April 21, 2022
According to the research report titled ‘Polypropylene Fiber Market Size, Share and Industry Analysis Report by Form (Continuous Fiber, Staple Fiber), Application (Concrete, Geotextile, Hygiene Products, Industrial Fabrics, Upholstery Fabrics) and End-user (Construction, Healthcare, Automotive, Filtration, Household), Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027,’ available with MarketStudyReport, global polypropylene fiber market is reckoned to witness robust development during 2021-2027.
Widespread application of polypropylene in construction vertical, extensive usage of hygiene & cleaning products, and expansion of the automotive sector are parameters driving the growth of global polypropylene fiber market.
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For those unaware, polypropylene is a synthetic polymer that is sturdy & tough, resistant to corrosion, and lightweight which increases its usability in the construction sector.
Furthermore, major participants are employing strategic initiatives to enter the untapped markets which are creating lucrative prospects for businesses in this line of work.
However, frequent fluctuations in the prices of raw materials is likely to hinder the progress of market during the forecast period.
In terms of form type, the continuous vertical is expected to expand at 2.9% CAGR, garnering a substantial valuation during the review period.
From an application standpoint, concrete segment held a volume share of 6% in 2020 and is poised to showcase strong growth in the coming years. While the others segment of worldwide polypropylene fiber industry is slated to register an 8.67% growth rate during the analysis period.
As per end-user ambit, the healthcare vertical is estimated to account for 22.89% volume share by the end of study timeframe.
Speaking of the geographical terrain, Latin America industry is poised to grow at 3.1% CAGR, reaching a remarkable valuation by the end of 2027. Meanwhile, Middle East & Africa market is anticipated to attain a volume share of 4.3% during the speculated timeline.
The prominent players in global polypropylene fiber industry include Hubei Botao Synthetic Fiber Co. Ltd., International Fibres Group, American Synthetic Fiber LLC, BASF SE, Forta Corporation, The Euclid Chemicals Company, Zenith Fibers Limited, Lotte Chemical Corporation, LCY Chemical Corp., Sika AG, Beaulieu International Group, ABC Polymer Industries LLC, Tri Ocean Textile Co. Ltd., Belgian Fibers NV, and FiberVisions Corporation among others.