Polyolefin Fiber Market, Business Trends, Global Segments, Business Opportunities, Industry Profit Growth and Forecast to 2025
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 that 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.
Drivers and Restraints Affecting the Market Growth
Increasing
demand for nonwoven fabrics from the 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 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 has 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.
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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.
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 market for polyolefin 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.
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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.
Industry News
Kelheim fiber, a prominent player in the market, has
been granted the certificate of biobased product label for its range of polyolefin
fiber by the U.S. Department of Agriculture for the products under the brand
such as GALAXY, DANUFIL, and VILOFT. These products are sure to reduce the
carbon emission level.
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.
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