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, moth proofing 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.
Reference: https://www.globenewswire.com/news-release/2020/02/19/1986906/0/en/Global-Textile-Finishing-Chemicals-Market-2020-2024-Growing-Adoption-of-Eco-Friendly-Fabric-Finishes-for-Textile-Manufacturing-Presents-Opportunities.html
