Global Polypropylene Fiber Market 2019-2023
About this market
The growing textile industry is one of the key factors expected to propel the market growth during the forecast period. Polypropylene fiber exhibits several features suitable for manufacturing clothing and surgical textile products including face masks, gauzes, and adhesive tapes. Furthermore, many textile companies are setting up manufacturing units in the emerging economies for the production of surgical textile products, in turn, boosting the demand for polypropylene fiber market during the forecast period. Technavio’s analysts have predicted that the polypropylene fiber market will register a CAGR of over 5% by 2023.
Growing textile industry
One of the growth drivers of the global polypropylene fiber market is the growing textile industry. The demand for polypropylene fiber is increasing as it is the primarily used raw material in the textile industry for manufacturing products such as carpets.
Volatile raw material prices
One of the challenges in the growth of the global polypropylene fiber market is the volatile raw material prices. Fluctuations in oil prices adversely affect the cost of propylene, which is produced through steam cracking and catalytic reforming processes.
For the detailed list of factors that will drive and challenge the growth of the polypropylene fiber market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. Many polypropylene-manufacturing companies are focusing on investing in research and development related to the large-scale production of bio-based polypropylene. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Polypropylene Fiber Market 2019-2023
Technavio recognizes the following companies as the key players in the global polypropylene fiber market: ABC Polymer industries LLC, BELGIAN FIBERS SA, LCY GROUP, MAPEI SpA, and Zenith Fibres Ltd.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the emergence of bio-based polypropylene.”
According to the report, one of the major drivers for this market is the growing textile industry.
Further, the report states that one of the major factors hindering the growth of this market is the volatile raw material prices.
ABC Polymer industries LLCBELGIAN FIBERS SALCY GROUPMAPEI SpAZenith Fibres Ltd.
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