Textile Finishing Chemicals Market is to grow at a 5.5 % CAGR, with the United States leading the market through 2030

Textile Finishing Chemicals Market to Hit USD 11.70 Bn by 2030

Textile Finishing Chemicals Market was USD 8.04 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.5 % from 2023 to 2030, reaching USD 11.70 Bn by 2030. Specialized textile finishing chemicals are becoming more and more necessary as a result of the fashion industry's desire for creative, fashionable, and adaptable textiles. Manufacturers are creating textiles that satisfy consumer demands for high-performance, sustainable, and environmentally friendly materials. In the United States, the market for textile finishing chemicals was estimated to be worth USD 9.1 billion in 2024 and is expected to reach USD 11.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.7%.

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Textile Finishing Chemicals Market Segmentation

By Process: The Pad-Dry Cure method is widely used to produce utilitarian textiles, such as industrial textiles, outerwear, and sportswear. In the exhaust dyeing technique, the cloth is immersed in a dying solution and absorbs the dye or finish via exhaustion. Ideal for dyeing synthetic fibers such as polyester.

By Application: Fabric treatments that improve water-repellency, wrinkle resistance, stain resistance, anti-microbial qualities, and UV protection are included in the apparel textile category. Home fabrics are frequently finished to increase their comfort and longevity. Automotive, healthcare, military, construction, and geotextiles are just a few of the industries that employ technical textiles.

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Textile Finishing Chemicals Market Regional Analysis

APAC accounted for over 65.3% of the textile chemicals market in 2021. The market for textile chemicals in Asia is expected to increase at a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2030, reaching a value of around $20.94 billion. Longsheng Group, a Chinese company which dominates the market.

North America accounted for over 13.3% of the textile chemicals market in 2021. The market is expected to expand at a CAGR of 5.25% from 2023 to 2030. Huntsman Corporation, The Dow Chemical Company, Evonik Industries AG, and DuPont de Nemours Inc. are some of the major key players in North America.

The Europe textile market was estimated to be worth $4.73 billion in 2023, with CAGR of 4.5% from 2023 to 2030, projections indicate that it will reach $5.11 billion by 2030. By 2030, it is anticipated that the demand for textile chemicals in technical textiles would have increased from $647.9 million in 2023 to over $857.7 million.

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Textile Finishing Chemicals Market Competitive Landscape

Huntsman Corporation: In January 2021, Huntsman acquired the North American producer Gabriel Performance Products for $250 million. Huntsman acquired the remaining 50% stake in the Sasol-Huntsman joint venture. A $20 billion merger of equals was announced by Huntsman and Clariant.

Wacker Chemie AG: In May 2024, Wacker acquired the manufacturing resources and know-how of Bio Med Sciences Inc., a US-based company. Wacker acquired all of ADL BioPharma's shares by approximately 2,000 cubic meters.

The Dow Chemical Company: In 2024, Dow agreed to acquire Circulus, constructing plants with a combined 50,000 metric ton annual capacity in Alabama and Oklahoma. Rohm and Haas were acquired by Dow for $18.8 billion.

Conclusion

Businesses that invest in technology and adopt eco-friendly practices will be in a strong position to take a sizable chunk of this expanding market.
To achieve long-term success, the industry's expansion will need to strike a balance between innovation and tackling environmental and regulatory issues.

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