February 16, 2022 11:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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DUBAI, United Arab Emirates, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The global Polypropylene Yarn Market size is estimated to be worth around US$ 16.32 Bn in 2022. With rising adoption of polypropylene yarn for various applications, the overall sales are anticipated to rise at 5.6% CAGR, totaling a valuation of over 23.85 Bn by 2029.
The global Polypropylene Yarn Market was valued at nearly US$ 16.32 Bn in 2022, and is projected to exhibit a CAGR of 5.6% over the forecast period.
Polypropylene yarn is witnessing high demand from textile industries, since it is used for the manufacturing of carpets, socks, etc. Polypropylene yarn is lightweight and cost-effective, and also provides high strength to the end product. It has a hygienic structure, which does not cause any allergic reactions; it does not hold moisture and water, and it is dirt- and stain-resistant. Polypropylene yarn also has many color variants and is reusable.
All these factors favour the use of polypropylene yarn in textile industries. Moreover, shifting focus of manufacturers in some developing regions towards the production of relatively cheap textiles in higher volumes is expected to pave the way for robust sales during the forecast period (2019-2029).
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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.
Key Takeaways from Global Polypropylene Yarn Market Study
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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.
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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.
Polypropylene Yarn Market by Category
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