Polypropylene Fiber Market Likely To Attain The Value of USD 14.47 Billion By 2026, Growing At 5.21% CAGR
As per the projection, the global polypropylene fiber market has probably valued at nearly USD 9.64 billion in 2019 and is likely to attain a value of nearly USD 14.47 billion by 2026. Based on the current situation and the future growth trends of the market, the analysts at Zion Market Research are expecting that the global market is predicted to propel at a CAGR of about 5.21% in the forthcoming years.
International Fibers Group Has Grabbed Leading Position In The Global Market Through Acquisition & Production Enhancement
The global polypropylene fiber market report offers a comprehensive data regarding the several dominating firms that propel the global market for a significant period. The comprehensive information includes product cost, manufacturing, sales, distribution, and revenue generation. A few of the leading contenders in the market are ABC Polymer Industries LLC, Zenith Fibres Limited, Beaulieu International Group, The Euclid Chemicals Company, International Fibers Group, Hubei Botao Synthetic Fiber Co. Ltd, BASF SE, American Synthetic Fiber, LLC, Sika AG, Chemical Corp., LCY Forta Corporation, Tri Ocean Textile Co. Ltd, Belgian Fibers Fibervisions Corporation, and Lotte Chemical Corporation. Among all the key players, the International Fibers Group holds a significant position in the global polypropylene fiber market. The company is globally renowned for polypropylene fiber production. To attain the globally strong position, the manufacturer has executed some key strategic approaches such as acquiring Exelto NV for production facility expansion and investing in Asota site. Along with this, like the key contender International Fibers Group, Sika AG, has also followed some significant approaches such as launching new subsidiaries in the Asian market, engaging in acquisitions & collaborations, and enhancing production capacity.
Polypropylene, a lightweight thermoplastic polymer, has a considerable number of applications in construction and bundling-like markets, among others. The polymer is particularly exploited to determine precise concrete mix design owing to self-compacting concrete and rigid pavement, among others. The fibers are also used in maintaining secondary reinforcement, which is generated by generally mixing with the concrete products to regulate the shrinkage and avoid cracking in the global construction firm.
The global polypropylene fiber market report exhibits effective market analysis by segmenting it on the basis of the form, process, and end-user. By form, the report categorizes the market into polypropylene staple fiber and continuous fiber. Based on the process, the market is segmented into dry lay, spun bonded, wet lay, spun melt, and other processes. By the end-user, the report segregates the market into pharmaceutical, geotextile, construction, automotive, electronics & electrical, and hygiene products.
The Propylene Fiber Market In The Asia Pacific Region Is Anticipated To Grow Considerably Owing To The Rising Demand For Hygienic Items
Increasing demand for hygiene products in the Asia Pacific region would be a growth enabler in the polypropylene fiber market. In 2018, more than USD 39 billion in revenue was generated through the sale of baby diapers. Asia contributed around 45% of the revenue share generated through baby diapers sale and is anticipated to generate even more revenue in the forthcoming years.
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The market report categorizes the global polypropylene fiber market as follows-
- Polypropylene staple fiber
- Continuous fiber
- Dry lay
- Spun bonded
- Wet lay
- Spun melt
- Other Process
By End User:
- Electrical and electronics
- Hygiene products
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