Denim finishing agents will double market size to $2.21 billion by 2025
A recent study has revealed that the denim finishing agent market size is expected to grow from $1.19B to $2.21 billion by 2025 due to increased denim popularity in Asia Pacific as well as technological advances.
Grand View Research, Inc., a San Francisco-based market research and consulting firm completed the study. It found consumer preferences for following denim trends are one reason for the expected growth. Social media has globalized access to what celebrities and models wear so more consumers are seeing appealing ways to wear denim.
Another reason is the key denim manufacturing companies are expected to introduce new innovations and finishing technologies. The tech developments are anticipated to drive denim ahead as a modern fabric that appeals to a new consumer.
The study found half of all global denim finishing is completed by a handful of 7 core companies including BASF, Dow Chemical, Huntsman International LLC, Seydel Companies, Rudolf GmbH, Ab Enzymes, and Organic Dyes and Pigments.
Other denim industry segments that are expected to grow are softeners and enzymes. Already a huge product segment at $247.7 million dollars in revenue in 2016, softeners are expected to grow 9.1 percent by 2025. Softeners will be used to improve the physical properties of fabrics in addition to creating smooth, soft surfaces and reducing yellowing.
Enzymes are going to become a larger player in their ability to speed up finishing process and improve sustainability through refined chemical use. Bleaching agents in the US alone brought in almost $14 million dollars in revenue in 2016. As companies take a larger look at reducing their environmental impact, the industry will have to look at enzymes as one of their first points of improvement.
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