor products. The increasing use of textile products in end-use industries, such as consumer goods, transportation, packing & shipping, and medical & healthcare applications among others, also supports the industry growth. The growth in individual purchasing power is attributed to the increasing education level and employability across the globe. Consumers are inclined towards following the trend regarding apparel and home décor items, which results in increased demand for textile products. These factors are expected to contribute to the industry's growth.

The rising consumption of different types of apparel worldwide has fueled their production over the years. The flexibility of online shopping, coupled with attractive sales offers, has been encouraging consumers to increasingly purchase apparel, such as clothes and footwear. Growing individual disposable income even in small countries is fueling the demand for different types of apparel. The Asia Pacific is characterized by the availability and procurement of raw materials, which are used in the production of various textile finishing agents. Several global manufacturers have set up their production units in the country due to cheap labor availability. Moreover, textile companies in the region are switching to intelligent manufacturing processes from labor-intensive manufacturing processes. This is anticipated to boost product manufacturing across the region, thereby positively impacting the overall industry growth in the coming years.

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Textile Finishing Agents Market Report Highlights

• Functional type is expected to be the fastest-growing segment during the forecast period due to the performance and functional properties, such as strength and durability, of textile products

• According to Yale University, about 400 textile companies had withdrawn their operations from Russia, as of March 2022. This has also influenced the supply of raw materials from Russia, as a result, the prices of the products were impacted

• The flame-retardant segment is estimated to register the fastest CAGR from 2022 to 2030 due to the growing utilization of these products in a wide variety of consumer products, such as furnishing (including foam, mattresses, curtains, and carpets) and electronic products (including laptops, computers, televisions, phones, and wires & cables)

• The technical textiles application segment is projected to record the fastest CAGR from 2022 to 2030 owing to the increased number of public infrastructure development projects being carried out by the governments of various emerging nations, such as India, China, and Japan

• Asia Pacific is projected to be the fastest-growing region during the forecast years due to the increasing product demand from the automobile industry coupled with rising usability of various textile finishing agents, such as oil, stain repellent, flame retardants, water repellent, used in automobile, industrial, and healthcare industries

Textile Finishing Agents Market Growth & Trends

Grand View Research has segmented the global textile finishing agents market based on type, product, application, and region:

Textile Finishing Agents Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Aesthetic

• Functional

Textile Finishing Agents Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Water Repellant

• Flame Retardant

• Softeners

• Antibacterial & Antimicrobial

• Fragrance Agents

• Others

Textile Finishing Agents Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Apparel

• Home Furnishing

• Technical Textiles

• Others

Textile Finishing Agents Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Turkey

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Indonesia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players of the Textile Finishing Agents Market

• Dow

• Fineotex Chemical Ltd.

• BASF SE

• Synthomer plc

• Huntsman International LLC

• Sarex

• Resil Chemicals Pvt. Ltd.

• Zydex Group

• DyStar Singapore Pte. Ltd.

• Lubrizol Corp.

• Archroma

• Kemin Industries Inc.

• BioTex Malaysia

• AB Enzymes

• Evonik Industries

• Organic Dyes and Pigments LLC