Dublin, Feb. 19, 2020 (GLOBE NEWSWIRE) -- The "Textile Finishing Chemicals Market by Type (Softening Finishes, Repellent Finishes, Wrinkle Free Finishes, Coating Finishes, Mothproofing Finishes), Process (Pad-Dry Cure Process, Exhaust Dyeing Process), Application , Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global textile finishing chemicals market size is expected to grow from USD 6.2 billion in 2019 to USD 8.2 billion by 2024, at a CAGR of 5.5% during the forecast period.
It is driven by various factors, such as high demand from the technical textile and home textile applications. The growth of these applications is likely to propel the market. However, stringent environmental regulations regarding the disposal of textile finishing effluents are likely to hinder the growth of the market.
This report covers the global textile finishing chemicals market based on type, process, application, and region. The study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
The softening finishes type segment is estimated to drive the global textile finishing market during the forecast period
The global textile finishing chemicals market has been divided into 6 major types - softening finishes, repellent finishes, wrinkle-free finishes, coating finishes, mothproofing finishes, and others. The softening finishes segment is projected to be the largest and the fastest-growing type of textile finishing chemicals, globally during the forecast period.
Softening finishes are commonly used because they assist textiles to attain softness, smoothness, flexibility, superior drape, and elastic properties. Moreover, softening finishes provides a refreshing fragrance as well as reduces the danger of germ invasion. These finishes reduce the wear and tear of the apparel and also provide shape retention, which further fuels the demand for textile softener finishes in the market. The growth is mainly attributed to the increasing use of softening finishes in the clothing textiles and home textiles.
The pad-dry cure process segment is estimated to drive the market during the forecast period
Based on the process, the textile finishing chemicals market has been segmented into three types -pad-dry cure process, exhaust dyeing process, and others. The pad-dry cure process is projected to be the largest and the fastest-growing process in the textile finishing chemicals market during the forecast period. It is a continuous high-speed process that saves time and cost. Also, this process can be used on all kinds of textiles and on a variety of finishing chemicals. Thus this process is the most common process of application for textile finishing chemicals.
The technical textile application is projected to register the highest CAGR during the forecast period
On the basis of application, the textile finishing chemicals market can be divided into four major types - clothing textile, home textile, technical textile, and others. The technical textile application is projected to be the fastest-growing application for textile finishing chemicals market during the forecast period. These textiles possess unique and special characteristics.
Technical textiles are largely used in non-aesthetic applications such as transportation, automotive, medical & personal hygiene, industrial, packaging and sports. Technical textiles provide protection; the demand for protective clothing has increased not only because of industrialization but also because of the increased level of awareness of health & safety and hygiene. All these factors are boosting the growth of technical textile applications in the textile finishing chemical market.
The textile finishing chemicals market in APAC is expected to record the highest growth during the forecast period
APAC is projected to be the largest and the fastest-growing region for textile finishing chemicals market, globally during the forecast period. The emerging economies of APAC, such as China, India, Bangladesh, Vietnam, and Indonesia, play a major role in the growth of the textile finishing chemicals market.
The expansion of the textile industry and the rising awareness of consumers toward fashion and quality apparel will drive the market of this region during the forecast period. Moreover, there is increasing competition among emerging markets such as Vietnam, Indonesia, and Bangladesh. The textile finishing chemical market in APAC is projected to register the highest CAGR due to the growing economy, increasing textile exports, the presence of huge textile manufacturers, and low labor costs.
The textile finishing chemicals market comprises major solution providers, such as Huntsman Corporation (US), Wacker Chemie AG (Germany), The Dow Chemical Company (US), BASF (Germany), Archroma (Switzerland), Evonik Industries (Germany), Dupont (US), Solvay SA (Belgium), Tanatex Chemicals B.V (Netherlands), and Dystar Singapore PTE Ltd. (Singapore). The study includes an in-depth competitive analysis of these key players in the textile finishing chemicals market, with their company profiles, recent developments, and key market strategies.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Fabric Finishing Chemicals Market
4.2 Fabric Finishing Chemicals Market, By Type
4.3 Fabric Finishing Chemicals Market, By Type and Region
4.4 Fabric Finishing Chemicals Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Technical Fabrics
