Textile Finishing Chemicals Global Market Report 2024

The textile finishing chemicals market size has grown strongly in recent years. It will grow from $8.01 billion in 2023 to $8.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The observed growth in the historical period can be attributed to several factors, including the expansion of the textile industry, increased demand for specialty fabrics, evolving fashion and apparel trends, consumer inclination towards functional fabrics, advancements focused on performance enhancement in textiles, and the globalization of textile trade.

The textile finishing chemicals market size is expected to see strong growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be linked to several factors, including a surge in fashion customization, the popularity of athleisure wear, the resilience of the textile industry against external factors, rising demand in emerging markets, and the growing preference for sustainable and eco-friendly solutions. Key trends expected in this period encompass the adoption of digital printing technologies, advancements in fashion customization approaches, innovations focusing on functional finishes in textiles, the emergence of nano-finishing technologies, the development of smart textiles and wearables, and the increasing utilization of biodegradable and biocompatible chemicals in the textile industry.

The anticipated surge in the apparel industry is projected to significantly boost the textile finishing chemicals market in the foreseeable future. The apparel sector encompasses the manufacturing of clothing for individuals and extensively utilizes textile finishing chemicals in various processes such as cutting, washing, dyeing, coating, and sewing. These chemicals play a pivotal role in creating the desired characteristics in fabrics for apparel and accessories such as footwear, outerwear, pants, and tops. As of May 2022, a report from the National Retail Federation, a US-based retail trade association, revealed an 11.2% year-over-year increase in sales at clothing and clothing accessory stores in the U.S., with a 0.8% uptick from the preceding month. This robust growth in the apparel industry is identified as a key driver behind the expansion of the textile finishing chemicals market.

The imminent growth of the textile industry is poised to drive the textile finishing chemicals market in the coming years. The textile industry encompasses a broad spectrum of manufacturing activities, from the production of fibers, yarns, and fabrics to finished textile products used in various applications. Textile finishing chemicals are essential in modifying and enhancing textile properties to meet specific requirements, applied at different stages of textile processing. In December 2022, the National Council of Textile Organizations reported that shipments of textiles and clothing in the United States reached $65.8 billion, reinforcing the country's position as the world's third-largest exporter of textile-related items. Notably, the sector's exports totaled $34.0 billion in 2021, underscoring the substantial impact of the expanding textile industry on the textile finishing chemicals market.

The prevailing trend in the textile finishing chemicals market centers around technological advancements, with major industry players dedicating efforts to developing innovative products to enhance their market standing. An illustrative example is Osmo Chemical Laboratories Pvt Ltd., an India-based specialty chemical manufacturer, which, in June 2022, introduced Silky SF, a cationic softener designed to impart excellent softening effects on diverse textiles. Positioned as an affordable solution, Silky SF delivers a velvety feel to fabrics and is applicable across the Indian and international markets. Particularly effective on cotton, this finishing chemical enhances the fabric's physical texture, providing a soft, fluffy, soapy, and voluminous surface. Silky SF can be applied through exhaust and pad processes to augment the fabric's lubricity, offering a reasonably priced solution with minimal shade change after thermo-mechanical treatments for softening.

Major companies are strategically partnering to optimize performance and conserve resources. Strategic partnerships involve leveraging complementary strengths and resources to achieve mutual benefits and success. A notable collaboration occurred in June 2022 when Archroma, a Switzerland-based textile finishing chemicals manufacturer, partnered with Baldwin Technology Company, Inc., a US-based specialist in process automation equipment. This collaboration aims to support textile producers in their development initiatives, enhancing product safety, performance, and functionality while improving the efficiency and resource utilization in the finishing application process. Archroma and Baldwin are jointly working on multiple projects that integrate Archroma's environmentally friendly product advancements with Baldwin's Texcoat G4, exemplifying the industry's commitment to strategic collaborations for mutual growth and sustainability.

In July 2021, Pulcra Chemicals, a Germany-based company specializing in the development and production of innovative specialty chemicals for the fiber, textile, and leather industries, acquired Devan for an undisclosed sum. This strategic acquisition is aimed at reinforcing Pulcra Chemicals' status as the foremost global authority in sustainable chemistry within the market. It is anticipated to broaden their offerings and better serve a diverse array of textile markets. Devan, headquartered in Belgium, is recognized for its expertise in producing high-tech specialty textile finishing chemicals.

Major companies operating in the textile finishing chemicals market report are Archroma India Pvt. Ltd., Giovanni Bozzetto S.p.A., Celanese Corporation, CHT Group, Clariant AG, DuPont de Nemours Inc., Dystar Singapore Pte. Ltd., Evonik Industries AG, Fineotex Chemical Limited, Hangzhou Chungyo Chem Co. Ltd., Ht Fine Chemicals Co. Ltd., Huntsman Corporation, Solvay S.A., The Dow Chemical Company, Wacker Chemie AG, TANATEX Chemicals B.V., BASF SE, Sumitomo Chemical Co. Ltd., Kiri Industries Ltd., Allied Industrial Corp. Ltd., Lanxess AG, Zschimmer & Schwarz Holding GmbH & Co. KG, Pulcra Chemicals India Pvt. Ltd., Kemin Industries South Asia Pvt. Ltd., Rudolf GmbH, Akzo Nobel NV, Bayer MaterialScience AG, Carpetex GmbH, Chemische Fabrik Kreussler & Co. GmbH, DowDuPont Inc., Ethox Chemicals LLC, Leuna-Tenside GmbH, Veronii Specialty Chemicals Ltd., The Chemical Company, Turning Star Inc., Shawmut Corporation, Macro International Co., Harodite Industries Inc., Fiber-Shield Industries Inc., Michelman Inc..

Asia-Pacific was the largest region in the textile finishing chemicals market in 2023. The regions covered in the textile finishing chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the textile finishing chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key types of textile finishing chemicals include softening finishes, repellent finishes, wrinkle-free finishes, coating finishes, mothproofing finishes, and other specialized treatments. Softening finishes, for instance, represent the concluding stage in apparel finishing, aimed at improving the overall characteristics of garments. Techniques such as the pad-dry cure process, exhaust dyeing process, and other application-specific methods are employed across clothing textiles, home textiles, technical textiles, and various other textile applications.

The textile finishing chemicals market research report is one of a series of new reports that provides textile finishing chemicals market statistics, including textile finishing chemicals industry global market size, regional shares, competitors with textile finishing chemicals market share, detailed textile finishing chemicals market segments, market trends, and opportunities, and any further data you may need to thrive in the textile finishing chemicals industry. This textile finishing chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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