Fri, 09 Dec 2022

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).

Attribute

Details

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)

4.1%

Polypropylene Yarn Market Value-Based CAGR (2022-2029)

5.6%

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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

  • 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.

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Scope of the Report

Attribute

Details

Historical Data Available for

2014-2021

Forecast Period

2022-2029

Market Analysis

Units for Volume and US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East and Africa

Key Countries Covered

The U.S., Canada, Mexico, Brazil, Germany, the U.K., France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey, Saudi Arabia, and South Africa

Key Segments Covered

Product Type, Application and Region

Key Companies Profiled

• SWM

• Industrial Ponsa

• Thrace group

• Bonar Yarns

• Lankhorst Yarns

• William Barnet & Son, LLC

• Daman Polythread Ltd

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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.

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

By Product Type:

  • PP Multifilament
  • PP Monofilament

By Application:

  • Industrial Textiles
  • Home Textiles
  • Carpets
  • Sports Accessories and Ancillaries

    • Sportswear
    • Active Wear
    • Thermal Underwear

  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Taxonomy

2.2. Market Definition

3. Key Market Trends

3.1. Key Trends Impacting the Market

4. Key Success Factors

to be continued...!

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The post Overall sales of Polypropylene Yarn Market are anticipated to rise at 5.6% CAGR with valuation of over US$ 23.85 Bn by 2029 - Future Market Insights.inc appeared first on Future Market Insights.

Original Source of the original story >> Overall sales of Polypropylene Yarn Market are anticipated to rise at 5.6% CAGR with valuation of over US$ 23.85 Bn by 2029 - Future Market Insights.inc

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