Denim Finishing Agents Market by Type (Softeners, Enzymes, Anti-back Staining Agents, Bleaching Agents, Resins, Neutralizing Agents, Dyes, Detergents), Denim Type (Raw, Cotton), Application (Garments, Non-Garments), and Region - Global Forecast to 2028
Denim Finishing Agents Market
The global denim finishing agents market size is valued at USD 1.4 billion in 2023 and is projected to reach USD 1.9 billion by 2028, growing at a cagr 6.1% from 2023 to 2028. Over the world, the market is expanding significantly, and during the forecast period, a similar trend is anticipated. The extensive use of denim finishing agents and increasing demand for fashionable & comfortable denim clothing has raised the demand for denim finishing agents worldwide. Technological advancements in denim finishing, increasing demand for customized denim, and growing demand from emerging economics are key factors expected to drive the global denim finishing agents market during the forecast period. Furthermore, expansion of E-commerce & online retail and growing demand for sustainable & eco-friendly denim finishing agents is an opportunity for market growth. However, competition from counterfeit products and volatility in raw material prices are the major challenges in the denim finishing agents market.
Attractive Opportunities in Denim Finishing Agents Market
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Denim Finishing Agents Market Dynamics
Driver: Increasing demand for fashionable & comfortable denim clothing
The Denim Finishing Agent Industry has spread significantly because of the rising demand for comfortable and stylish denim garments. The fashion industry has always been a boom due to the quick consumer demand and turnover of trends for fresh & new looks. By manipulating to these shifting fashion trends and providing a broad variety of colors, shapes, and finishes, denim has been able to maintain its appeal. The growth of fast fashion is one of the parameters contributing to the increasing demand for stylish denim garments. As producers swiftly produce a range of denim styles to be inline with consumer tastes, this has increased the demand for denim finishing agents.
Restraints: Health & environmental concerns
The growing problem over the environmental and health-related effects of the chemicals used in the denim finishing process is one of the vital parameter limiting the market for denim finishing agents. Softeners, enzymes, and dyes are common ingredients in denim finishing treatments, they have the potential to be harmful to the human health and environment. Both customers and denim industry employees who purchase denim items may have health issues due to the use of these ingredients. Environmental issues are related to the usage of denim finishing agents in addition to health issues. Because of this, there is a rising need for denim finishing agents that are more environmentally friendly than conventional chemical treatments.
Opportunities: Growing demand for sustainable & eco-friendly denim finishing agents
The rising demand for sustainable and environmentally friendly denim finishing agents is one of the major factor for the denim finishing agents market. Customers are becoming more concerned about how their purchases may affect the environment, and denim manufacturers are reacting by enabling more sustainable techniques. This involves denim finishing techniques that are less harmful to surrounding than conventional chemical processes, like natural dyes and biodegradable enzymes. Many factors, including as governmental laws, shifting customer preferences, and necessity for denim producers to differentiate their products in a crowded market, are driving the demand for environmentally friendly and sustainable denim finishing agents.
Challenges: Volatility in raw material prices
The volatility in raw material prices is one of the key challenge to the market of denim finishing agents. The softeners, enzymes, and dyes that form denim finishing agents comes from many different sources. The cost of manufacturing denim finishing agents may be affected by the fluctuating prices of these raw materials. Changes in demand and supply, geopolitical events, and natural disasters are only a few of the factors of the volatility in raw material pricing. With less demand for denim finishing agents due to higher prices, the market's expansion may create challenges for the manufacturers to sell denim finishing agents.
Denim Finishing Agents Market Ecosystem
Prominent companies in denim finishing agents market include financially stable and well-established manufacturers of denim finishing agents. These key players have been operating in the market for several years and possess state-of-the-art technologies, a diversified product portfolio, and strong worldwide marketing and sales networks. Prominent companies in this market include Archroma (Switzerland), Kemin Industries, Inc. (US), Asutex (Spain), Rudolf GmbH (Germany), and DyStar Group (Singapore).
Based on type, the softeners segment is estimated to account for the largest market share of the denim finishing agents market
Based on type, the softeners segment is estimated to account for the largest market share. This is attributed to the high demand for greasy brighter, soft, slippery, and elastic denim jeans is fueling growth of softeners across the globe. Moreover, the enzymes segment is anticipated to grow at the highest CAGR during the forecast period because of its superior qualities.
Based on application, the garments segment is estimated to account for the largest market share of the denim finishing agents market
Based on application, the garments segment is estimated to account for the largest market share. This is attributed to the cultural preferences that drives the demand denim garments, for example denim is seen as a symbol of western culture and is highly valued, globally. Moreover, consumer preference towards certain feel or look of the garment drives the denim finishing agents market in garments application. On the other hand, the garments segment is also anticipated to grow at the highest CAGR during the forecast period.
The Asia Pacific market is projected to contribute the largest share of the denim finishing agents market
Asia Pacific is projected to hold the largest share of the global denim finishing agents market throughout the forecast period, in terms of value. According to projections, the region will be a prime location for the denim finishing agents business attributed to the growing demand for denim garments in the region along with increasing population. Asia Pacific is also projected to witness the highest CAGR during the forecast period between 2023 and 2028 in terms of value. The high production volumes of denim garments in the countries such as India, China, and Bangladesh are expected to further drive the market in Asia Pacific between 2023 and 2028.
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Denim Finishing Agents Market Players
The key market players profiled in the Report include Archroma (Switzerland), Asutex (Spain), Rudolf GmbH (Germany), DyStar Group (Singapore), Kemin Industries, Inc. (US), CHT Group (Germany), Pulcra Chemicals GmbH (Germany), Novozymes A/S (Denmark), The Seydel Companies, Inc. (US), and Yuken Chemical Co., Ltd. (Japan) among others.
