Global market research company MarketsandMarkets has projected that nonwoven fabrics/textiles market will grow from US $ 32.7 billion in 2015 to US $ 47.7 billion by 2020, at an estimated CAGR of 7.86 per cent.
The report titled “Non-woven Fabrics/Textiles Market by Technology (Spunmelt, Wet Laid, Dry Laid, Others), Material (PP, PET, PE, Rayon, Wood Pulp, Others) Function (Disposable, Non-Disposable), End-Use (Hygiene, Wipes, Construction, Upholstery, Filtration) – Forecast to 2020” suggests that growth in nonwovens is due to the increasing technological advancements which have led to numerous product developments. The segments considered for this report are based on Material, Technology, Function, End-use, and Region.
On the basis of Materials, the raw material used in the manufacturing of nonwoven fabrics, Polypropylene (PP), which has applications in manufacturing hygiene products, home furnishings, and automobile market, is set to gain maximum grip during the forecast period. In terms of value and volume, the spunmelt technology accounted for the largest share of the market in 2014, and is further expected to act as catalyst in the coming years too.
In the report, global market, on the basis of key regions, has been divided into North America, Asia-Pacific, Europe, and the Rest of the World (RoW). It has also been observed that emerging economies – India and China, the Asia-Pacific region – held the largest share among all the regions in the recent past.
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The report was made after primary interviews of people such as CEOs, VPs, Directors, and Executives along with secondary research on the market. The company suggested that the nonwoven fabrics industry is dominated by large players such as E.I. du Pont De Nemours and Company (US), Kimberly-Clarke Corporation (US), Avintiv Inc. (US), Ahlstrom Corporation (Finland), and Freudenberg & Co. KG (Germany).
