|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The market for polypropylene fibers was valued at 2,988.01 kilo tons in 2021. It is predicted to register a CAGR of over 2.5% during the forecast period (2022-2027).
The supply chain disruptions, the shortage of subcontractors and materials, and the termination of contracts to control expenses, all of which occurred due to the COVID-19 pandemic, impacted the market’s growth on a global level. However, post-pandemic, the market is expected to grow at a steady rate.
- Over the short term, the major factors driving the market are the rising usage of polypropylene fibers in hygiene and health care and the increasing demand for these fibers from the construction industry.
- The future prospects of recycled polypropylene fibers are likely to act as opportunities for market growth.
- Asia-Pacific dominated the global polypropylene fibers market, and it is also likely to witness the highest growth rate during the forecast period.
Scope of the Report
Polypropylene fiber (PPF) is a linear polymer synthetic fiber obtained from propylene polymerization. The polypropylene fibers market is segmented based on type, end-user industry, and geography. By type, the market is segmented into staple and yarn. By end-user industry, the market is segmented into textile, construction, healthcare and hygiene, and other end-user industries. The report also covers the market size and forecasts for the polypropylene fibers market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).
|Healthcare and Hygiene|
|Other End-user Industries|
Key Market Trends
Textile Industry to Dominate the Market
- The applications of PPF in the textile industry include fibers, fibrous materials, and other PP-based textile materials, including bed covers, carpets, underlays, rugs, tapes, ropes, clothing (home, sport, children’s protective), technical textiles, and environmentally-friendly textiles. The basic classification of PP staple fibers is carpet, woolen, cotton types, and microfibers.
- Polypropylene ropes are used for agriculture and crop packing. They can also be used in heavy fruit and vegetable plantations to help the fruit/vegetable hold on to its stem or branch.
- Technical filters are used in various industrial applications, such as wet filtration and pharmaceuticals. These filters provide excellent chemical resistance to paints, coatings, petrochemicals, etc.
- In recent years, China’s apparel market has slowed down and was further hit by the COVID-19 crisis. The apparel industry has undergone a significant transition by shifting toward online platforms. By the end of 2023, approximately 58% of China’s market revenue may be generated through online sales.
- The textile industry in the United States has been globally competitive in the manufacturing of raw materials for textiles, yarns, fabrics, apparel, home furnishings, and other textile-based finished products. According to SelectUSA, a governmental organization, the country’s textile and apparel industry is worth nearly USD 70 billion and is one of the largest sectors of the manufacturing industry.
- Thus, based on the aforementioned aspects, the textile segment is expected to dominate the market.
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Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the global polypropylene fibers market and is likely to witness the highest growth rate during the forecast period. China is a leading producer of polypropylene fibers due to the high number of large-scale manufacturing activities in the country.
- Several Chinese producers have switched to making polypropylene (PP) fibers amid a spike in the global demand for surgical masks and personal protective gears.
- The companies that recently started producing PP fiber in China are Baofeng, Yan’an Yanchang Petroleum, Shijiazhuang Petrochemical, Dalian Petrochemical, Zhejiang Petrochemical, Shaanxi Yanchang ChinaCoal, and Fushun Petrochemical, among others.
- China is the largest producer and exporter of textiles and clothing in the world. Due to its enormous production capacity, China has an oversupply of textiles and clothing products.
- However, the increasing labor costs and rising global protectionism weakened its competitiveness. The labor costs in the country increased significantly in recent years and surpassed that of many other countries in Asia.
- China has the second-largest healthcare industry in the world, after the United States, and its healthcare market has been more rigorous, especially in light of the COVID-19 pandemic in 2020. China is expected to account for 25% of the global healthcare industry's revenue by 2030.
- The hospital industry in India, which accounts for 80% of the global healthcare market, is witnessing huge investor demand from global and domestic investors. The hospital industry is expected to reach a value of USD 132 billion by 2023.
- All these factors are expected to boost the polypropylene fibers market in Asia-Pacific over the forecast period.
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The global polypropylene fibers market is partially fragmented in nature, with the presence of a significant number of players. However, the leading company, Indorama Ventures, occupies a significant market share. Other key players (in no particular order) include Beaulieu Fibers International (BFI), Chemosvit Fibrochem SRO, Radici Partecipazioni SpA, and Mitsubishi Chemical Corporation.
Beaulieu Fibers International (BFI)
Chemosvit Fibrochem SRO
Mitsubishi Chemical Corporation
Radici Partecipazioni SpA
- In September 2021, The Hygiene division of Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced a hike in the rates of all polypropylene, polyester, recycled polyester, polylactic acid (PLA), and bicomponent fibers. The new rates were effective till December 1, 2021, or as contracts allow.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rising Usage in Hygiene and Healthcare
4.1.2 Rising Demand from the Construction Industry
4.2.1 Availability of Cheaper Substitutes
4.2.2 Low Melting Point Hinders Usage in Some Applications
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Raw Material Analysis
5. MARKET SEGMENTATION
5.2 End-user Industry
5.2.3 Healthcare and Hygiene
5.2.4 Other End-user Industries
18.104.22.168 South Korea
22.214.171.124 ASEAN Countries
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ABC Polymer Industries LLC
6.4.2 Beaulieu Fibres International (BFI)
6.4.3 Belgian Fibers
6.4.4 Chemosvit Fibrochem SRO
6.4.5 China National Petroleum Corporation
6.4.7 Fiberpartner Aps
6.4.8 Freudenberg Group
6.4.9 Indorama Ventures
6.4.10 International Fibres Group
6.4.11 Radici Partecipazioni SpA
6.4.12 Sika AG
6.4.13 Mitsubishi Chemical Corporation
6.4.14 Huimin Taili Chemical Fiber Products Co. Ltd
6.4.15 Tri Ocean Textile Co. Ltd
6.4.16 W. Barnet GmbH & Co. KG
6.4.17 Zenith Fibres Ltd
6.4.18 Kolon Fiber Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Future Applications For Recycled Polypropylene Fibers
Frequently Asked Questions
What is the study period of this market?
The Polypropylene Fibers Market market is studied from 2017 - 2027.
What is the growth rate of Polypropylene Fibers Market?
The Polypropylene Fibers Market is growing at a CAGR of >2.5% over the next 5 years.
Which region has highest growth rate in Polypropylene Fibers Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Polypropylene Fibers Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Polypropylene Fibers Market?
Beaulieu Fibers International (BFI), Chemosvit Fibrochem SRO, Indorama Ventures, Mitsubishi Chemical Corporation, Radici Partecipazioni SpA are the major companies operating in Polypropylene Fibers Market.