Functional Textile Finishing Agents Market - Forecast(2023 - 2028)

Functional Textile Finishing Agents Market Overview

Functional Textile Finishing Agents market is projected to grow at a CAGR of 5.6% and is estimated to reach USD$5.4 billion by the end of the forecast period of 2022-2027. Functional Textile Finishing Agents are used to change surface properties and enhance functions when it is applied to the fabric or textile. The Finishing Agents typically consist of epoxy polyether lateral chains and a water-soluble polysiloxane with polyether. They also have additional organic properties that are categorized into various usage like Flame Retardant, Antimicrobial/Anti-inflammatory, Wrinkle Resistant, Water Repellence and so on. They can be applied to both natural and synthetic textiles. The report coverage includes various segmentations in the Functional Textile Finishing Agents Market and Market landscape along with Market Drivers and Challenges.

COVID-19 Impact 

During the COVID-19 Pandemic, most global industries and businesses suffered tremendously due to stringent government-issued lockdowns and safety regulations. The Functional Textile Finishing Agents suffered a decline during the Pandemic as well. The import and export as well as the supply chain of the Functional Textile Finishing Agents was greatly affected during this time. According to Textile Exchange, the total textile production volume decreased from 111 million metric tonnes in FY 2019 to 109 million metric tonnes in FY 2020. This accounts for a decrease 1.8% in the production of textiles. This was the first decrease in growth in the Textile Industry. However, the situation is now improving, and the industry is projected to grow in the forecasted period of 2021-2026.

Report Coverage

The report: “Functional Textile Finishing Agents Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Functional Textile Finishing Agents Industry.

By Product: Antimicrobial/Anti-inflammatory, Flame Retardant, Repellent and Release (Water Repellent, Oil Repellent, Stain Repellent, Mosquito Repellent), Temperature Regulation, Durable Press/Wrinkle Resistant, Fragrant Finishes, Softeners (Cationic & Nonionic Softeners, Silicon Softeners), UV Protective Agents, Others

By Textile Type: Synthetic (Nylon, Polyester, Microfibre, Polypropylene, Acrylic, Acetate, Polyvinyl Chloride (PVC), Lycra, Others), Natural (Cotton, Hemp, Linen, Silk, Wool, Others)

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

• Functional Textile Finishing Agents are known for their versatility in applications and is used as Repellents, Flame Retardants, Temperature Regulators, Wrinkle Resistant and more.
• Asia-Pacific (APAC) holds the largest share by geography in the Functional Textile Finishing Agents market. This is because APAC has the largest textile industry globally and is adopting new smart-technologies when it comes to Finishing Agents.
• Europe and North America are involved in extensive Research & Development in Functional Textile Finishing Agents.

Figure: Asia-Pacific Functional Textile Finishing Agents Market 2021-2027 (USD $ Million)                 

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Functional Textile Finishing Agents Market Analysis – By Product

Repellent and Release held the largest share of 38% in the product segmentation in 2021. There are a variety of Repellent & Release Finishing Agents such as Water Repellent, Oil Repellent, Stain Repellent, Mosquito Repellent and more. These agents are excellent in resisting water, oil, stain, and ward off mosquitoes respectively. The chemicals are usually applied topically on the fabric. Water, oil, and stain repellents are fluorocarbon polymers that typically include a fluorinated component with a non-fluorinated polymer backbone. Flame Retardants and Temperature Regulation Finishing Agents are also witnessing an increase in demand. Flame Retardants are primarily used for Firefighting and Emergency Personnel while Temperature Regulation Agents control moisture and humidity to maintain temperature.

Functional Textile Finishing Agents Market Analysis – By Textile Type

Synthetic textiles hold the largest share in the textile type segmentation by 54% in the Functional Textile Finishing Agents Market in 2021. This is because Finishing Agents show better fastness to synthetic materials like Polyester, Nylon, Rayon and so on as they can form stronger bonds with them. According to Textile Exchange, Polyester is the most widely used fiber in the world and is estimated to have a global annual production of around 57 million metric tonnes in 2020. Polyester accounts for about 52% of the total textile production volume globally. Finishing Agents are also applied on Natural Textiles such as cotton, silk, wool, etc. According to Textile Exchange, Cotton alone holds a total of 24% share globally in production volume of all textiles in 2020.

