Global Textile Finishing Chemicals Market - 2022-2029

Global Textile Finishing Chemicals Market - 2022-2029

Market Overview

The global textile finishing chemicals market reached US$ XX Million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2021-2029.

The process of treating textiles with a variety of chemicals to obtain desired functional and aesthetic features is known as chemical finishing. Chemical finishing of textiles is a type of textile finishing in which chemical chemicals are used rather than mechanical finishing. Textile finishing chemicals are chemicals that can change the qualities of fabrics that have been treated.

The type of technology utilized and the attributes needed in the final garments drive demand dynamics in the textile finishing chemicals industry, particularly in terms of fabric color fastness. Cross-linking chemicals have progressed significantly, particularly in nonwoven fabric applications.

Market Dynamics

The experienced growth in demand for textiles and home furnishing tends to act as a viable driver for the growth of the textile finishing chemicals market. However, the environmental effects of respective chemicals tend to cause severe restrain in the market's growth.

The enormous growth in the textile industry

Although, in the last few decades, the textile and garment sector has changed dramatically and a significant portion of the sector has shifted away from affluent countries such as U.S., Europe and Japan. Toward destinations such as China, South Asia and Southeast Asia, the global textile industry is witnessing a high rise in demand due to globalization, availability of higher disposable income and growing trends towards appearing aesthetically pleasing. However, the economic growth of the respective market is guided by the demand pattern, which shows a downturn in industrialized countries but substantial growth in China and India. For instance, China's export growth rate has already slowed, a trend that will see China lose some market share despite remaining the world's top exporter. The accessibility to low-cost labor and abundant raw materials are two of the most important factors that prompted the respective change.

Despite the paradigm shift in the textile industry, the demand and sales in the respective industry are conclusively surging. Since textile finishing chemicals are used in processes that alter the textile's optical, tactile, mechanical strength, or dirt-releasing qualities, the demand for these chemicals is also expected to grow enormously with the growing demand for textiles in the global market. As a result, it could be conclusively said that the textile industry's global growth could be considered a major driver for the global textile finishing chemicals market.

Growing environmental awareness and environmental concerns associated with textile finishing chemicals

The textile industry has been driven to a corner as public awareness and societal consciousness about the environment has grown. Along with technological advancements and changes in the textile finishing chemical industry, a significant escalation of environmental issues is witnessed due to the discharge of large amounts of chemical loads into the receiving environment.

The presence of sulfur, naphthol, vat dyes, nitrates, acetic acid and some auxiliary chemicals, such as copper, arsenic, lead, cadmium, mercury, nickel or cobalt and certain additives in textile finishing chemicals make their effluent very dangerous. Formaldehyde-based hazardous agents, chlorinated stain removers, hydrocarbon-based softeners and nonbiologically decaying poisonous compounds are other unpleasant substances leached into water from textile finishing chemicals. In addition to degrading water quality, such chemicals impart colors, boost turbidity, make the water appear and smell terrible and prevent sunlight from penetrating, which is essential for photosynthesis. As a result, the oxygen transport system at the air-water interface is disrupted, affecting marine life and water self-cleaning.

The increased unpredictability and difficulty in managing textile waste have fueled a never-ending search for efficient and financially viable alternative approaches. However, no effective approach for removing both the color and harmful effects of dyes released into the environment has been discovered. As a result, the growing environmental awareness and serious ecological problems associated with textile finishing chemicals could be considered a major restraint that could affect various market prospects of these chemicals.

COVID-19 Impact Analysis

The global textile finishing chemicals market is devastated by delays in the manufacture of textile finishing chemicals due to a scarcity of raw materials, skilled personnel and production disruptions in the manufacturing process, which industry lockdowns have hampered, as well as a demand for social isolation due to the COVID-19 pandemic. Furthermore, the COVID-19 outbreak-related lockout hampered the transportation of finished items, causing significant supply-demand disruptions in the market.

Nonetheless, because of the expected growth in the textile industry and the e-commerce sector, demand for textile finishing chemicals and textile finishing chemicals would be increased exponentially after the overall restrictions on trade and transport of finished products and raw materials were removed.

Segment Analysis

The global textile finishing chemicals market is classified based on type, process, product, application, chemical type and region.

The softening finishes dominate the by type segment of the market due to their ability to increase comfort and resistance of textile

The global textile finishing chemicals market is segmented into softening, repellent, wrinkle-free, coating and mothproofing finishes based on type. Softening finishes are expected to be the dominant and fastest-growing type of textile finishing chemical. Softeners produce a coating over the fibers, reducing fiber-to-fiber friction and increasing abrasion resistance. Additionally, greater mobility causes the fibers to lose their stiffness, allowing them to absorb and disperse mechanical stresses more effectively, lowering tear strength and pilling. The respective reasons enhance the usage of softening finishes in apparel and home textiles, increasing the overall expansion of textile finishing chemicals.

Geographical Analysis

Growth in the textile industry, urbanization and the presence of many manufacturers allow Asia-Pacific to dominate the regional segment of the market.

The dominance of the Asia-Pacific in the market is expected to be bolstered by an improved standard of living across the region and higher consumption of textiles for various applications. The soaring demand for a variety of products such as sports apparel and other leisure and sports products in various emerging countries and an expanding human population and rapid urbanization are all expected to boost the market. Further, the presence of a large number of manufacturing units in China is also predicted to provide a rapid growth prospect to textile finishing chemicals.

Competitive Landscape

The global textile finishing chemicals market is active and dynamic in terms of the number and strength of global and local manufacturers. The market is classed as fragmented due to a large number of competitors. Evonik Industries AG, Wacker Chemie AG, Rudolf GmbH, GIOVANNI BOZZETTO S.p.A, Akzo Nobel N.V., Kiri Industries Ltd, Covestro AG, Clariant, Bayer AG and Sumitomo Chemicals Co. Ltd. are some of the major competitors in the industry. Significant market stakeholders employ market tactics like mergers, acquisitions, product launches, contributions and collaborations to gain competitive advantages and recognition in their respective markets.

Evonik Industries AG

Overview: Evonik is a leading specialty chemicals company, active in over 100 countries globally. The company has segmented its business segments into the following major categories: nutrition & care, resource efficiency, performance materials and services. The company has production facilities in 27 countries located in Africa, Asia, Australia / Oceania, Europe, North America and South America.

Product Portfolio:
TEGOTEX MS 7510: The product is a polyether siloxane additive that gives fibers and fabrics a hydrophilic finish as well as good lubricity and sewability.
TEGOTEX RT 2033: The product is a polyamide modified siloxane in dispersion for a long-lasting repelling treatment for cotton and cotton blends that is free of fluorocarbons and flammable liquids.

Key Development:
Evonik Industries and The Bodo Möller Chemie Group will collaborate in East Africa on unique binders and additives for the paint and varnish, textile and leather finishing and printing inks sectors, beginning January 1, 2022. Kenya, Uganda, Tanzania, Rwanda and Burundi would be the first East African countries to benefit from the agreement for specialized chemicals.

Why Purchase the Report?
To visualize the global textile finishing chemicals market segmentation based on type, process, product, application, chemical type and region, as well as understand key commercial assets and players.
Identify commercial opportunities in the global textile finishing chemicals market by analyzing trends and co-development.
Excel data sheet with numerous data points of textile finishing chemicals market-level with four segments.
PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
Product mapping available as excel consisting of key products of all the major market players

The global textile finishing chemicals market report would provide approximately 73 tables, 75 figures and almost 180 pages.

Target Audience 2022
Textile Finishing Chemicals Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies
Distributors/ Suppliers