Denim Finishing Agents Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2023 |
USD 1.4 billion |
|
Revenue Forecast in 2028 |
USD 1.9 billion |
|
CAGR |
6.1% |
|
Market size available for years |
2017-2028 |
|
Base Year Considered |
2022 |
|
Forecast period |
2023–2028 |
|
Forecast units |
Value (USD Million/Billion), Volume (Kiloton) |
|
Segments Covered |
Type, Denim Type, Application, and Region |
|
Geographies covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies covered |
Archroma (Switzerland), Kemin Industries, Inc. (US), Asutex (Spain), CHT Group (Germany), Pulcra Chemicals GmbH (Germany), Rudolf GmbH (Germany), DyStar Group (Singapore), Novozymes A/S (Denmark), The Seydel Companies, Inc. (US), Yuken Chemical Co., Ltd. (Japan) and others |
The study categorizes the denim finishing agents market based on Ingredient Type, Denim Type, Application, and Region.
By Type:
- Softeners
-
Enzymes
- Cellulase
- Amylase
- Catalase
- Laccase
- Anti-back Staining Agents
- Bleaching Agents
- Resins
- Neutralizing Agents
- Dyes
- Detergents
- Others
By Denim Type:
- Raw
- Cotton
- Sanforized
- Crushed
- Selvedge
- Poly
- Others
By Application:
- Garments
-
Non-Garments
- Footwear
- Accessories
- Home Decor
By Region:
- Asia Pacific
- North America
- Europe
- Middle East & Arica
- South America
Recent Development
- In May 2023, CHT Group has announced an expansion of its business by building a new production facility in Meghna Industrial Economic Zone (MIEZ), Narayanganj, Bangladesh to increase its tailor-made customer service in Asia Pacific.
- In April 2023, DyStar Group has announced an expansion of its business by restructuring its Ludwigshafen facility located in Germany. The expansion is made by DyStar Group in response to changing market shifts and business conditions.
- In March 2023, Rudolf GmbH has announced an expansion of its business by opening a new plant in Nantong, China. This new plant is a necessary and logical step in textile auxiliaries’ industry to strengthen the company's competitive position both globally and locally.
- In March 2023, Rudolf Bangladesh Ltd., a subsidiary of Rudolf GmbH has announced an expansion of its business by moving to a new office to accommodate a growing local team. With a growing team, the company will provide even more technical support to its customers.
- In February 2023, Archroma has announced an acquisition of textile effects business from Huntsman Corporation. This acquisition will offer combined product portfolios of both the companies with highly complementary fashion brands in the textile industry.
- In January 2023, Devon Chemicals, a subsidiary of Pulcra Chemical GmbH has announced an expansion of its business by introducing Purissimo NTL, a biobased and biodegradable allergen control technology, to apply on textiles during the finishing stage of the textile manufacturing process.
Frequently Asked Questions (FAQ):
What are the drivers and opportunities for the denim finishing agents market?
Factors such as increasing demand for fashionable & comfortable denim clothing, technological advancements in denim finishing, increasing demand for customized denim, and growing demand from emerging economics drives the market growth. Moreover, expansion of E-commerce & online retail and growing demand for sustainable & eco-friendly denim finishing agents creates an opportunity for the denim finishing agents market.
Who are the major players in the denim finishing agents market?
The key market players are Archroma (Switzerland), Asutex (Spain), Rudolf GmbH (Germany), DyStar Group (Singapore), and Kemin Textile Auxiliaries (San Marino).
What is the emerging ingredient type of denim finishing agents?
The enzymes segment is the emerging ingredient type of denim finishing agents during the forecast period.
What are the major factors restraining market growth during the forecast period?
Health & environmental regulations is the major restraint for the denim finishing agents market growth.
What will be the impact of Climate Control Change and other initiatives on the growth of the global industry?
Due to rising environmental concerns, the denim finishing agents industry is closely monitored by environmental regulatory bodies. This has resulted in its slow growth, specifically in developed regions. .
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The study involved four major activities in estimating the current size of the denim finishing agents market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering denim finishing agents and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the denim finishing agents market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Denim Finishing Agent Industry scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from denim finishing agents vendors; system integrators; component providers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using denim finishing agents, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of denim finishing agents and future outlook of their business which will affect the overall market.
The Breakdown of Primary Research
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
|
COMPANY NAME |
DESIGNATION |
|
Archroma |
Vice-President |
|
Asutex |
Director |
|
Rudolf Group |
Project Manager |
|
DyStar Group |
Sales Manager |
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the denim finishing agents market.
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Global Denim Finishing Agents Market Size: Bottom Up Approach
Source: MarketsandMarkets Analysis
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Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides of denim finishing agents.
Market Definition
Denim finishing agents are substances that are applied to denim fabrics in the textile industry to improve its appearance, feel, and functionality. These substances can be sprayed, coated, or washed onto denim fabrics as part of various finishing procedures. Softeners, enzymes, anti-back staining agents, bleaching agents, resins, neutralizing agents, dyes, detergents, and other substances are examples of common denim finishing agents.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, segment, and forecast the size of the denim finishing agents market based on type, application, and region
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, South America, Middle East & Africa, along with major countries in each region
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the denim finishing agents market
- To analyze technological advancements and product launches in the market
- To strategically analyze micro markets, with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the denim finishing agents market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the denim finishing agents market
Growth opportunities and latent adjacency in Denim Finishing Agents Market