Market Trends of Polypropylene Fibers Industry
The Textile Industry is expected to Dominate the Market
- PPF applications in the textile industry include fibers, fibrous materials, and other PP-based textile materials, including bed covers, carpets, underlays, rugs, tapes, ropes, clothing (home, sport, children's protective), technical textiles, and environmentally-friendly textiles. The primary classification of PP staple fibers is carpet, woolen, cotton types, and microfibers.
- Polypropylene ropes are used for agriculture and crop packing and can also be used in heavy fruit and vegetable plantations to help the fruit/vegetable hold on to its stem or branch.
- Technical filters are used in various industrial applications, such as wet filtration and pharmaceuticals. These filters provide excellent chemical resistance to paints, coatings, petrochemicals, etc.
- According to National Council of Textile Organization (NCTO) data, US textile and apparel shipments totaled USD 64.8 billion in 2023. Moreover, the US textile industry supplies over 8,000 different textile products to the US military.
- Similarly, according to the Federal Statistical Office (a federal authority of Germany), the revenue of the textile industry reached EUR 12.97 billion (USD 13.96 billion) in 2022 and EUR 12.38 billion (USD 13.30 billion) in 2023.
- Polypropylene fiber is commonly used in carpets due to its durability, stain, moisture resistance, cost-effectiveness, and ability to retain vibrant colors. This makes it a practical choice for various settings, including high-traffic areas.
- According to the Office for National Statistics (United Kingdom), sales from the manufacture of carpets and rugs in the United Kingdom reached GBP 780 million (USD 981.34 million) in 2022.
- Similarly, as per the Brazilian Association of the Textile and Clothing Industry, Brazil's textile and apparel chain exports and imports are valued at USD 1.14 billion and USD 5.9 billion, respectively.
- Thus, based on the aspects above, the textile segment is expected to dominate the market.
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Asia-Pacific to is expected Dominate the Market
- Asia-Pacific dominated the global polypropylene fibers market and will likely witness the highest growth rate during the forecast period. China is a leading producer of polypropylene fibers due to the high number of large-scale manufacturing activities.
- China is the world's largest producer and exporter of textiles and clothing. Due to its enormous production capacity, China needs more textiles and clothing products. According to the State Council Information Office of the People's Republic of China, the total profits of China's major textile enterprises increased by 7.2% annually in 2023. Meanwhile, the country's textile and garments exports hit USD 293.6 billion in 2023.
- However, the increasing labor costs and rising global protectionism weakened its competitiveness. The labor costs in the country increased significantly in recent years and surpassed that of many other countries in Asia.
- Also, polypropylene fiber, known for its non-toxic and hypoallergenic properties, is extensively used in the healthcare industry for applications such as medical clothing, disposable products, wound care, filters for medical devices, and surgical mesh.
- China has the second-largest healthcare industry in the world after the United States, and its healthcare market is more rigorous. By 2030, China will account for 25% of the global healthcare industry's revenue.
- According to the National Bureau of Statistics of China, health expenditures in China were valued at CNY 2,239.3 billion (USD 309.94 billion) in 2023 and have been rapidly growing compared to the previous year's data.
- The healthcare sector in India is mainly driven by increasing health awareness, access to insurance, rising income, and diseases. The medical industry in India is benefiting from the growing population at a rate of 1.6% per year.
- The hospital industry in India, which accounts for 80% of the global healthcare market, is witnessing colossal investor demand from international and domestic investors, reaching USD 132 billion by 2023.
- Polypropylene fiber is widely employed in the construction industry for applications such as reinforcing concrete, enhancing durability, reducing cracking, and resisting chemicals and environmental factors.
- All these factors are expected to boost the polypropylene fibers market in Asia-Pacific during the forecast period.
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