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Nonwoven Fabrics Market – Size Analysis And Demand With Forecast Overview To 2023
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Noteworthy players profiled in the nonwoven fabrics market include Asahi Kasei Corporation (Japan), Johns Manville (U.S.), Umazomo Nonwovens (Pty) Ltd. (South Africa), TWE GmbH & Co. KG (Germany), DowDuPont (U.S.), Berry Global Inc. (U.S.), Fitesa (Brazil), Fiberwebindia Ltd. (India), Avgol Ltd. (Israel), Suominen Corporation (U.S.), Toray Industries, Inc. (Japan), KCWW (U.S.), Ahlstrom-Munksjo (Finland), Freudenberg & Co. KG (Germany), and Glatfelter (U.S.).
Nonwoven Fabrics Market Overview
Market Research Future (MRFR) predicts that the Covid-19 Analysis on Nonwoven Fabrics Market is anticipated to touch a size of USD 69,186.9 million by 2023. It previously stood at USD 47,257.2 million in 2018. It can expand at 7.92% CAGR from 2018 to 2023 (forecast period).
Nonwoven Fabrics Market Size To Expand at a Notable CAGR Of 7.92% During 2018 – 2023
The market growth is on an upswing due to massive demand for these fabrics in the healthcare sector. Benefits of nonwovens such as porosity and sterilization capacity are likely to induce high demand from the medical industry. ...
... The manufacture of absorbable implants and rise in surgical procedures are predicted to bolster the nonwoven fabrics market growth.
Eco-friendly fabrics are expected to induce demand in the market. This can be credited to steps taken by various agencies to curb emission levels. In addition, the recyclable nature of these fabrics is predicted to augment market growth. The burgeoning construction and automotive sectors can induce high demand from the nonwoven fabrics market. Construction of commercial and residential spaces in Asia Pacific can facilitate market growth.
The global nonwoven fabrics market is segmented by technology, material, function, and application.
By technology, the dry-laid segment accounted for 53% share in 2017. This segment can exhibit 7.25% CAGR over the forecast period to accrue USD 35,104.4 million by 2023. The spun melt segment, on the other hand, can exhibit 8.72% CAGR during the forecast period due to its application in upholstery, roofing, and personal care. It can accumulate 7,592.9 KT by 2023.
By material, polypropylene accounted for 54% share in 2017 and expects to expand at 8.47% CAGR during the forecast period. The segment can touch a value of USD 38,739.7 million by 2023. But polyethylene terephthalate is projected to grow the fastest owing to durability, functional versatility, and high strength. It can accumulate 2,607.8 KT by 2023.
By function, the durable segment value stood at USD 27,135.7 million in 2017. On the flip side, the disposable segment can grow at a rapid clip thanks to its application in baby wipes, diapers, and surgical products. It can generate close to USD 27,407.2 million by 2023.
By application, hygiene & medical accounted for 34.2% share in 2018, followed by construction (22.4%), upholstery (17.2%), filtration (6.9%), automotive (5.6%), and others (13.8%). The hygiene & medical segment can continue to command demand for nonwoven fabrics owing to awareness of self-grooming. It can touch a size of USD 24,435.9 million by 2023. The construction segment can accumulate USD 15,447.5 million in revenue by 2023.
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Geographically, the nonwoven fabrics market is segmented into Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East & Africa (MEA). APAC accounted for 44% market share in 2017, followed by Europe (23%), and North America (21%).
The APAC region can generate close to USD 32,322.5 million by 2023, at 8.84% CAGR over the forecast period. This can be attributed to its huge consumption in healthcare, construction, and automotive.
On the other hand, Europe is expected to be the second largest region owing to the use of these fabrics in automotive components in Spain, Germany, Italy, and the U.K. The region is set to reach a valuation of USD 14,726.6 million by 2023. The North America region can witness 7.17% CAGR during the assessment period to accrue close to USD 13,838.1 million by 2023. Factors driving market growth include changing lifestyles of consumer and rising rate of adult incontinence among adults.
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