The global polypropylene fiber market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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A key factor driving the market is the growing textile industry. Polypropylene fiber is primarily used in the textile industry for manufacturing products such as carpets, upholstery, and tarpaulins as it is lightweight and chemical resistant. In addition, the cost-effective pricing of the fiber makes it the preferred raw material for the manufacture of the mentioned products. Further, governments of emerging economies such as China, South Africa, and India have been taking initiatives to promote the textile industry. The export of textiles and clothing from various developing countries has also increased in the past few years, thereby increasing the demand for polypropylene fiber.
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As per Technavio, the emergence of bio-based polypropylene will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Polypropylene Fiber Market: Emergence of Bio-based Polypropylene
Environmental concerns associated with the production and use of fossil fuel-derived polypropylene are growing. In line with the growing awareness about healthy lifestyles among consumers, the use of safer and renewable sources to manufacture end-products is also increasing. These factors are propelling polypropylene manufacturers to shift from petrochemical feedstock to bio-based feedstocks. Another major reason for the shift is the volatility in the price of petroleum-based chemicals. Many polypropylene-manufacturing companies are also seen investing in research and development of e large-scale production of bio-based polypropylene. Such advantages and initiatives are expected to boost the growth of the overall global polypropylene fiber market during the forecast period.
“The emergence of polypropylene recycling, and the increasing sustainable and resilient buildings are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Polypropylene Fiber Market: Segmentation Analysis
This market report segments the global polypropylene fiber market by end-users (healthcare and hygiene, geotextile, construction, furnishing, and others) and geography (APAC, Europe, MEA, North America, and South America).
APAC led the market in 2018, followed by Europe, North America, South America, and MEA respectively. APAC has been dominating the polypropylene fiber market share due to the significant contribution from the geotextile industry in Indian Subcontinent and Southeast Asia. In addition, growing investments in the infrastructure and expansion of airports are also contributing to the growth of the polypropylene fiber market in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic Segmentation
- Geographic comparison
- Key leading countries
- Market opportunity
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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