The global finishing chemicals for coated fabrics market is projected to reach USD 20,992.2 Million by 2034, fueled by a significant rise in demand for protective clothing across various industries. These chemicals enhance the functionality of coated fabrics, like adding flame retardancy, anti-static properties, and moisture-wicking capabilities, ensuring worker safety in hazardous environments. However, the report also delve into potential challenges that might hinder this growth trajectory, read more!
NEWARK, Del., June 19, 2024 /PRNewswire/ -- According to Future Market Insights, Inc., the global finishing chemical for coated fabrics market value is forecast to increase from USD 12,379.3million in 2024 to USD 20,992.2million by 2034. Over the assessment period, global demand for finishing chemicals for coated fabrics is projected to surge at a CAGR of 5.4%.
The silicone softener segment is expected to dominate the global finishing chemical for coated fabrics market through 2034. It will likely hold a volume share of 21.9% by 2024. On the other hand, the enzymatic bio-polishing agent segment is set to thrive at a steady CAGR of 8.2% through 2034.
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The finishing chemical for coated fabrics market is witnessing a steady growth rate. It is driven by diverse industrial applications. A few key end-use areas include apparel, automotive interiors, medical textiles, military and defense textiles, sports textiles, home furnishings, and others.
Demand for coated fabrics in protective clothing applications is on the rise as several industries are realizing the need for such clothing and gear at workplaces. Several chemicals like anti-static, flame retardant, and wicking agents impart unique characteristics to the coated fabrics. These features are set to help safeguard the workers working in risky and difficult environments.
China's supportive government policies and incentives further play a pivotal role in fostering the growth of the finishing chemical for the coated fabrics industry. Government measures like subsidies on research and development, as well as investment incentives for infrastructure development, surge the competitiveness of manufacturers in China.
Key Takeaways from the Report
- The global finishing chemical for coated fabrics market is projected to thrive at 5.4% CAGR through 2034.
- By product type, the silicone softeners segment is expected to total a value of USD 3,578.9 million by 2034.
- By fabric type, the synthetic segment is expected to attain a value of USD 14,889.2 million by 2034.
- China is expected to account for a significant share of about 7.2% in 2034.
- India's industry is anticipated to reachUSD 2,470.2 million by 2034.
- South Korea is projected to attain a value of USD 1,307.2 million by 2034.
"The global finishing chemical for coated fabrics market is poised to witness healthy growth due to strict environmental regulations and expanding industries. New policies of government bodies are encouraging more manufacturers to produce finishing chemicals. Simultaneously, increasing end-use industries will help the demand to surge." - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
Key finishing chemicals for coated fabric manufacturers are focusing on launching cutting-edge products to cater to the specific needs of several industries. A few leading players aim to set up innovative production facilities in emerging countries to tap into niche areas and surge sales. With a growing focus on reducing carbon footprint, companies are coming up with sustainable products to create an eco-friendly business environment.
Recent Development-
- In April 2024, Devan Chemicals, a Belgium-based innovative textile solutions provider, introduced Devan Stain Release, a new textile finishing technology. The release can help wash off both oil- and water-based stains with a high focus on sustainability. The release efficiently prevents stains like oils, tea, mid, ketchup, and grass from entering deep into the fibers. The product is specifically made for those who require the dual benefits of wicking and stain-release properties.
Purchase now and gain full access to the Finishing Chemical for Coated Fabrics Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
More Insights into the Global Finishing Chemical for Coated Fabrics Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global finishing chemical for coated fabrics market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on product type, fabric type, end-use, and region.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing - 'The Way Forward'.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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