Global Finishing Machinery Market 2017-2021: Market Growth at CAGR of 13.43%

The global finishing machinery market to grow at a CAGR of 13.43% during the period 2017-2021.

Global Finishing Machinery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is Use of nanotechnology in textile production. The use of conventional methods to impart different properties, such as color, texture, and others, to the fabric, often do not lead to permanent effects after wearing or laundering. This drawback can be overcome by using nanotechnology textiles, which offer high durability even after washing. These textiles have applications in end-user industries such as sporting goods, skincare, space technology clothing, and materials technology for protection from harsh environmental conditions.

According to the report, one of the major drivers for this market is Increasing demand for textiles. As per the World Bank's estimates, at the end of 2016, global population stood at 7.6 billion and was growing at a rapid rate. Global population is expected to witness a surge of 500 million inhabitants by 2020, and the number will reach to 9.9 billion by 2050. Advances in healthcare, nutrition, and access to food have resulted in longevity, which is the key reason for increasing population. Growth in population is also backed by the significant increase in urbanization and more people surviving to reproductive age. The World Bank predicts that much of this growth will take place in the developing and underdeveloped countries, with Africa contributing to almost 50% of this growth.

Further, the report states that one of the major factors hindering the growth of this market is Lack of skilled labor in textile industry. The textile industry faces a massive challenge in the form of shortage of skilled labor. End-users are reluctant to provide in-house training to their employees due to the additional costs involved. Moreover, the extensive use of chemicals in textile manufacturing requires the workers to handle them carefully to avoid mishaps. The non-availability of skilled labor leads to shop-floor mishaps and delays in production. The market also faces a shortage of support staff such as electricians and pneumatic and hydraulic technicians. For instance, Bangladesh, which has emerged as the second largest apparels producer in the world is facing a huge shortage of labor.

Key vendors

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Technology

Part 07: Geographical Segmentation

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/k4zt57/global_finishing

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