According to a recent market study published by Growth Market Reports (GMR), titled, “Global Denim Finishing Agents Market by Type, End-user, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 1,469.3 Million in 2019 and is expected to grow at a healthy growth rate of 6.7% by the year 2027. The global Denim Finishing Agents market is anticipated to grow owing to rising Demand for Denim Wears from worldwide locations due to trendy look and comfort offered by denim garments. Further, Growing Fashion Industry in Emerging Countries is boosting the production as well as export activities for denim and hence boosting denim production and ultimately propelling the denim finishing agents market growth.
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The global Denim Finishing Agents market is fragmented based on type, application and region. In terms of type, the market is segmented into Enzymes, Resins, Softeners, Defoamers, Bleaching, Crush-Resistant, Anti-Back Staining, and Others. Based on application, the market is bifurcated into SMEs, and Large Enterprises. On the basis of region, the global Denim Finishing Agents market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, Peru, Colombia, Ecuador, and Rest of Latin America (LATAM), Asia Pacific is further segmented into China, Japan, South Korea, India, Pakistan, Bangladesh, Sri Lanka, and Rest of Asia Pacific (APAC). The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe, and the MEA region is further divided into Turkey, GCC Countries, South Africa, Tunisia, Morocco, Ethiopia, Kenya, Tanzania, and Rest of Middle East & Africa (MEA).
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In year 2020, the global denim finishing agents market is anticipated to experience the downtrend due to the negative impact of COVID 19 pandemic. The factors such as decline in demand for denim finishing agents from denim producers due to disruption of supply chain, shutdown of production activities, temporary decline in demand, and restrictions on transportation activities are some of the key factors responsible for declined demand for denim finishing agents in the year 2020. Moreover, the global denim finishing agents market is expected to bounce back to its previous position over the next two years.
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As per GMR industry analyst Vidya Jadhav, “The strong demand for denim due to its durable nature and its position as a fashion statement from last few decades is one of the prime factor propelling the demand for denim finishing agents. In addition, the increasing initiatives taken by denim manufacturers to improved quality of denim garments and boost the production to maintain pace with rising denim demand is anticipated to create potential opportunity for denim finishing agent manufacturers during forecast period.”
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