Global Polypropylene Fiber Market 2019-2023| Emergence of Bio-based Polypropylene to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
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.
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Technavio has published a new market research report on the global polypropylene fiber market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of 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 these products require sturdy and strong material for structural integrity, polypropylene fiber is the desired choice for the same. Also, the cost-effective pricing of the fiber makes it the preferred raw material for the manufacturing of the mentioned products. Polypropylene fiber also exhibits properties such as chemical resistance and lightweight. Governments of developing countries such as China, South Africa, and India have been taking initiatives to promote the textile industry. Export of textiles and clothing from various developing countries has also increased in the past few years, thereby increasing the demand for polypropylene fiber.
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 global polypropylene fiber market 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 lifestyle 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. The production of bio-based polypropylene from sugarcane-derived ethanol was a successful development. Other sources of bio-based polypropylene are corn and soybean. Many polypropylene-manufacturing companies are also seen investing in research and development related to the large-scale production of bio-based polypropylene. Thus, such advantages and initiatives are expected to boost the growth of the overall global market.
“Apart from the emergence of bio-based polypropylene, the emergence of polypropylene recycling, and the increasing sustainable and resilient buildings are two other major factors that are expected to boost the growth of the market during the forecast period,” says a senior analyst at Technavio.
Global polypropylene fiber market: Segmentation analysis
This market research report segments the global polypropylene fiber market by end-user (healthcare and hygiene, geotextile, construction, furnishing, and other end-users), and geographical regions (APAC, Europe, North America, MEA, and South America).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America, respectively. During the forecast period, the APAC region is expected to continue dominating as well as register the highest incremental growth due to the growing investments in infrastructures and expansion of airports in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS TEXTILES
SOURCE: Technavio Research
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