The Polypropylene Fiber Market is slated to exceed $7 billion by 2027, Says Global Market Insights Inc.
The growth of the polypropylene fiber market is propelled by proliferating automotive industries in emerging nations, increasing adoption of hygiene products in developing countries, prevalent adoption of e-vehicles, and rapid urbanization, says this report.
SELBYVILLE, Del., Nov. 30, 2021 /PRNewswire/ -- According to the latest report by Global Market Insights Inc., the Polypropylene Fiber Market was estimated at USD 3.5 billion in 2020 and is expected to surpass USD 7.05 billion in revenue by 2027, registering with a CAGR of 3.2% from 2021 to 2027. The research report offers a detailed analysis of market size & estimations, wavering market trends, top winning strategies, drivers & opportunities, competitive scenario, and major investment pockets.
Polypropylene fiber refers to a type of linear polymer synthetic fiber that is obtained through propylene polymerization. Owing to its soft texture and high tensile and tear strength that is required for long-term usage, it is commonly used in the production of fabrics for automotive interiors. It also possesses excellent hydrophobicity, which makes it a stain-resistant and lightweight material, offering innovative solutions for manufacturing lightweight vehicles. These factors are expected to fuel product demand in the coming years. Furthermore, rising disposable income, growing population, favorable government initiatives, cost-effective labor, and enhanced standards of living are also set to support market growth through the forecast period.
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Polypropylene fibers are widely used in upholstery fabric as they offer multiple benefits. Mounting demand for flexibility, high tensile strength, lightweight materials, and wear & tear resistance for household and furniture textile has increased product adoption in upholstery fabrics application. Driven by escalating product uptake, the upholstery fabrics application segment is estimated to garner more than 25% share in the market by the end of 2027.
In terms of form, the polypropylene fiber market from the staple fiber segment was valued at USD 2,135 million in 2020 and is expected to grow at 3.3% CAGR through 2027. Staple polypropylene fibers are mainly employed in the production of nonwoven fabrics, which are widely used in varied sectors viz., filtration, construction, and medical. Soaring demand for these fibers is foreseen to stimulate segmental growth through the analysis timeline.
Key reasons for polypropylene fiber market growth:
- Growing product utilization in hygiene products.
- Surging product prominence in wastewater treatment industry.
- Increased usage in production of fabrics for automotive interiors.
- High product adoption in concrete mix for superior crack resistance.
2027 forecasts show 'construction' segment retaining its dominance:
From the end-user perspective, the polypropylene fiber industry share from the construction segment is expected to grow at a CAGR of 2.5% over the analysis period. Enhanced performance and shelf-life of structures, coupled with significant reduction in construction expenditures, are slated to fuel product uptake in the construction sector over the following years.
North America to maintain top status in terms of revenue:
Based on region, the North America polypropylene fiber market is projected to account for over 20% of the overall industry revenue by 2027. Soaring need for several medical products, including hospital bedding, surgical gowns, masks, hygiene products, wound dressing fabrics, and protective clothing, is likely to contribute to regional market growth in the future. Moreover, high automobile production in the region is speculated to further foster product outlook through the assessment timeframe.
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Impact of COVID-19 pandemic on polypropylene fiber market:
The COVID-19 outbreak disrupted the global supply chain, bringing virtually all industries to a halt. Subsequently, raw material and labor shortage as well as stringent lockdowns imposed across the globe hampered the growth of the polypropylene fiber market in key regions. However, with widespread immunization efforts and increased government emphasis on accelerated economic recovery, various industries are resuming operations, thereby steadily impelling product demand across diverse applications.
Meanwhile, the onset of COVID-19 also caused a steep increase in the need for effective measures to prevent the spread of the novel coronavirus. Notably, booming significance of polypropylene fiber in face masks has positively influenced market growth during the pandemic.
Leading market players:
Some major companies operating in the global polypropylene fiber industry are American Synthetic Fiber, LLC., International Fibres Group, BASF SE, ABC Polymer Industries, LLC, Zenith Fibers Ltd., Lotte Chemical Corporation, LCY Chemical Corp., The Euclid Chemical Company, Sika AG, and FiberVisions Corporation, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights Inc.
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