A comprehensive analysis on the [Polypropylene Yarn market] by Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
|Polypropylene Yarn Market Estimated Size in 2022
|US$ 16.32 Bn
|Polypropylene Yarn Market Projected Size in 2029
|US$ 23.84 Bn
|Polypropylene Yarn Market Historical CAGR (2014-2021)
|Polypropylene Yarn Market Value-Based CAGR (2022-2029)
However, polyester and textile industries in East Asia are under constant pressure due to the coronavirus pandemic. Akin to the SARS outbreak of 2003, demand for polypropylene yarn is likely to drop as industrial operations halt. Governments have restricted transportation amidst the lockdown, leading to logistical issues in the region. Further transmission of the coronavirus would stretch the transport paralysis, leading to a marked production decline of polypropylene yarn. In addition, the export of finished textile products and apparels is expected to drop too.
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“Polypropylene yarn is used in concrete mix designs for rigid pavement and self-compacting concrete. It is also used as a reinforcing agent, which is mixed with concrete to decrease shrinkage and control cracking in the construction industry. These factors are expected to drive the demand for polypropylene yarn from the construction industry and for other refractory applications.”
Key Takeaways from Global Polypropylene Yarn Market Study
- Polypropylene multifilament yarn is likely to be sought-after in the future, owing to its growing application in textile industries.
- In terms of consumption, Europe and the U.S. are the most prominent regions. Countries such as Belgium, the Netherlands, Spain, Germany, France, and Italy are the prime consumers of synthetic yarn (PP yarn), where Belgium and the Netherlands (BENELUX) are prime importers of synthetic yarns (PP yarn).
- Growing apparel industries across the world is expected to increase the demand for polypropylene yarn. Increasing demand for sportswear, blazers, etc., is also surging the demand for fine polypropylene yarn, as it is largely consumed in their production.
- Easy availability of raw wool in countries such as Australia and New Zealand, is driving polypropylene yarn production in this region. These countries produce various types of polypropylene yarn, such as Merion wool, Shetland wool, etc., in high volumes.
- Governments are taking initiatives for promoting the production of polypropylene yarn. For instance, the Indian Government is working to persuade growers to focus on wool production rather than meat production. Production in such countries is further backed by economical labour availability. Hence, a considerable amount of polypropylene yarn is produced in India, and is exported to international markets.
Global players such as SWM, Industrial Ponsa, Thrace group, Bonar Yarns, Lankhorst Yarns, William Barnet & Son, LLC, and Daman Polythread Ltd. have invested strategically in the polypropylene yarn market in the recent past, which suggests that, major manufactures are keeping tabs on the market, as it holds a lot of potential in the coming future. Research & development, coupled with expansion of production capacity and footprint, remains the key strategy of polypropylene yarn manufacturers to enhance productivity and capture new market opportunities.
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East Asia to Offer Lucrative Growth Opportunities
East Asia is anticipated to hold a prominent share in the global polypropylene yarn market, owing to the increasing textile industries in the region. Another key factor driving the growth of the polypropylene yarn market in East Asia is the focus of manufacturers on the customization of products as per specific applications. Polypropylene yarn is also prominently used in the production of apparel such sportswear, thermal wear, and active wear, which is further bolstering its sales in the region.
Polypropylene Yarn Market by Category
By Product Type:
- PP Multifilament
- PP Monofilament
- Industrial Textiles
- Home Textiles
- Sports Accessories and Ancillaries
- Active Wear
- Thermal Underwear
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.