Polyolefin Fiber Market Analysis, Global Industry Trends And Forecast-2023

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Polyolefin Fiber Market Analysis, Global Industry Trends And Forecast-2023

Market Synopsis

According to a new report by Market Research Future (MRFR), the global market for polyolefin fiber is anticipated to showcase a staggering CAGR during the assessment period (2016-2023). Polyolefin fibers are synthetic fibers which are extensively used in rugs and carpet manufacturing due to its properties such as inertness, high tensile strength, and abrasion resistance. Polyolefin fibers are classified into polypropylene, and polyethylene. Polyolefin fibers are majorly used in filament yarn, nonwoven fabric, and ropes.

Polyolefins are preferred over non-metallic and metallic substitutes as they are durable, capable of resisting chemical and physical damages, and more importantly, they are light in weight.

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Drivers and Restraints Affecting the Market Growth

Increasing demand for nonwoven fabrics from textile industry by the medical industry due to properties such as resilience, softness, and flame retardant are some of the major reasons galvanizing the polypropylene market growth. With the rising health concern among the consumers, there is an increasing demand for hygienic products. Due to the widening application scope in decoration and the advancement in weaving technology, the usage of polypropylene has increased in tapestries. The demand for synthetic turfs in residential areas, public places, and the sports field have enhanced the market growth. Rise in disposable income and changing fashion trends is further driving the market growth of the apparel industry worldwide. Also, the growing demand for technical textile in agriculture, medical, and automotive is witnessing a significant market growth during the assessment period.

Polyethylene is used in the packaging industry for manufacturing of plastic films, plastic bags, and containers. With the growing demand for packaged food and PET bottles due to eco-friendliness, there has been an increase in the growth of the packaging market worldwide which in turn leads to the growth of polyethylene market.

Labor cost has increased in the China region due to the migration of several people to urban areas may affect the growth of the textile industry over the assessment period, thus leading to the decline in the polypropylene market growth.

Competition Analysis

The prominent players operating the global market for polyolefin fiber are Alpek S.A.B. de C.V (Mexico), ES FiberVisions (Thailand), Dorken GmbH & Co.KG (Germany), Polyglass (U.S.), Welspun India Ltd (India), Bauder Ltd (UK), Anhui Elite Industrial Co. Ltd (China), Beijing Tongyizhong Speciality Fiber Technology & Development Co. Ltd (China), 3M (U.S.), Honeywell International Inc. (U.S.),  Biobent Polymers (U.S.), Durafiber (U.S.), Trevira GmbH (Germany), and others.

Global Polyolefin Market Segmentation

Globally the market for polyolefin has been segmented into end-use, type, and region.

The market has been segmented into polypropylene and polyethylene based on type, among which polypropylene has been preferred for textile application.

The market has been segmented into medical, textile, packaging, automobile, and others based on end-use industry, among which textile holds 35 % of the market share.

Regionally, the market for polyolefin has been segmented into five major regions which comprise Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

Asia Pacific Accounts for the Largest Market Share

Geographically, the Polyolefin Fiber Market has been spanned across Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these five major regions, Asia Pacific has been accounted to hold the largest market share owing to the rapidly growing textile industry in regions like China, Thailand, and India. Owing to the existence of developed infrastructure and cost competitiveness in terms of manufacturing process and raw material, the demand for the product is growing in China region. There has been an increasing sale of online apparel due to access to a huge variety of products along with discounts is stimulating the demand of the product especially among the young population in India. In 2017, the U.S. based FiberVision along with Japan-based JNC Corporation formed a joint venture named ES FiberVision in Thailand. This joint venture company focuses on manufacturing superior quality biocomponent fiber in Thailand.

North America is another flourishing market due to development in the textile industry as a result of steps taken by the government of the U.S. to promote domestic manufacturing. According to the National Council of Textile Organizations, the value for the U.S. textile shipments and apparel touched USD 77.9 billion in 2017 from USD 66.58 billion in 2009.

On the other hand, Europe is witnessing a significant growth rate, owing to the increasing development of technical textiles which is used in medical, automobile, and agrochemical textiles. Polypropylene is largely used in the manufacturing of automobile parts such as trunk liners, insulating fabric, and headliners due to its lightweight property.

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Keywords: polyolefin fiber market

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