Research and Markets has announced the addition of the "Polypropylene (PP) Nonwoven Fabric Market Analysis By Product (Spunbounded, Staple, Meltblown, Composite), By Application (Hygiene, Industrial, Medical, Geotextiles, Furnishings, Carpet, Agriculture), And Segment Forecasts, 2014 - 2025" report to their offering.
The global Polypropylene (PP) nonwoven fabric market is expected to reach USD 34.98 billion by 2025.
Rapidly increasing disposable income level in countries such as China, India and Brazil has enhanced market penetration for baby diapers, adult incontinence products which have had a mirror impact on PP nonwoven fabric demand in these regions.
These fabrics are now being aggressively adopted for durable applications such as geotextiles, construction, automotive, home furnishing, etc. which has increased their penetration level in such markets. However, volatile raw material supply is expected to be a key challenge for industry participants, in terms of maintaining profitability
Polypropylene being a petrochemical derivative, witnesses significant fluctuation in its price owing to the supply-demand imbalance. Over the last few years, there has been rising concern over the depleting petroleum reserves which have led to a shortage of chemicals, affecting their market price
In terms of production, emerging markets of Latin America, Middle East and Africa hold maximum potential. These regions are expected to cater to the growing demand for PP nonwoven fabrics by 2025.
Some of the major expansions planned in these regions are projected to come from Russia which holds the advantage of having abundant natural resources. However, Asia Pacific is also expected to expand its capacity on account of favorable government policies in India and China to increase the flow of FDI.
Further key findings from the study suggest:
· Spunbonded fabric emerged as the largest as well as fastest growing product segment and is expected to witness a revenue growth at an estimated CAGR of around 9%
· Majority of spunbonded polypropylene nonwoven fabric produced is consumed for hygiene application around the world
· Meltblown PP nonwoven fabrics is anticipated to emerge as the second fastest growing product segment
· Major application of meltblown PP nonwoven fabrics include sanitary applications such as hygiene and incontinence products for babies, adults and feminine hygiene products
· Hygiene application segment observed highest market penetration and accounted for 45.0% of the overall market volume in 2015
· PP nonwoven fabric demand in furnishings applications is expected to grow at fastest estimated CAGR of over 10% during the forecast period
· Asia Pacific is expected to emerge as the fastest growing as well as the largest regional segment owing to increasing healthcare expenditure