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Functional Textile Finishing Agents Market size will experience a dynamic growth between 2023 and 2032 as many companies are introducing advanced technologies, such as nanotechnology, in their textile finishing processes. These technologies will play a vital role in improving color resilience, water resistance, and other characteristics of fabrics. In addition, concerns regarding ozone layer depletion have promoted the need for UV protective functional textiles finishes during exhaust and padding processes.
The demand for flame retardant textile finishing agents is predicted to rise commendably over the coming years. Since workers in the chemical manufacturing sector are exposed to various dangers, especially fire accidents due to their prolonged exposure to inflammable chemicals and petrochemicals, the usage of textile finishing chemicals containing flame retardant properties may rise. Many organizations are introducing eco-friendly textiles to contribute towards sustainability. However, the implementation of stringent regulations and laws to place limits on the amount of chemicals used in textile finishing agents may hinder the functional textile finishing agents market outlook.
Temperature regulating textile finishing agents are likely to capture a dominant share of functional textile finishing agents industry by 2032 as more people are participating in various sports activities. According to data by the U.S. National Federation of State High School Associations, in the school year of 2021-2022, football recorded the highest participation from boys at 973,792, while 456,697 girls took part in track & field sports. Since cooling, sweat absorbing, and fast drying are some of the key functional requirements for high-activity sports clothing, the usage of temperature-regulating textiles and functional fabric finishes is predicted to surge considerably.
In May 2021, U.S.-based textile manufacturing firm Nextiles announced the launch of smart fabrics that can track human performance data including a user’s temperature. This feature can be useful for athletes to supervise their overall performance. The company will use sensor-embedded fabrics by blending printed circuit boards with conventional sewing techniques to make flexible smart clothing materials. Such developments are likely to fuel business growth.
Europe functional textile finishing agents market is projected to display a strong increase in its valuation by 2032. The region has a vast presence of UK-based firms, such as Eleksen, that combine smart technical textile technologies with consumer goods like clothing. According to the U.K. Fashion and Textile Association report, in March 2021, there were more than 4,200 textile manufacturers in the country, a 12% rise in the last 5 years. This factor, along with the thriving construction industry, will drive the regional market forecast as construction workers need to wear PPE clothing to meet the governments’ safety standards.
The Russia-Ukraine war had an adverse impact on the production and supply of functional textile finishing agents as the textile industry had to close its manufacturing processes due to severe shortage of raw materials. This factor slowed the overall market progress as well.
Some of the major key players operating in the functional textile finishing agents market include Sarex, Zydex Industries, OMNOVA Solutions (Synthomer), Wacker Chemie AG, NICCA Chemical Co., Ltd., Tanatex Chemicals B.V., CHT Group, KAPP-CHEMIE, Sumitomo Chemical, HT Fine Chemical, Evonik Industries (RAG-Stiftung), Archroma, The Dow Chemical Company, Huntsman Corporation, BASF SE, and Covestro, among others. These market players are executing various strategies, such as acquisitions, new product launches, partnerships, and mergers to increase their customer base.
For example, in March 2021, Huntsman Textile Effects and Sciessent announced their collaboration to introduce odor-control and antimicrobial functional finishing solutions including Agion Antimicrobial, to textile mills and clothing brands across the world.