The functional textile finishing agents market is expected to grow by USD 1.01 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200907005045/en/
Technavio has announced its latest market research report titled Global Functional Textile Finishing Agents Market 2020-2024 (Graphic: Business Wire)
Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts
Functional textile finishing agents are antimicrobial, impart soil release and repellent properties, and temperature regulation features to textiles. They are widely used by garment makers, textile decorators, and textile manufacturers to differentiate their products through features such as wrinkle resistance, softness, and resistance to flame, stains, and water. Over the years, the demand for functional textile finishing agents has significantly increased due to the growing production and consumption of apparel in China, India, the US, and European countries. Moreover, the growing demand for textiles in home furnishings, floor coverings, car seats, furniture, and advanced textiles has further contributed to the growth of the global functional textile finishing agents market.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44283
As per Technavio, the increasing innovations and emerging new functional textiles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Functional Textile Finishing Agents Market: Increasing Innovations and Emerging New Functional Textiles
Players in the textile industry are continuously working on the development of new textiles with smart features. Some of the recent developments include the use of nanocomposite coating for cotton fabrics. It improved mechanical properties such as wrinkle resistance, shrinking resistance, and oil and soil repellent and release properties and also makes the fabric antibacterial. With growing consumer interest in health and hygiene coupled with changing lifestyles the demand for leisure, baby products, sportswear, and other garments with antibacterial properties will increase during the forecast period. This, in turn, will have a positive impact on the growth of the global functional textile finishing agents market.
"Rising utilization of bio-auxiliaries and environment-friendly finishing agents and increasing demand from the apparel market will further boost market growth during the forecast period," says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Functional Textile Finishing Agents Market: Segmentation Analysis
This market research report segments the functional textile finishing agents market by Product (repellent and release, flame retardant, antimicrobial and antibacterial, temperature regulation, durable press and wrinkle resistant, and others) and Geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the functional textile finishing agents market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increased production of cotton and synthetic textiles in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200907005045/en/