Functional Textile Finishing Agents Market Analysis – By Geography

Asia-Pacific holds the largest share in the Functional Textile Finishing Agents Market of 44% in the year 2021. Due to the ever-growing textile market of Asia-Pacific, especially in countries like China, India and Bangladesh, the demand for Functional Textile Finishing Agents has seen a rise in the region. According to India Brand Equity Foundation (IBEF), the production of Fiber is estimated to reach 2.4 million tonnes in FY 2021. The Indian Textiles and Apparel Industry contributed to 2% of the GDP and 12% of export earnings in the year 2019. Furthermore, smart-technology product segmentations like Repellents, especially mosquito repellents, and temperature regulators are witnessing a rise in demand in the Asia-Pacific region. Europe is fast growing in the Functional Textile Finishing Agents Industry as there has been a tremendous growth in the Textile Business of Germany, France, and UK. This is also due to their investment in Research & Development in both the Textile Industry and the Functional Textile Finishing Agents Market.

Functional Textile Finishing Agents Market Drivers

Increase in the Use of Functional Textiles in various Applications:

The use of Functional Textiles has witnessed a growth in recent years as more and more people are beginning to adopt various fabrics for different applications. They are used in the Medical Sector, Hygiene Management, Personal Protection, Sports & Leisure, Defense and Aerospace and more. We can naturally correlate the growth of Functional Textiles Finishing Agents to this factor. Personal Protective Equipment (PPE) is one of the best examples of this. According to the International Finance Corporation, the global market for PPE was estimated to be USD $8 billion in 2019 while its global production increased by 300% during the Pandemic. According to the National Audit Office of the United Kingdom, the Department of Health and Social Care’s budget for PPE for United Kingdom alone was GBP 15 billion for 2020-2021. This proves to be a great driver for the Functional Textiles Finishing Agents Market. 

The Growth of the Textile Industry in Asia-Pacific:

The Textile Industry in Asia Pacific is growing at a fast pace, especially in countries like China, India, and Bangladesh. China is the leading exporter of textiles and apparel holding a global share of 42% in global textile exports in 2016, followed by India at 5.4%, according to the National Informatics Centre (India). It is estimated that China will have the largest market size in the Textile Market, valued at USD $378 billion by 2025. The Functional Textile Finishing Agents Market greatly benefits from the growth of the Textile market in Asia-Pacific as the demand for Finishing Agents will also increase simultaneously.

Functional Textile Finishing Agents Market Challenges

Toxic Effects of Finishing Agent Chemicals on Environment and Health:

There are a variety of Chemicals used in the Finishing Agents of Textiles and a great number of them prove to be harmful to both the environment and the human body. Some examples are formaldehyde used in wrinkle resistant agents, a carcinogenic chemical that can cause allergic reactions and dermatitis. Other examples are siloxanes, a chemical used as a softener that is harmful for aquatic life, and fluorinated chemicals present in Repellents that can accumulate in the body and cause liver cancer and disrupt reproductive capacity. Regulations like the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) are put in place by the European Union to protect human health and the environment from the risks of Toxic Chemicals. Such Acts and Regulations are put throughout various countries to control the pollution and harmful effects of Finishing Agents.

Functional Textile Finishing Agents Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Pearlescent Pigment Market. They key companies in the Pearlescent Pigment Market are:

1. BASF SE
2. Bayer AG
3. Huntsman International LLC
4. Sumitomo Chemicals Co. Ltd.
5. The Dow Chemical Company
6. Kemira
7. Evonik Industries AG
8. Archroma Management GmBH
9. HT Fine Chemical Co. Ltd.
10. Wacker Chemie AG

Acquisitions/Technological Launches

• On, 25 September 2019, BASF SE showcased a variety of sustainable solutions that aims to help the textile industry reduce carbon emissions and make the production of textile more stable. Also launched a new brand “PolyTHF Inside”, which will endorse spandex products with high performance and stable production process.
• On, 02 March 2021, Huntsman Textile Effects enters into a partnership with Sciessent to develop and provide revolutionary antimicrobial and odor-resistant textiles.
• On, 03 June 2021, Sumitomo Chemical announces plans to build a new Research Facility in Chiba, Japan. This facility will focus on developing innovative materials and technologies that ain towards reducing environmental impact.

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