July 13, 2024
Special Report

Coated Fabrics Finishing Chemicals Market To Exceed US$ 20.99 Bln By 2034

The global market for finishing chemicals in coated fabrics is poised for substantial growth, projected to achieve US$ 20992.2 million by 2034. This surge is driven by increasing demand for protective clothing across various industries, where these chemicals enhance fabric functionality with features like flame retardancy, anti-static properties, and moisture-wicking capabilities.

According to Future Market Insights, Inc., the market value is expected to rise from US$ 12379.3 million in 2024 to US$ 20992.2 million by 2034, with a robust CAGR of 5.4%. The silicone softener segment is anticipated to lead, holding a significant volume share of 21.9% by 2024. Meanwhile, enzymatic bio-polishing agents are forecasted to grow steadily at a CAGR of 8.2% through 2034.

The market’s growth is fueled by diverse industrial applications such as apparel, automotive interiors, medical textiles, military and defense, sports textiles, and home furnishings. Protective clothing applications are particularly driving demand, as industries increasingly recognize the need for safety-enhancing features in workwear.

China plays a pivotal role in the market’s expansion, supported by government policies that incentivize research, development, and infrastructure investments. These measures enhance competitiveness among manufacturers. By 2034, China is expected to account for a significant market share, with India and South Korea also showing substantial growth trajectories.

Strict environmental regulations are pushing manufacturers towards sustainable practices and products. Leading companies are focusing on eco-friendly solutions, with initiatives aimed at reducing carbon footprints and introducing innovative, sustainable finishing technologies. For instance, Devan Chemicals recently launched Devan Stain Release, a sustainable textile finishing technology designed to efficiently remove both oil- and water-based stains while promoting eco-friendly practices.

Nikhil Kaitwade from Future Market Insights emphasizes the market’s positive outlook, driven by expanding end-use industries and supportive government policies. The industry’s trajectory underscores a growing demand for advanced finishing chemicals that enhance fabric performance and safety standards across global markets.

Key players in the industry are actively launching innovative products tailored to specific industry needs and expanding their production capabilities in emerging markets. The focus remains on meeting stringent industry standards while advancing sustainable practices

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