5.2.1.2 Increasing Demand for Clothing and Home Furnishing
5.2.2 Restraints
5.2.2.1 Stringent Regulations on the Disposal of Fabric Finishing Effluents
5.2.3 Opportunities
5.2.3.1 Growing Adoption of Eco-Friendly Fabric Finishes for Textile Manufacturing
5.2.4 Challenges
5.2.4.1 Exposure to Toxic Chemicals
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.3.6 Macro Economic Indicators
5.3.6.1 Introduction
5.3.6.2 Trends and Forecast in the Construction Industry
6 Fabric Finishing Chemicals Market, By Type
6.1 Introduction
6.2 Softening Finishes
6.2.1 Improved Flexibility and Elasticity of Fabric Increasing the Demand for Softening Finishes
6.3 Repellent Finishes
6.3.1 Repellent Finishes Provide Stain Repellency and Release in a Wide Range of Fabrics
6.4 Wrinkle-Free Finishes
6.4.1 High Demand in Cotton Fabric Industry Boosts the Demand for Wrinkle-Free Finishes
6.5 Coating Finishes
6.5.1 Increasng Demand From the Technical Textile Application to Drive the Segment
6.6 Mothproofing Finishes
6.6.1 Growing Awareness Regarding Fabric Hygiene Spuring the Demand for Mothproofing Finishes
6.7 Others
7 Fabric Finishing Chemicals Market, By Process
7.1 Introduction
7.2 Pad-Dry Cure Process
7.2.1 Use for Applying A Variety of Finishing Chemicals is Driving the Segment
7.3 Exhaust Dyeing Process
7.3.1 Applicability of the Process on Both Natural and Synthetic Resulting in High Use of the Process
7.4 Others
8 Fabric Finishing Chemicals Market, By Application
8.1 Introduction
8.2 Clothing Fabric
8.2.1 Dynamic Fashion Trends, Increasing Disposable Income, and Improving Living Standards to Drive the Demand for Clothing Fabric
8.3 Home Fabric
8.3.1 Growing Residential and Commercial Constructions Boosting the Home Fabric Application
8.4 Technical Fabric
8.4.1 Rapid Technological Development and Increasing Purchasing Power of People Resulting in High Demand for Technical Fabric
8.5 Others
9 Fabric Finishing Chemicals Market, By Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 Shift From Traditional Low-Value Fabric to High-Value Fabric Products and High Demand for Technical Fabric to Boost the Market
9.2.2 India
9.2.2.1 Strong Domestic Demand, Increasing Disposable Income, and Changing Lifestyle to Drive the Market
9.2.3 Bangladesh
9.2.3.1 Increasing Demand for Clothing Fabrics and Availability of Cheap Labor are Positively Influencing the Market
9.2.4 Vietnam
9.2.4.1 Growing Demand for Low Labor Cost and Increasing Apparel Exports to Boost the Market
9.2.5 Indonesia
9.2.5.1 Robust Economic Growth, Rising Disposable Income, and Strong Government Initiatives to Drive the Fabric Finishing Chemicals Market
9.2.6 Rest of APAC
9.3 Europe
9.3.1 Italy
9.3.1.1 Technological Developments and Changing Consumer Preferences & Lifestyles to Drive the Market
9.3.2 Germany
9.3.2.1 Demand From Technical Fabric Application and Favorable Economic Conditions are Driving the Market
9.3.3 France
9.3.3.1 Increasing Use of Fabric Finishing Chemicals in the Clothing and Technical Fabric Application to Boost the Market
9.3.4 UK
9.3.4.1 Increasing Use of Fabric Finishing Chemicals Observed in Home and Clothing Fabric Applications
9.3.5 Spain
9.3.5.1 Clothing and Technical Fabric Applications to Drive the Market
9.3.6 Turkey
9.3.6.1 Increase in Production of Technical Fabric and the Presence of Numerous Fabric Educational & Research Institutes to Boost the Market
9.3.7 Belgium
9.3.7.1 Presence of Research Institutions Encouraging Technological Advancements in the Fabric Sector
9.3.8 Rest of Europe
9.4 North America
9.4.1 US
9.4.1.1 Favorable Demographics, Growing Disposable Income, and Increasing Penetration of E-Commerce Facilities to Drive the Market
9.4.2 Mexico
9.4.2.1 Growing Demand for Durable and Comfortable Clothing Fabric in the Country to Influence the Market
9.4.3 Canada
9.4.3.1 Rising Disposable Income to Boost the Demand for Fabric Finishing Chemicals in the Country
9.5 South America
9.5.1 Brazil
9.5.1.1 Increase in Customer Spending and Decline in Inflation Boosts the Textile Industry in the Country
9.5.2 Argentina
9.5.2.1 Increasing Demand for Fashionable Clothes Helps Fabric Finishing Industry to Grow
9.5.3 Rest of South America
9.6 Middle East & Africa
9.6.1 UAE
9.6.1.1 Growing Demand for Fashion Makes Clothing Fabric the Largest Used Application in the Country
9.6.2 Saudi Arabia
9.6.2.1 Growing Population and Increasing Purchasing Power Boost the Demand for Fabric Finishing Chemicals in the Country
9.6.3 Egypt
9.6.3.1 New Investments in R&D Activities and Adoption of Modern Technologies to Boost the Market
9.6.4 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Scenario
10.3.1 Expansions
10.3.2 Acquisitions
10.3.3 Agreements & Joint Ventures
10.3.4 New Product Launches/Developments
11 Company Profiles
11.1 Huntsman Corporation
11.2 Wacker Chemie AG
11.3 The Dow Chemical Company
11.4 BASF
11.5 Archroma
11.6 Evonik Industries AG
11.7 DuPont
11.8 Solvay
11.9 Tanatex Chemicals
11.10 Dystar Singapore Pte. Ltd.
11.11 Rudolf GmbH
11.12 Bozzetto Group
11.13 Other Company Profiles
11.13.1 Celanese Corporation
11.13.2 ORA Chem
11.13.3 Ethox Chemicals
11.13.4 Chungyo Chemicals
11.13.5 Resil Chemicals
11.13.6 CHT Group
11.13.7 Omnova Solutions
11.13.8 Croda International PLC
11.13.9 The Chemours Company
11.13.10 The Seydel Companies, Inc.
11.13.11 Fineotex Chemical Limited
11.13.12 HT Fine Chemicals Co. Ltd
11.13.13 Clariant AG
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