Global nonwovens market eyes $66.8 billion in 2024

October 27th, 2016 / By: / In the Industry

The global consumption of nonwoven fabric spun is estimated to witness a year-over-year growth rate of 8.3 percent, reaching a total market value of $66.8 billion by 2024, according to a market analysis by Persistence Market Research.

The report by the New York City research firm also notes that the polypropylene segment is estimated to account for a maximum revenue share of some 71 percent by the end of 2016 and is expected to maintain its dominance over the forecast period. The Asia Pacific market is estimated to account for 39.6 percent of the market by year’s end, and is projected to be the largest in the global nonwoven fabric market.

Nonwoven fabric materials find major application in consumer products such as
disposable diapers, feminine care products and adult incontinence. The report says an increasing infant and child population in the Asia Pacific region is estimated to drive significant demand for disposable diapers in the near future. Increasing consumption of disposable diapers and feminine care products in emerging countries with low penetration is anticipated to provide impetus for market growth over the forecast period.

Moreover, the analysis says, increasing demand for fuel-efficient and lightweight transportation automobiles is also anticipated to drive market growth in the near future.

The report attributes the high prices of finished products to the high cost of raw materials. Those prices are expected to impede market growth over the forecast period, as are increasingly stringent regulations on the textile industry.